CHICAGO (Reuters) – Lollapalooza, the giant rock festival celebrating its 20th anniversary with three days of music starting on Friday in Chicago, is set to expand to its second South American event next year in Sao Paulo.
“If we can rub elbows with the Brazilians, who knows what Lollapalooza will be like. They have a long, storied history of partying,” said Perry Farrell, who founded the festival in 1991 as a farewell tour for his band, Jane’s Addiction.
CHICAGO (Reuters) – Drought worsened in the Midwest during the last week as record-high temperatures stressed the developing corn and soybean crops, while cotton and pastures eroded amid a historic drought in the southern Plains.
Nearly 38 percent of the Midwest was “abnormally dry” as of August 2, the climatologists said in a weekly report, the most since December 2008.
CHICAGO, July 13 (Reuters) – U.S. ethanol production fell
3.5 percent while stocks climbed in the latest reporting week,
despite profitable margins at many biofuel refineries.
Ethanol output totaled 872,000 barrels per day (bpd) for
the week ended July 8, down 32,000 bpd from the previous week
but 6 percent higher than the same week a year ago, according
to the Energy Information Administration’s weekly petroleum
report released on Wednesday.
CHICAGO, June 6 (Reuters) – Warm and dry conditions
provided a window for farmers in the eastern U.S. Corn Belt to
catch up on corn plantings last week but seedings remained
behind schedule, especially in Ohio where only about half of
the crop was in the ground.
The U.S. Agriculture Department late on Monday put corn
plantings at 94 percent complete, below the five-year average
pace of 98 percent, leaving about 5.5 million acres (2.2
million hectares) of the projected 92.2 million yet to be
CHICAGO, April 14 (Reuters) – Farm equipment maker Agco
Corp (AGCO.N: Quote, Profile, Research, Stock Buzz) may top its own first-quarter earnings outlook
when it reports the results later this month, the company’s
chief executive said on Thursday.
“I think everything is pretty much in line,” Agco Chief
Executive Martin Richenhagen told reporters in Chicago.
CHICAGO (Reuters) – An extended NFL lockout would be devastating to the chicken wing industry, which has already seen prices drop precipitously this year, the chief executive of Sanderson Farms Inc (SAFM.O: Quote, Profile, Research, Stock Buzz) said.
“It would kill wings, it would be terrible on wings,” Joe Sanderson said at the Reuters Global Food and Agriculture Summit on Monday.
CHICAGO (Reuters) – With more Americans tightening their belts, demand for cheaper cuts of U.S. beef has actually pushed the price of select-grade beef higher than the generally more expensive choice cuts.
For the first time in nearly two years, select-grade beef prices are above those for better-quality choice grade, according to U.S. government data.
CHICAGO (Reuters) – Grain companies will have to pay up to get deep-pocketed U.S. farmers to part with soybeans, as about half of the crop remains unsold at a time when soymeal demand rises seasonally and the export program could be extended by planting delays in Brazil.
Soybean basis bids — the amount above or below Chicago Board of Trade benchmark futures prices that grain merchants pay to farmers — are poised to climb at least until year end after hitting a low for 2010 during harvest last month.
CHICAGO (Reuters) – The loud, colorful traders who jostle for deals in Chicago’s famed open-outcry pits now face an even greater threat than the advent of electronic dealing systems — the algorithmic trade, says the director of a new documentary charting the demise of floor trading.
More a living funeral than a eulogy, the film “Floored” that debuted on Friday recounts the transition from the bustling salad days of burly alpha males to a market dominated by faceless computer-based traders across the globe.
CHICAGO (Reuters) – The CME Group’s <CME.O> distillers’ grain futures contract that debuts in April can be a tool for corn-based ethanol makers to hedge their risk, but the true measure of its success would be its ability to attract deep-pocketed traders looking for investment opportunities.
“It has potential and could be utilized by ethanol makers. The trick will be to get spec (speculative) interest in it to add liquidity and do that without getting so erratic that you drive away commercial trade,” said Jerry Gidel, analyst for North America Risk Management Inc.