Karl's Feed
Sep 27, 2014

Chicago-area air traffic center fire grounds 1,750 flights

CHICAGO, Sept 26 (Reuters) – A fire apparently set by an
employee at a Chicago-area air traffic control center led to the
cancellation of more than 1,700 flights at the city’s two major
airports, snarling air traffic across the United States,
officials said.

Flights resumed at O’Hare International Airport, one of the
world’s busiest, after a delay of about four hours, but there
were bottlenecks across the entire air system that carriers
expect to last through the weekend.

Sep 26, 2014

Air traffic center fire grounds flights in Chicago, snarls traffic

CHICAGO (Reuters) – An intentionally set fire at a Chicago-area air traffic control center led to the cancellation of more than 1,000 flights at the city’s two major airports, snarling air traffic across the nation.

The blaze at the facility in Aurora, outside of Chicago, apparently was set by a man who suffered self-inflicted wounds, Aurora police said. There were no indications that it was an act of terrorism and the blaze was extinguished, it said.

Sep 25, 2014

US river freight system near breaking point as huge harvest looms

CHICAGO, Sept 25 (Reuters) – With a record U.S. harvest just
coming in, the river transportation system that is at the heart
of the nation’s farm economy is overstrained by rising demand
for shipping capacity, a low barge inventory, and a dilapidated
lock system.

The pressure is building on an inland waterways network that
is just one flood, drought or mechanical breakdown from calamity
after decades of neglect, industry sources say.

Sep 25, 2014

Wheat sinks on higher dollar; harvest hits corn and soy

CHICAGO, Sept 25 (Reuters) – U.S. wheat futures plunged more
than 2 percent on Thursday to a four-year low on fears that a
rising dollar could hamper global demand for U.S. exports as
global supplies rise to a record high.

Corn and soybeans dropped about 1 percent on spillover
pressure from sinking wheat and on rising supplies from the
rapidly advancing harvest of record-large crops.

Sep 24, 2014

Corn, soybeans and wheat bounce from four-year lows

CHICAGO, Sept 24 (Reuters) – U.S. wheat futures jumped more
than 1 percent on Wednesday as a recent plunge to four-year lows
encouraged investors to cover short positions as the lower
prices sparked improved export demand.

Corn and soybean futures also ticked higher in a
short-covering bounce from four-year lows, though good weather
speeding the harvest of expected record crops in the U.S.
Midwest anchored prices.

Sep 23, 2014

Corn, soybeans sink to four-year lows as harvest advances

CHICAGO, Sept 23 (Reuters) – U.S. corn and soybean futures
fell to four-year lows on Tuesday as mild and mostly dry weather
across the U.S. Midwest is expected to boost the harvest of
record crops.

Wheat fell in tandem with retreating corn and soy, anchored
by plentiful global supplies and strong competition for export

Sep 12, 2014

Cargill sues Syngenta over sale of GMO corn banned by China

CHICAGO, Sept 12 (Reuters) – Cargill Inc, the top
U.S. grain exporter, sued a unit of Syngenta AG in a
Louisiana state court on Friday for damages stemming from
China’s rejection of genetically modified U.S. corn, which
Cargill said cost the company more than $90 million.

Minnesota-based Cargill accuses Syngenta of exposing the
grain trader to losses by selling the seeds to American farmers
before the Swiss company had secured import approval from China,
a major buyer.

Sep 10, 2014

Wal-Mart joins U.S. crop-tour fever seeking food chain edge

CHICAGO (Reuters) – Retail giant Wal-Mart (WMT.N: Quote, Profile, Research, Stock Buzz) joined a group of volunteers counting corn ears and soybean pods in fields in the United States recently in a clear sign traditional crop tours are expanding their appeal from farmers and traders to all those with a stake in the U.S. food chain.

These annual trips to gather detailed on-the-ground information on crops in the world’s biggest grains producer have long been seen as a way to glean market-moving details not found in commodity analyst notes or government reports.

Aug 7, 2014

Cargill revamps energy-trading focus after two painful quarters

CHICAGO (Reuters) – Global commodity merchant Cargill Inc is revamping its energy trading unit after two weak quarters in a row and refocusing on U.S. oil markets for a “fresh start” in fiscal 2015, a top executive said on Thursday.

Cargill was caught wrong-footed on energy positions during an exceptionally cold North American winter that triggered record volatility in energy prices. A large third-quarter loss was followed by damage control in the fourth quarter ended May 31. Energy trading was a factor behind a 12 percent decline in net earnings for the fiscal 2014 fourth quarter.

Aug 7, 2014

Cargill fourth-quarter profit falls on exchange rate loss; revenue up

By Karl Plume

(Reuters) – Cargill Inc [CARG.UL], a top global commodities trader, said on Thursday its quarterly earnings fell as drought limited farm services opportunities in the United States and due to a loss stemming from the drop in the value of Venezuela’s currency.

Minneapolis-based Cargill was also stung by elevated rail shipping costs and railcar shortages in the northern U.S. Plains states, which have similarly impacted rival agribusinesses Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz) and Bunge Ltd (BG.N: Quote, Profile, Research, Stock Buzz).