CHICAGO, Feb 6 (Reuters) – Chinese importers canceled
purchases of four cargoes of U.S. corn this week, after one
cargo was diverted to Vietnam last week, U.S. government data
showed on Thursday, as a dispute over an unapproved genetically
modified strain remained unresolved.
The U.S. Department of Agriculture confirmed, via its daily
reporting system, the cancellation of 220,000 tonnes of corn by
China for shipment in the current marketing year.
CHICAGO, Feb 5 (Reuters) – A winter storm that brought heavy
snow and ice to much of the U.S. Midwest farm belt on Wednesday
slowed grain and livestock shipments to a near standstill,
reduced pork production and halted wheat milling at the
country’s second-largest flour mill.
“The path of the greatest snow occurred from the central
Plains, Kansas and Oklahoma, east and northeast into Ohio and
parts of Michigan,” said Drew Lerner, meteorologist with World
Weather Inc. “That’s prime crop country.”
Feb 4 (Reuters) – U.S. agribusiness giant Archer Daniels
Midland Co said Tuesday it remained committed to
expanding its global reach to satisfy Asia’s fast-growing demand
for food, despite a failed bid to acquire Australian grain
handler GrainCorp Ltd.
Charges relating to the GrainCorp deal contributed to a
27-percent drop in ADM’s fourth-quarter profit, overshadowing
strength in its corn processing and oilseeds businesses as lower
crop prices boosted margins.
By Karl Plume
(Reuters) – U.S. agricultural processor Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz) reported a 27-percent drop in quarterly earnings on Tuesday as charges related to its failed acquisition of GrainCorp overshadowed strength in its corn processing and oilseeds businesses.
The Decatur, Illinois-based company had pursued grain handler GrainCorp for 13 months before Australia’s government blocked the deal in November, striking a blow to ADM’s plan to expand to meet fast-growing demand in Asia and the Middle East.
CHICAGO, Jan 24 (Reuters) – U.S. wheat futures slid nearly 1
percent on Friday in a profit-taking setback following the
steepest rally in three months the previous session on worries
that a cold snap in the Midwest and Plains could damage the
dormant winter crop.
Soybeans rebounded from early session losses as strong U.S.
export sales offset pressure from favorable crop weather in
major exporter Argentina and rising crop forecasts for Brazil,
the world’s top soy supplier. Talk of fresh Chinese demand for
near-term U.S. supplies propelled prices to session highs late.
CHICAGO, Jan 23 (Reuters) – Bitterly cold weather slowed
grain and livestock shipments around the central United States
on Thursday and threatened to damage the dormant winter wheat
crop, sending futures prices higher, industry sources and
Temperatures plunged to the single-digits to below zero
Fahrenheit across the northern Midwest and Plains, and even
colder conditions were expected early next week, forecasters
CHICAGO, Jan 22 (Reuters) – U.S. soybeans shrugged off early
short-covering support on Wednesday and fell for a second
straight session as improving crop weather in Argentina and
near-ideal conditions in Brazil boosted prospects for a
Technical selling and spread trading further pressured
prices as investors unwound short corn and long soybean
positions, dragging the spot soy contract to the lowest in two
CHICAGO, Jan 21 (Reuters) – U.S. soybean futures slumped
nearly 3 percent on Tuesday in the steepest slide since
mid-November as forecasts for rain in Argentina eased concerns
about hot, dry weather cutting soy crop yields from the major
Wheat hovered near a recent 3-1/2 year low, anchored by
ample global supplies and stiff competition for U.S. grain on
the world market. Corn traded on both sides of Friday’s closing
price, guided largely by spread trading, and closed slightly
SAN ANTONIO, Texas, Jan 13 (Reuters) – Beijing’s renewal of
expired import certificates of several biotech corn strains last
week is an encouraging sign that the United States and China
will soon resolve the import dispute over an unapproved corn
variety that has caused the rejection of several U.S. corn
shipments, U.S. Agriculture Secretary Tom Vilsack said on
“These were renewals, so it’s not new, but it’s comforting
to the companies who had been waiting for quite some time for
this,” Vilsack told reporters at the annual American Farm
Bureau Federation convention here.
CHICAGO, Jan 8 (Reuters) – Cash premiums for spot shipments
of corn and soybeans to processors around the U.S. Midwest rose
to four-month peaks on Wednesday as buyers scrambled for
supplies after stormy and frigid winter weather slowed
Basis bids for barge loads of soybeans delivered to export
elevators at the Gulf Coast also hit the highest levels since
September as ice clogged rivers in the central Midwest while
export demand for the oilseed remained strong.