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.
Sept 30 (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 be battling for market share instead of scrambling for
DAVENPORT, Iowa, Sept 16 (Reuters) – Chinese companies
signed agreements with U.S. agricultural exporters on Monday to
buy 4.83 million tonnes of U.S. soybeans valued at about $2.8
At a ceremony hosted by the U.S. Soybean Export Council,
officials from Chinese companies including COFCO, Sinograin, and
Chinatex signed 13 separate agreements with representatives from
Archer Daniels Midland, Bunge, Columbia Grain and
(Reuters) – A blinding flash of orange light jarred Weyauwega residents awake before dawn on March 4, 1996. An 81-car freight train had been barreling toward the farm town in central Wisconsin when it jumped a broken rail. The train’s propane and petroleum cargo had caught fire and exploded.
Gerald Poltrock II, a rookie local police officer, thought it was a prank when the dispatcher called to say the city “blew up.”
July 21 (Reuters) – A blinding flash of orange light jarred
Weyauwega residents awake before dawn on March 4, 1996. An
81-car freight train had been barreling toward the farm town in
central Wisconsin when it jumped a broken rail. The train’s
propane and petroleum cargo had caught fire and exploded.
Gerald Poltrock II, a rookie local police officer, thought
it was a prank when the dispatcher called to say the city “blew
June 25 (Reuters) – Rising water on the Mississippi River
will force the U.S. Army Corps of Engineers to close numerous
locks on the major shipping waterway for the second time this
month, from central Iowa to central Missouri.
The river is already above flood stage at numerous locations
following recent heavy rains and more precipitation is in the
forecast for the region.
CHICAGO (Reuters) – Patrick Kane is among the smallest players on the ice but the speedy forward continues to rise to the occasion at the game’s biggest moments.
Just under six feet tall (1.83m), the 24-year-old Blackhawks playmaker has a knack for important goals and on Saturday scored twice in Chicago’s 3-1 win over the Boston Bruins in Game Five of the Stanley Cup Finals.
WASHINGTON/CINCINNATI (Reuters) – A current and a former top tax official have been physically threatened in recent weeks as the scandal over Internal Revenue Service targeting of Tea Party and other conservative groups has gathered steam, people familiar with their situation say.
Ousted IRS acting commissioner, Steven Miller, has received such threats, according to a source familiar with his situation. The source declined to elaborate on the nature or the source of the threats.
June 10 (Reuters) – U.S. Agriculture Department officials in
Cairo stepped in to resolve a major contract dispute between
U.S.-based grain exporter CHS Inc and the General Administration
for Supply Commodities (GASC), Egypt’s government wheat buyer,
according to a USDA attache report.
The dispute arose after a 60,000-tonne cargo of Canadian
soft red winter wheat sold by CHS was rejected by Egyptian
quarantine authorities in April for containing a
higher-than-allowed amount of ambrosia seeds.
By Karl Plume
(Reuters) – Barge traffic on a flooded stretch of the Mississippi River remained at a standstill on Tuesday, but relatively few vessels stood waiting at the channel’s system of locks as shippers had received ample warning of the rising water.
The Port of St. Louis and eight locks on the major shipping artery from northern Iowa to St. Louis have been closed by the U.S. Coast Guard and Army Corps of Engineers following record rains around the U.S. Midwest.