Chicago | Reuters — U.S. agribusiness Archer Daniels Midland on Tuesday reported higher quarterly earnings as a record-large U.S. harvest boosted grain volumes and supported strong exports, though revenue fell short of expectations. Earnings in agricultural services, ADM’s biggest business segment in terms of revenue, grew as bumper U.S. corn and soybean crops replenished thinned […] Read more
ADM profit jumps as big U.S. harvest boosts ag services
Cargill profit surges as lower grain prices spur demand
Reuters — Replenished grain supplies following a bumper North American harvest bolstered global commodities trader Cargill’s bottom line in its latest quarter as lower prices lifted demand for crops and padded margins on meat sales. Privately-held Cargill, based in Minnesota, reported net earnings of $784 million for the second quarter ended Nov. 30, up 41 […] Read more
U.S. grains: Soybeans hit one-month low on technicals, rising world supply
Chicago | Reuters — U.S. soybean futures dropped to a one-month low on Friday on technical selling and pressure from rising global supplies as South American growers are expected to harvest bumper crops in the coming weeks. Technical selling also dragged corn and wheat prices to their lowest in three weeks, while a firmer U.S. […] Read more
U.S. grains: Bumper crops drag soy to biggest yearly loss in decade
Chicago | Reuters –– U.S. soybean futures fell Wednesday and ended 2014 with their biggest loss in a decade as bumper production in the U.S. and South America replenished global supply of the protein-rich oilseed. Corn and wheat also fell during the session and posted annual declines against a backdrop of ample worldwide supply. But […] Read more
U.S. grains: Wheat drops on technical selling, drags corn lower
Chicago | Reuters — U.S. wheat futures tumbled on Tuesday on profit taking and technical selling and as the dollar’s strengthening against the euro added to already-challenging U.S. wheat export prospects. Corn followed wheat lower in a profit-taking setback after the market hit a near six-month high the previous day, while soybeans closed lower after […] Read more
U.S. grains: Corn drops from peak, soybeans turn lower
Chicago | Reuters –– U.S. corn futures declined on Monday on technical selling and profit-taking after stronger-than-expected weekly export sales earlier lifted the market to its highest in nearly six months. Soybeans also turned lower after earlier hitting a 6-1/2 week high, pressured by technical selling and easing soymeal prices. Wheat futures closed higher for […] Read more
Normalized relations with Cuba seen positive for U.S. agriculture
Chicago | Reuters — The normalization of diplomatic relations between the United States and Cuba is an “important opportunity” for U.S. agriculture that will make exports of U.S. farm goods cheaper, easier and less time consuming for shippers, U.S. Agriculture Secretary Tom Vilsack said Wednesday. President Barack Obama announced on Wednesday that the U.S. plans […] Read more
U.S. grains: Corn soars to five-month peak on technicals, fund buying
Chicago | Reuters — U.S. corn futures surged more than two per cent on Friday, with the benchmark contract rising above US$4 a bushel to its highest in nearly five months, fueled by technical buying and heavy buying by commodity funds. Wheat futures extended a rally to move above the psychological $6-a-bushel barrier as buying […] Read more
U.S. grains: Wheat rallies late, ends up on fund buying
Chicago | Reuters — U.S. wheat futures rallied 2.6 per cent on Thursday, ending a choppy trading session with a late-day surge on short-covering and fund buying amid talk of a slowdown in exports from Russia. Corn futures rose to a one-month high on strong export sales and technical buying, but prices closed below their […] Read more
ADM suing Syngenta over rejections of GMO corn
Reuters — Archer Daniels Midland sued seed company Syngenta on Wednesday over sales of a genetically modified corn variety not approved for import by China, joining more than 100 farmers and exporters in pursuing damages from the Swiss company. The lawsuit alleges Syngenta commercialized the MIR162 corn variety, also known as Agrisure Viptera, without creating […] Read more
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