Reading Time: 2 minutes Reuters / CME Group Inc. chief executive Phupinder Gill on Nov. 1 denied that the exchange operator changed its settlement rules to give electronic grain traders an advantage over veterans of the Chicago trading floor, who have sued the company, saying its new rules are killing their business. Gill testified as the trial opened in […] Read more
CME defends end-of-day settlement rules
GRAINS-Corn sets 3-year low as u.s. harvests overshadow demand
U.S. corn futures slumped to their lowest levels in more than three years on Thursday as the large harvest under way in the United States overshadowed blockbuster export sales. An influx of grain from the advancing harvest was expected to replenish crop inventories that were drained by strong demand following a historic U.S. drought last […] Read more
GRAINS-U.S. Soybeans dip ahead of active U.S. harvesting weekend
U.S. soybean futures edged lower on Friday and corn futures were little changed ahead of what is expected to be an active weekend of harvesting in the United States, the world’s top producer of both crops. Projections that the U.S. harvest will continue to uncover larger-than-expected yields kept a lid on futures prices, despite robust […] Read more
ADM wants to keep headquarters in Illinois
Reading Time: < 1 minute Reuters / Archer Daniels Midland Co. wants to locate a new global headquarters in its current home state of Illinois, Ray Young, the agribusiness company’s chief financial officer said Oct. 1. ADM said last week it was scouting locations for a new corporate headquarters because the company has become more global. Its headquarters have been […] Read more
CME to monitor alternate hog pricing against manipulation
CME Group, the largest U.S. futures market operator, said Tuesday it will step up surveillance of its lean hog futures next week to prevent price manipulation under a pricing formula the exchange adopted to cope with the shut down of the U.S. government. The closer look from the exchange operator’s market regulation department will guard […] Read more
With U.S. government shut, private data providers step in
When the U.S. Department of Agriculture went dark this week due to the partial government shutdown, phones lit up at commodities firm Urner Barry. USDA typically provides quotes on beef, pork and chicken prices, but 156-year-old New Jersey-based Urner Barry quickly became the go-to source for livestock traders searching for market quotes. “It’s certainly been […] Read more
Cargill picks new CEO to take over Dec. 1
Reading Time: 2 minutes Reuters / Agribusiness Cargill Inc. announced David MacLennan, its president and chief operating officer, will be its new chief executive officer Sept. 12. MacLennan replaces CEO Gregory Page, 62, who is stepping down. MacLennan told Reuters that Cargill will keep on the same path set under Page’s leadership, focusing on investments outside of North America […] Read more
CBOT soybean futures fall on profit-taking after rally
U.S. soybean futures sank on Friday as traders took profits following a surge in prices the previous day, while corn futures sagged from a larger-than-expected U.S. harvest outlook. Wheat futures also traded lower. The decline in soybeans was an about-face from Thursday, when the new-crop November contract climbed 2.8 per cent after a monthly U.S. […] Read more
Corn futures sink after USDA increases U.S. crop; soy soars
U.S. corn futures tumbled on Thursday after the U.S. Department of Agriculture surprised traders by increasing its harvest forecast despite a late-summer stretch of hot, dry weather in key crop areas. Soybean futures soared after the USDA, in the same monthly report, made a larger-than-expected cut to stocks remaining at the end of the crop […] Read more
Cargill picks new CEO
Agribusiness Cargill Inc. on Wednesday said its CEO will step down on Dec. 1 in the latest management shuffle among the world’s top agricultural trading houses. Gregory Page, 62, will be replaced by David MacLennan, Cargill’s president and chief operating officer, as part of the company’s ongoing succession plans, the company said. MacLennan told Reuters […] Read more
Cyber-Savvy Farmer
