CHICAGO (Reuters) – North Dakota wheat farmer Terry Weckerly applied extra fertilizer to his wheat this summer to coax more protein out of the crop. Flour mills and grain elevators were paying near-record premiums for high-protein wheat and he wanted a slice of it.
The fertilizer worked too well. Weckerly and other spring wheat farmers are harvesting a crop with protein content of more than 15 percent. The protein-richest crop in five years has led to those high premiums evaporating.
CHICAGO (Reuters) – Corn futures rose to a one-week high on Thursday as the government downgraded the corn crop by 4 percent after record-high heat in July sapped yield potential in the prime Midwest growing region.
Soybeans also surged, posting their biggest daily bounce since May, after the Department of Agriculture also cut its soy crop forecast more than expected.
CHICAGO (Reuters) – Mouse ears in the mud. It seemed a fitting end to the 20th anniversary of Lollapalooza, the three-day music festival that started under warm, sunny skies but ended on Sunday night in a rainy dance party.
The Canadian progressive dance music artist deadmau5 — pronounced like “dead mouse” — was one of two headliners, along with the Foo Fighters, to close out of the event.
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.