Tom's Feed
Jul 2, 2015

Hungry hogs, cattle gobble up grain during U.S. bird flu outbreak

CHICAGO (Reuters) – Higher numbers of hogs, cattle and broiler chickens are gobbling up animal feed, eating into supplies that were expected to grow due to the loss of 48 million chickens and turkeys in the worst-ever outbreak of bird flu in U.S. history.

The U.S. Department of Agriculture shocked markets on Tuesday when it reported that corn stocks as of June 1 were 2 percent smaller than traders and analysts had expected and soybean stocks were about 7 percent tighter.

Jun 30, 2015

USDA data ignite biggest daily rallies in 5 years

CHICAGO, June 30 (Reuters) – U.S. grain and soybean futures
on Tuesday climbed to their highest prices since December after
the U.S. Agriculture Department said crop stockpiles and spring
plantings were smaller than analysts expected.

Traders are keeping a close eye on supply data amid
uncertainty about how big the autumn corn and soybean harvests
will be, following weeks of heavy rains in the Midwest. The
storms have prevented farmers from finishing planting soybeans
and raised concerns about yield losses.

Jun 29, 2015

U.S. rains attract grain buyers’ attention, but not business

CHICAGO, June 29 (Reuters) – Heavy rains swamping U.S.
farmland are grabbing the attention of global grain buyers as
prices of corn and soybean futures soar on concerns about damage
from the deluge.

But demand for U.S. exports probably will not surge as the
weather worries spread beyond the farmhouses and coffee shops of
the rural Midwest. There is still plenty of cheaper grain
available from other countries.

Jun 25, 2015

CME traders face uphill battle to delay pit closures: lawyers

CHICAGO (Reuters) – U.S. regulators will likely allow CME Group Inc to close most of its open outcry futures pits as planned next month, despite last-minute calls from a handful of traders and brokers for an extended review, industry lawyers said on Thursday.

CME adequately responded to concerns four traders and brokers submitted to the U.S. Commodity Futures Trading Commission (CFTC) in letters on Thursday and last week, according to attorneys who reviewed regulatory filings at Reuters’ request, but who are not involved in the matter.

Jun 24, 2015

CME traders push regulator to delay futures pit closure by 90 days

CHICAGO, June 24 (Reuters) – CME Group Inc’s plan to
close most of its futures pits next month is facing its first
organized opposition from a small group of Chicago traders and
brokers who have hired a law firm to push regulators to give
more time for review.

Lawyers from Katten Muchin Rosenman sent a letter to the
Commodity Futures Trading Commission on behalf of the group, who
work on CME’s open-outcry financial trading floor in Chicago, to
request a 90-day review on the closure of the pits, traders
backing the effort said on Wednesday.

Jun 24, 2015

White nationalists condemn church killings, identify with shooter

ABBEVILLE, South Carolina (Reuters) – Leaders of America’s core white supremacist groups have a laundry list of perceived grievances. They say the media ignore black on white crime; that desegregation has led to poorer schools for white students; that white people in the United States have lost power to black people.

And while they don’t condone last week’s shootings of nine black worshipers at a Charleston church, many of the leaders say they understand the motivation behind the attack – and predict more violence to come.

Jun 24, 2015

Insight – White nationalists condemn church killings, identify with shooter

ABBEVILLE, South Carolina (Reuters) – Leaders of America’s core white supremacist groups have a laundry list of perceived grievances. They say the media ignore black on white crime; that desegregation has led to poorer schools for white students; that white people in the United States have lost power to black people.

And while they don’t condone last week’s shootings of nine black worshipers at a Charleston church, many of the leaders say they understand the motivation behind the attack – and predict more violence to come.

Jun 17, 2015

Floods disrupt grain shipping on Illinois River

CHICAGO (Reuters) – Flooding halted barge traffic on the Illinois River on Wednesday and high water levels prompted futures market operator CME Group Inc to declare force majeure for all corn and soybean shipping stations for the first time in more than two years.

Barge lines have voluntarily stopped shipping traffic after heavy rains, river merchants said. CME, which owns the Chicago Board of Trade (CBOT) and other markets, said a majority of shipping stations on the river were unable to load crops due to high water levels.

Jun 11, 2015

U.S. lawmakers to examine worst-ever bird flu outbreak

CHICAGO (Reuters) – The U.S. Senate Agriculture Committee is set to hold a hearing next month on the deadliest-ever outbreak of bird flu in U.S. poultry amid mounting criticism from Iowa lawmakers about the speed of the U.S. Agriculture Department’s response.

Sen. Pat Roberts, a Kansas Republican and committee chairman, is expected to hear testimony on the USDA’s response and funding for its efforts on July 7, spokeswoman Meghan Cline said.

Jun 10, 2015

U.S. egg prices to hit record high due to bird flu-USDA

CHICAGO, June 10 (Reuters) – The average price of a dozen
eggs in the United States will climb to a record high this year
due to the nation’s worst-ever outbreak of bird flu in poultry,
U.S. Department of Agriculture data issued on Wednesday showed.

The USDA, in a monthly supply and demand report, increased
its forecast for the price of Grade A large eggs in New York in
2015 to $1.60 to $1.66 per dozen. That is up from its May
estimate of $1.30 to $1.36, and tops last year’s average price
of about $1.42, which was a record high, according to USDA data.