July 30 (Reuters) – U.S. livestock and poultry producers
have asked that the federal Environmental Protection Agency
waive for the first time the required use of ethanol in U.S.
gasoline as the drought has devastated the corn crop, the
primary feedstock of the biofuel.
Corn futures soared to a record this month at the Chicago
Board of Trade as the most extensive drought in five decades
reduced the yield potential of the developing crop.
(Reuters) – The most extensive drought in five decades intensified this week across the U.S. Midwest and Plains states that produce most of the county’s corn, soybeans and livestock, a report from climate experts showed on Thursday.
Almost 30 percent of the nine-state Midwest was suffering extreme drought, nearly triple from the previous week, according to the U.S. Drought Monitor for the week ending July 24.
CHICAGO, July 20 (Reuters) – Large speculators raised their
net long stake in corn to the biggest in more than three months
as the most extensive drought in the United States in 56 years
triggered a sharp rise in corn prices, regulatory data released
on F rid ay showed.
The Commodity Futures Trading Commission’s weekly
commitments of traders report also showed that noncommercial
traders, a category that includes hedge funds, boosted their net
long stake in soybeans to the most since early May in the five
trading days ended July 17.
CHICAGO (Reuters) – Indiana farmer Brian Scott saw on Thursday the heaviest rains of the year soak his 2,300-acre farm in the throes of the worst drought in five decades, but they were a mixed blessing at best.
The downpour came too late for his corn crop, which was already past the critical stage of setting yields. His soybeans, though, could get better and set more pods.
NEW YORK/CHICAGO (Reuters) – Commodities rose on Monday, adding to last week’s gains as investors grew more hopeful about more monetary easing in China and the United States, boosting prices of oil and other raw materials.
On the agricultural side, corn, wheat and soybeans hit new contract highs as crops withered in extreme heat and drought in the U.S. Midwest, prompting the government to revise downward its assessment of crop conditions.
CHICAGO (Reuters) – Wal-Mart Stores Inc has long used its commercial might to forge a global supply chain with ruthless efficiency. It now has a new target: U.S. wheat fields.
As part of efforts to reduce its carbon footprint and burnish its image as an environmentally responsible company, the huge retailer is sending senior employees into the fields for the first time ever, looking for ways to help farmers reduce their use of carbon-intensive fertilizer or improve logistics.
CHICAGO, June 21 (Reuters) – Wal-Mart Stores Inc has
long used its commercial might to forge a global supply chain
with ruthless efficiency. It now has a new target: U.S. wheat
As part of efforts to reduce its carbon footprint and
burnish its image as an environmentally responsible company, the
huge retailer is sending senior employees into the fields for
the first time ever, looking for ways to help farmers reduce
their use of carbon-intensive fertilizer or improve logistics.
CHICAGO/KANSAS CITY, June 19 (Reuters) – The U.S. ethanol
industry is hunkering down for another spell of deep losses,
with a second producer temporarily shutting a Nebraska plant on
Tuesday as diminishing corn supplies and lackluster gasoline
demand crush profit margins.
Valero Energy Corp is idling its 110 million gallons
(500 million liters) a year plant in Albion, Nebraska, but
expects it to resume operations before the autumn corn harvest,
when prices should start to ease and supplies become more
plentiful, spokesman Bill Day said.
CHICAGO (Reuters) – U.S. grain markets rallied on Wednesday, with corn up 3.3 percent, tracking gains in other commodities as the dollar weakened and investors waded into riskier assets on growing hopes for a solution to the euro zone debt crisis.
At the Chicago Board of Trade, corn climbed to near a two-week high while soybeans hit a one-week high, rising 2.7 percent for their biggest daily gain since March 30. Wheat also rose as the greenback lost ground to the euro after the European Central Bank left interest rates unchanged, as expected.
CHICAGO (Reuters) – U.S. wheat fell 2.3 percent on Tuesday, declining for the sixth time in the last seven sessions, as the dollar firmed and the harvest in the United State progressed at a record pace.
Corn futures also eased, with the new-crop December contract shedding 3.0 percent, as U.S. crop conditions stabilized and the rising greenback limited demand for exports priced in the U.S. currency.