CNS Canada — Soybean and corn futures at the Chicago Board of Trade fell to fresh four-year lows during the week ended Wednesday, and there is still plenty of room to the downside as the harvest pressure builds over the next month. “It will be a long harvest,” said Scott Capinegro, president of Barrington Commodity […] Read more
Big crops keep pressure on CBOT soybeans, corn
CME says no current plans to introduce VSR in corn futures
Chicago | Reuters — CME Group, owner of the Chicago Board of Trade grain exchange, said on Wednesday it had no immediate plans to introduce its controversial variable storage rate (VSR) scheme in its CBOT corn futures, the world pricing benchmark for the biggest and most valuable feed grain. “We have no current plans to […] Read more
Dow’s Enlist corn, soybeans face hurdles despite USDA approval
Reuters — U.S. approval of Dow AgroSciences’ new genetically-modified corn and soybeans takes the agricultural giant a step closer to its “most important” product launch ever, but a series of hurdles remain, the company said Thursday. “We sure are aware of the concerns that have been expressed,” said Dow AgroSciences president Tim Hassinger in an […] Read more
Syngenta faces second suit over GM corn China rejected
Chicago | Reuters — A second company has sued Syngenta over sales of genetically modified corn seed not approved by China, raising the stakes for the Swiss-based seed maker by including byproducts used for animal feed in its complaint and seeking class-action status. Trans Coastal Supply Co., a major exporter of livestock feed products, said […] Read more
USDA grants approval to Dow’s Enlist corn, soybeans
Reuters — The U.S. Department of Agriculture on Wednesday gave final approval to new genetically modified corn and soybeans developed by Dow AgroSciences that, while criticized by environmentalists and some farmers, are portrayed by Dow as an answer to weed resistance problems that limit crop production. The approval may clear the way for a full […] Read more
Cargill says closing Memphis corn mill
Reuters — Cargill Inc. will close a corn mill in Memphis, Tenn., in January of next year, a move that will impact 440 employees, a company spokeswoman said. “The closure of the facility results primarily from the underutilization of the Memphis facility and its higher cost position,” spokeswoman Nicole Marlor said in a release, adding […] Read more
‘Average’ Manitoba corn harvest pushed back
CNS Canada –– A southern Manitoba corn agronomist says most corn farmers in the province can expect to see average yields this season. “Normally harvest would begin in late September but I would be surprised if that happened. I think it will be the first or second week of October,” said Morgan Cott of the […] Read more
Cargill suing Syngenta over sale of GM corn banned by China
Chicago | Reuters — Cargill, the top U.S. grain exporter, sued a unit of Syngenta in a Louisiana state court on Friday for damages stemming from China’s rejection of genetically modified U.S. corn, which Cargill said cost the company more than US$90 million. Minnesota-based Cargill accuses Syngenta of exposing the grain trader to losses by […] Read more
Good weather, looming record harvest weigh on CBOT beans, corn
CNS Canada — Soybean futures on the Chicago Board of Trade fell lower during the week ended Sept. 3, despite some short-covering near the end of August, according to an analyst. The U.S. Department of Agriculture on Tuesday released its weekly crop progress report which pegged 72 per cent of the U.S. bean crop as […] Read more
GRAINS: Nearby soy rallies on low old-crop supply; MGEX wheat jumps
Reuters — Nearby U.S. soybean futures climbed to a one-week high on Friday as U.S. processors scrambled to find scarce old-crop supplies, with the start of the next harvest still at least a month away in the Midwest. MGEX spring wheat futures touched a two-week high amid concerns about excessive rains hurting crops in key […] Read more
Cyber-Savvy Farmer
