Michael's Feed
Aug 5, 2013

Lollapalooza’s broad appeal leads to biggest audience yet

CHICAGO, Aug 4 (Reuters) – Lollapalooza, the three-day music
festival in Chicago’s historic Grant Park, was bigger than ever
this year with a lineup that honored its alternative rock roots
and broadened its appeal to fans of folk, dance, rap and even
country music.

A record 300,000 people took in nearly 150 bands playing on
eight stages set up across the mile-long park lawn just across
the street from the shores of Lake Michigan.

Aug 2, 2013

Green Plains to temporarily shut down nine ethanol plants -CEO

Aug 2 (Reuters) – Corn-based ethanol maker Green Plains
Renewable Energy will temporarily shut down nine of its
10 ethanol plants for maintenance during the next two months as
corn supplies tighten ahead of the U.S. harvest, Chief Executive
Officer Todd Becker said in an interview on Friday.

The downtime is expected to reduce ethanol output by 10
percent to 20 percent for the ethanol maker from late August
through the end of September. The company is based in Omaha,

Jul 31, 2013

U.S. corn, soy cash bids recovering as farmer sales slow

CHICAGO, July 31 (Reuters) – Cash bids for corn and soybeans
were recovering across the U.S. Midwest on Wednesday after a
historic collapse last week as grain buyers sought to spur sales
from razor-thin farmer holdings, grain buyers and analysts said.

Farmer sales of each crop slowed to a halt in the wake of
last week’s plunge in cash premiums and Chicago Board of Trade
futures to multi-month lows. The declines shaved more than $1
off the price of a bushel of corn and $2 off a bushel of

Jul 26, 2013

Rains preceded record drop in U.S. corn, soy cash prices

CHICAGO, July 26 (Reuters) – Widespread rains last weekend
in the U.S. Corn Belt sparked a record drop in cash corn and
soybean prices – a wave of declines that triggered a steep fall
in futures at the Chicago Board of Trade this week, grains
traders and analysts said.

Cash premiums for corn and soybeans that slowly rose to the
highest levels ever in the wake of last summer’s drought fell 20
percent this week, with farmers selling old-crop supplies as
damp and cool weather benefited the developing new crop.

Jul 26, 2013

US cash corn bids tumble from lofty levels after soy drops

CHICAGO, July 25 (Reuters) – U.S. cash corn bids fell hard
from record-high levels on Thursday as a big drop in Chicago
futures markets encouraged farmers to sell what remained of last
year’s harvest, analysts and grain merchants said.

However, strong demand by ethanol plants should prevent cash
bids from falling much more, they said.

Jul 25, 2013

Sizzling U.S. cash corn market teeters on edge as soy plunges

CHICAGO, July 25 (Reuters) – Record-high cash bids for corn
in the United States were starting to show signs of cracking on
Thursday, but strong demand from ethanol plants was likely to
prevent a wave of declines that were seen this week in the
soybean market, analysts and grain merchants said.

Good profit margins for makers of the grain-based fuel
additive allowed ethanol plants to bid as much as $2 per bushel
above Chicago Board of Trade corn futures, or $7 a bushel,
and still make money, analysts said. Grain buyers have ratcheted
up so-called basis bids to lofty levels this summer as supplies
dwindled to a 16-year low after last year’s drought.

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.