Chicago | Reuters — U.S. wheat futures steadied on Wednesday, with the markets waiting for a good assessment of the crop damage caused by a snowstorm in Kansas over the weekend, traders said. Corn and soybeans rose but remained below levels hit earlier this week, supported by concerns that heavy rains in the Midwest and […] Read more
Cereals
U.S. grains: Wheat futures flat as damage assessed
ADM sees weaker ag services outlook on trading woes
Chicago | Reuters — U.S. agricultural trader Archer Daniels Midland (ADM) on Tuesday cautioned that massive global grain stocks are making it difficult to turn a profit trading grain internationally, sending its shares plummeting despite reporting a higher first-quarter profit. The warning highlighted a string of trading woes at ADM, which has shed several key […] Read more
Bunge profit dives as grain glut hits margins
Chicago | Reuters –– U.S. agricultural trader Bunge reported on Wednesday a sharply lower first-quarter profit and cut its full-year earnings forecast as slow crop sales by farmers in South America squeezed margins in its core agribusiness unit, sending shares tumbling. White Plains, N.Y.-based Bunge said net income available to shareholders plunged 82 per cent […] Read more
Proposed Dow, DuPont merger gets conditional nod from China
Beijing | Reuters — China has conditionally approved the proposed merger between Dow Chemical and DuPont, the country’s commerce ministry said on Tuesday, a step forward for the deal whose closing has been repeatedly delayed by regulatory hurdles. The merger was approved by EU antitrust regulators in March on the condition the companies divest assets […] Read more
U.S. grains: CBOT wheat futures weaken
Chicago | Reuters — Chicago Board of Trade wheat futures eased on Tuesday, partially retreating from a sharp rally on some profit-taking, traders said. But K.C. hard red winter wheat futures firmed, extending their rally amid concerns that a snowstorm in the U.S. Plains during the weekend caused severe damage to the maturing crop there. […] Read more
Pacific trade pact nations meet to discuss future without U.S.
Ottawa | Reuters — Negotiators from the remaining members of the Trans-Pacific Partnership (TPP) gathered in Canada on Tuesday seeking ways to boost free trade in the region after the U.S. pulled out of the 12-nation pact. The withdrawal killed off years of negotiations and left the region looking for ways to deepen economic ties […] Read more
Viterra buys North Dakota elevator
Prairie grain handler Viterra is expanding its reach in eastern North Dakota with a deal for Gavilon Grain’s elevator at Grand Forks. Regina-based Viterra said Monday it has closed its acquisition of Omaha-based Gavilon’s Grand Forks site for an undisclosed sum, and plans “immediate capital upgrades” for the elevator. The Grand Forks site, which was […] Read more
Agrium posts smaller-than-expected loss for quarter
Reuters — Agrium, the world’s biggest farm retailer, reported a smaller-than-expected loss on Monday, helped by higher selling prices for potash. The Calgary-based fertilizer and ag retail firm sold 636,000 tonnes of wholesale potash in the first quarter ended March 31 at an average of $208 per tonne, compared with 456,000 tonnes at $199 per […] Read more
Monsanto halts sale of Precision Planting arm to Deere
Monsanto subsidiary The Climate Corp. has cancelled a deal to sell its Precision Planting business to Deere and Co., citing the months-long court fight against it. The U.S. Department of Justice filed suit in August last year to block the proposed US$190 million deal, alleging the deal would lead to higher prices for high-speed precision […] Read more
U.S. grains: Corn, soy, wheat rally after weekend weather woes
Chicago | Reuters — U.S. wheat futures surged 5.2 per cent to their highest in nearly two months on Monday after a weekend snow storm in key production areas raised concerns about severe crop damage, traders said. Corn and soybean futures also rallied, with wet fields across the U.S. Midwest threatening to add further delays […] Read more
Cyber-Savvy Farmer
