Michael's Feed
Jul 9, 2013

US grain buyers face record premiums, final sting from 2012 drought

CHICAGO, July 9 (Reuters) – Last year’s U.S. drought, the
worst since the Dust Bowl, is delivering its final sting to
major grains buyers like Archer Daniels Midland, Bunge
Ltd and Cargill Inc, who are paying record-high
premiums for dwindling supplies of last year’s crops.

Premiums at the moment are as high as $1.75 a bushel above
benchmark futures prices on the Chicago Board of Trade, which
have been depressed by signs of a record harvest this coming
autumn. The most active agriculture contract, December corn
, hit a two-year low last week near $4.90 a bushel.

Jun 13, 2013

Shaw’s late strike seals opening win for Chicago

CHICAGO (Reuters) – Andrew Shaw’s goal in triple overtime sealed a marathon 4-3 victory for the Chicago Blackhawks over the Boston Bruins as the Stanley Cup Finals opened with a Game One thriller on Wednesday.

The game was the first between the two Original Six franchises in a Stanley Cup Final and the teams dished up more than four hours of high drama before Shaw scored on a double-deflection off Michal Rozsival’s blast from the blueline.

Jun 13, 2013

Clock ticking on Olympics, says NHL commissioner

CHICAGO, June 12 (Reuters) – Time is running out to complete a deal that would see the National Hockey League free players for the Sochi Olympics, commissioner Gary Bettman said on Wednesday.

Speaking before the opening game of the Stanley Cup finals in what has become his annual state of the league address, Bettman fielded a wide-range of questions but the most-far reaching centered on the league’s Olympic future.

Jun 6, 2013

Mississippi River reopens for barges as flood waters recede

By Michael Hirtzer

(Reuters) – The Mississippi River was reopened on Thursday along a five-mile stretch near St. Louis as waters receded after one of the worst floods on record halted barge traffic for four days on the main route to global markets on the U.S. Gulf Coast.

The U.S. Coast Guard allowed southbound river traffic to resume along a five-mile stretch of the Mississippi that had been closed since Monday, said Colin Fogarty, a public affairs officer at the agency.

May 24, 2013

US lumber futures fall most in 18 months as exports plunge

CHICAGO, May 24 (Reuters) – U.S. lumber futures fell nearly
2 percent on Friday, capping their deepest streak of losses in
1-1/2 years as a resurgence in the domestic housing market was
overshadowed by plunging wood exports from the U.S. West Coast,
experts said.

Benchmark prices for the building material dipped
below the threshold of $300 per thousand board feet for the
first time since October at the Chicago Mercantile Exchange and
have declined more than 25 percent since notching an eight-year
high of $400.80 per tbf in February.

May 14, 2013

Slowest plantings ever should trim U.S. corn yields -agronomists

CHICAGO, May 14 (Reuters) – U.S. corn yields are unlikely to
reach their full potential this year as the slowest planting
pace on record shortens the growing season, increasing risks
that plants will pollinate under peak summer heat, agronomists
said on Tuesday.

“We have taken some off of our yield potential,” said
Emerson Nafziger, extension agronomist at the University of
Illinois. “Our preference is to have it in the ground by May 1.”

Apr 26, 2013

U.S. cash soy markets sizzle on long tail to export season

CHICAGO, April 26 (Reuters) – U.S. soybean crushers are
running at reduced capacities and bidding record premiums for
beans from tight-fisted farmers as demand for protein-rich
animal feed has shown few signs of slowing down amid port
congestion during bumper harvests in South America, processors
and traders said on Friday.

Big processors such as Archer Daniels Midland Co,
Bunge Ltd and Cargill Inc that crush soybeans
and then sell meal and oil have struggled to buy beans from
farmers who refuse to sell any leftovers from last year as a
price hedge against the possible return to drought conditions.

Apr 18, 2013

USDA decision on weekly DDGs export data could come within months

April 18 (Reuters) – The U.S. Agriculture Department’s
comment period ends on Thursday on whether to release weekly
export data for dried distillers’ grains, a “co-product” of
ethanol production that has become increasingly popular as
animal feed.

The government currently releases monthly export data for
so-called DDGs and the decision on weekly numbers could come
within months, said USDA spokeswoman Sally Klusaritz.

Mar 20, 2013

Cold start to spring slows demand for high-quality U.S. beef

CHICAGO, March 20 (Reuters) – Persistently cold weather and
snowfall on the first day of spring have crimped demand for
high-quality cuts of beef in the United States at a time of year
that typically sees increased purchases for so-called grilling
season, analysts and traders said on Wednesday.

In a rare move, wholesale prices for choice-grade beef
dipped below those of leaner but lesser-quality select cuts,
according to the U.S. Agriculture Department.

Mar 6, 2013

US ethanol giant POET makes rare bid for wheat in Indiana

March 6 (Reuters) – Leading U.S. ethanol maker POET
Biorefining, in a rare move, is bidding for soft red winter
wheat (SRW) at an Indiana facility as supplies of corn, the main
feedstock in ethanol production, shrink to the smallest in 17
years.

Privately held POET, the country’s No. 2 ethanol maker
behind Archer Daniels Midland Co, was bidding to buy SRW
wheat, a variety grown primarily in the eastern U.S. Midwest and
typically used to make crackers and biscuits.