CHICAGO, Aug 28(Reuters) – Several years of profitable crops
have left U.S. farmers with enough cash that they can delay
additional sales of corn and soybeans, which could be bad news
for food companies, livestock feeders, and exporters hoping for
an abundance of low-price grain after this year’s harvest.
While the U.S. Agriculture Department has forecast huge corn
and soybean crops this autumn, these rich farmers have enough
on-farm grain storage to hold onto much of their bounty until
prices move higher.
DEVILS LAKE, North Dakota, July 24 (Reuters) – Spring wheat
yields across northern North Dakota were projected lower than a
year ago but were still trending above average despite severe
planting delays, scouts on an annual crop tour of the top U.S.
spring wheat state said on Wednesday.
The crop was less mature than usual due to the delays and
will need good weather in the next few weeks to reach its full
MAX, North Dakota, July 24 (Reuters) – Spring wheat yield
prospects in northwestern North Dakota are lower than they were
a year ago but still better than average, scouts on an annual
crop tour of the top U.S. spring wheat state said on Wednesday.
Much of the crop in the area was seeded later than usual,
and because of its delayed development, the crop will need good
weather in the next few weeks to reach its full potential.
BISMARCK, North Dakota, July 23 (Reuters) – Spring wheat
yields in southern North Dakota are expected to be larger than
average and higher than last year, as dry and hot conditions in
July helped the crop develop after rain delayed planting
throughout much of May, scouts on annual tour said on Tuesday.
Hard red spring wheat yields were projected at 43.3 bushels
per acre, based on a survey of 195 fields across southern
portions of North Dakota, as well as some fields in South
Dakota, on a tour organized by the Wheat Quality Council.
WISHEK, North Dakota, July 23 (Reuters) – Yield prospects
for the spring wheat crop in southern North Dakota were
averaging about 5 bushels per acre better than a year ago but
variability was high between fields, scouts on an annual tour
said on Tuesday.
Scouts predicted an average yield of 46.7 bushels per acre,
based on surveys of four fields in Ransom and LaMoure counties.
A year ago, scouts along the same route pegged average yields at
41.6 bushels per acre. The tour’s five-year average for the area
is 42.6 bushels per acre.
CHICAGO (Reuters) – U.S. soybean plantings are set to rise above expectations following lengthy planting delays across the Midwest that have forced farmers to adopt new acreage plans.
The changes will be costly, as soybeans typically provide lower returns than corn that is seeded in a timely manner. The lengthy delays have pushed farmers right up to key insurance deadlines that hit on Friday, forcing them to make a decision about what to do with acreage they hoped would have been seeded weeks ago.
SHERIDAN, Illinois (Reuters) – With the U.S. spring planting season off to a historically slow start, an increasing number of farmers are counting on powerful tools to catch up: Monster machines that sow 36 rows of corn at once and feature high-tech innovations like computer-guided directional equipment.
The technological wizardry from companies like Deere & Co and AGCO Corp is pitted in a frantic race against time, with farmers scrambling to get seeds in the ground because a slow start depresses yields and reduces the size of their harvest. Delayed planting in turn can raise prices for food processors, livestock feeders, and ethanol producers, leading to eventual increases in food and fuel costs nationwide.
CHICAGO, April 29 (Reuters) – Rain around the U.S. Midwest
kept farmers out of fields last week matching the slowest corn
planting pace ever, government data released on Monday showed.
The weather also took a toll on the developing winter wheat
crop, which deteriorated to its worst condition for this time of
year in 17 years.
CHICAGO, April 29 (Reuters) – Traders at the Chicago Board
of Trade have been reluctant to adopt the exchange’s new
starting time, reducing the depth of the market early in the
session and roiling plans to boost liquidity as the opening
burst has been split in two.
The exchange’s modified trading schedule, launched three
weeks ago, is failing to attract big volumes at the open as some
traders prefer to wait until the traditional starting time,
which is an hour after the opening bell, before booking new
CHICAGO, April 17 (Reuters) – The trustee in charge of
returning funds to customers of scandal-ridden Peregrine
Financial Group will receive an initial payment of $1.23 million
for his role in unwinding the failed brokerage, a U.S.
Bankruptcy Court judge ruled Wednesday.
U.S. bankruptcy code allows for the court-appointed trustee,
Chicago lawyer Ira Bodenstein, to receive a commission of up to
3 percent of the $123.3 million that has been returned to former
brokerage customers. The returned monies represents less than
one-third of the funds customers had deposited with the futures
broker when the firm collapsed and the accounts were frozen last