CHICAGO, Dec 9 (Reuters) – Bumper corn and soybean harvests
in the U.S. Midwest are stretching the system for moving crops
from fields to markets beyond its limits this year, driving up
export costs and crimping profits for farmers and grain dealers.
After years of drought, the bountiful harvests may have come
as a relief to America’s heartland if it were not for the severe
transportation bottlenecks that have developed.
CHICAGO, Dec 3 (Reuters) – Nearly 2 million tonnes of U.S.
corn heading to China face stringent testing for an unapproved
genetically modified (GMO) variety after several cargoes were
denied entry by state quarantine authorities, taking exporters
and grain traders by surprise.
Since mid-November, China, the third biggest customer of
U.S. corn, has turned away several cargoes and containers of
corn that tested positive for Syngenta AG’s Agrisure
Viptera as it has not been approved for import by China.
Nov 26 (Reuters) – The Mississippi River remained closed to
navigation along an eight-mile stretch near Le Claire, Iowa, on
Tuesday after a boat containing up to 100,000 gallons of diesel
fuel and lube oil struck a submerged object and sank late on
Monday, the U.S. Coast Guard said.
One northbound towboat with no barges and two southbound tow
boats pushing a total of 25 barges were waiting at midmorning on
Thursday to pass through the closed section from river mile
marker 493 to 501, about 15 miles upriver from Davenport.
CHICAGO, Nov 20 (Reuters) – U.S. corn and soybean futures
drifted lower on Wednesday amid light profit-taking and
technical selling, weighed down by ample supplies from a massive
The announcement of a large soft red winter wheat sale to
Egypt briefly lifted wheat futures, but prices later retreated
on a lack of follow-though buying.
BEIJING/CHICAGO, Nov 19 (Reuters) – China, one of the
world’s largest corn importers, has rejected a cargo of the
grain from the United States as it contained a genetically
modified variety that has not been approved by Beijing, traders
The discovery of Syngenta AG’s Agrisure Viptera
corn in the shipment dragged on global prices and unnerved some
Chinese buyers as it raised the spectre of other rejections.
Nov 18 (Reuters) – China rejected a cargo of U.S. corn
because it contained a genetically modified variety that is not
approved for import, a trade source said on Monday.
The shipment contained Syngenta AG’s Agrisure
Viptera corn, also known as MIR 162, the source said.
CHICAGO (Reuters) – Harvesting the largest U.S. corn crop on record and transporting it on railroads and rivers to markets here and abroad is driving up costs for rail cars, barges and trucks in the world’s top crop producer and exporter.
After three years of crop shortfalls that left grain supply pipelines all but empty by late summer, the U.S. grain handling system is now tasked with quickly absorbing a huge corn crop – projected at a record 13.8 billion bushels, around half of which is already harvested.
CHICAGO, Oct 4 (Reuters) – Commodities markets were mixed on
Friday as copper rose 1 percent in a technical bounce and gold
slipped on a firmer U.S. dollar, despite concerns that deeply
divided lawmakers in Washington were far from reaching a budget
Oil prices edged higher as Tropical Storm Karen shuttered
half of offshore production in the Gulf of Mexico, but the U.S.
political stalemate stoked worries about demand in the world’s
largest oil consumer and trimmed gains.
Oct 1 (Reuters) – For much of the past six years, the global
grain markets have lurched from one crop crisis to the next,
keeping inventories low and food prices high.
Now, as harvest machines across the U.S. Midwest prepare to
reap the nation’s biggest corn crop in history, a sea change
seems imminent, one that could transform the market. No longer
will a constant a fear of scarcity drive prices. Instead,
traders will be battling for market share instead of scrambling
CHICAGO (Reuters) – The U.S. Commodity Futures Trading Commission fined futures brokerage ADM Investor Services Inc $425,000 for commingling customer funds with funds from its non-customer accounts, the top U.S. derivatives regulator said Monday in a release.
As a futures commission merchant, ADM Investor Services, which is a fully owned subsidiary of U.S. agribusiness giant Archer Daniels Midland, is required to keep customer funds segregated from other accounts per Section 4d(a)(2) of the Commodity Exchange Act.