Chicago | Reuters — Japan and South Korea have both taken steps to block certain imports of U.S. wheat after unapproved genetically-modified (GMO) plants from Monsanto seeds were found growing in Washington state, a spokeswoman for the U.S. Department of Agriculture (USDA) said on Monday. Japan’s Ministry of Agriculture, Fisheries and Forestry said it will […] Read more
Japan, Korea block certain U.S. wheat varieties
Rush for ag chem megadeals clogs regulatory path, worries farmers
Reuters — As Bayer joins the agricultural sector’s scramble to consolidate, its bid for Monsanto may be a tipping point for U.S. farmers, federal lawmakers and regulators concerned the tie-ups may harm the farm economy. If Monsanto accepts Bayer’s unsolicited offer, experts say, the deal would inevitably trigger a review by federal antitrust regulators. But […] Read more
U.S. lawmakers put pressure on EPA over glyphosate review
Chicago | Reuters — U.S. lawmakers have asked the Environmental Protection Agency (EPA) to explain why it published — and then withdrew — documents related to its review of glyphosate, the chemical in Monsanto’s Roundup herbicide, according to a letter seen by Reuters. The documents, which included a report that said glyphosate is not likely […] Read more
U.S. EPA pulls back report saying glyphosate not likely carcinogenic
Chicago | Reuters — The U.S. Environmental Protection Agency on Monday pulled a report offline that concluded glyphosate is not likely to be carcinogenic to humans, saying the document was inadvertently published and the agency had not finished its review of the chemical, a key ingredient in Monsanto’s Roundup herbicides. The 86-page report, seen by […] Read more
U.S. livestock: CME lean hogs surge amid summer grilling questions
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures for animals set to be delivered in July and August surged to all-new contract highs on Wednesday, as investors bet on tighter supplies being available for the summer grilling season. Demand from pork packers was a bit hit and miss, said one cash hog dealer […] Read more
U.S. livestock: Live cattle rise as traders exit nearby positions
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures closed higher on Tuesday, after traders exited nearby positions to avoid taking delivery and packers seemed to be bidding more aggressively than expected in the U.S. southern Plains. Traders said there was talk of Texas packers on Tuesday bidding in line with what they paid […] Read more
U.S. grains: Futures fall as USDA forecasts more corn acres
Chicago | Reuters — U.S. corn and soybean prices fell on Thursday as commodity traders reacted to forecasts of increased corn plantings and grain production, as well as predictions of falling prices in the coming growing season. But wheat futures bounced back during the day’s trading, firming for the first time in six sessions on […] Read more
U.S. grains: Prices jump on short-covering, oil rise
Chicago | Reuters –– Chicago Board of Trade corn futures gained for the second straight day on Wednesday, as the grain market enjoyed a price bump from investors continuing to cover short positions and as crude oil prices rose. Front-month CBOT March corn cracked through several moving averages during the day — including the 50-day […] Read more
Monsanto increases job cuts as corn, chemical sales slump
Reuters — Monsanto said a souring farm economy and currency woes will push its 2016 earnings to the lower end of expectations, while a cost-cutting drive will lead the world’s largest seed company to slash more jobs. Low commodity prices also should lead to more consolidation in the agricultural sector, CEO Hugh Grant said, about […] Read more
U.S. grain prices soar as floods shut waterways, threaten crops
Chicago | Reuters — U.S. grain farmers scrambled to find shelter for their crops and handlers hunted for alternative transportation routes, as widespread floods shut waterways from Illinois to Missouri and spurred a surge in physical prices of corn and soybeans. The sudden jump in prices could complicate a months-long stand-off between farmers who are […] Read more
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