GFM Network News

China and others quietly binged on U.S. grain during government shutdown

China and other big grain importers embarked on a corn and soybean buying spree during the U.S. government’s 16-day shutdown last month, taking advantage of a lapse in mandatory reporting of their deals, data showed Oct. 31. Figures from the U.S. Department of Agriculture, which had halted collection of required weekly grain export sales information […] Read more

Cargill to distribute Australian grass- and grain-fed beef in U.S.

Cargill Food Distribution has partnered with beef processor Teys Australia to provide Australian beef from grass- and grain-fed cattle to the U.S. market, according to a Cargill statement Sept. 30. Teys’ beef will be distributed through Cargill Food’s nine U.S. distribution centres. Teys manages six accredited export beef-processing plants, two feedlots and is a leading […] Read more

U.S. farm loans by private banks jump in late 2012

Farm lending by U.S. commercial banks soared during the fourth quarter of 2012 as farmers borrowed at low interest rates to buy costly livestock feed, new machinery, and fuel for harvest as well as to prepay for seed and fertilizer for the 2013 crop season, the Federal Reserve Bank of Kansas City said Jan. 30. […] Read more

Cargill profit quadruples, led by grain sector

U.S. agribusiness giant Cargill Inc. said Jan. 9 quarterly earnings quadrupled, led by profits from trading operations amid the effects of last summer’s U.S. drought, the worst in more than 50 years. Minneapolis-based Cargill, one of the world’s largest privately held businesses and a leader in world commodity markets, said net earnings soared to $409 […] Read more

Veteran poultry processor seeks bankruptcy protection

Growing list Eighth poultry firm to be sold, file for bankruptcy or be shut down since 2011

California poultry processor Zacky Farms LLC has filed for bankruptcy protection, citing high feed costs following the worst drought in half a century. The family-owned company, whose roots in the poultry industry date back to the 1920s, employs about 1,500 people. Historically high feed prices led to “significant operating losses that have depleted its liquidity […] Read more

U.S. Hog, Poultry Firms To Extend Use Of Feed Wheat

The surprise drop in U.S. corn feed demand this summer may be only the beginning of a yearlong reduction as chicken and hog producers break a long-held aversion to blending more wheat into rations. What initially began as a summer fling sparked by an unprecedented premium for corn prices over wheat has turned into an […] Read more