Soybean industry forms national voice for sector

Soy Canada will drive growth for Canada’s soybean value chain

Representatives from across Canada’s soybean industry have united under one organization to promote and advocate for the industry. To date, 27 organizations and companies have signed a letter of intent to support the formation of the organization, the fledgling group says in a release. Soy Canada will act as a unified voice to address industry […]

Cargill says closing Memphis corn mill — September 17, 2014


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 […]

Pit traders abandon lawsuit against CME over grain rules — September 17, 2014


Chicago | Reuters – Veteran traders from Chicago’s grain pits on Tuesday dropped a lawsuit against CME Group that sought to reverse a change to end-of-day settlement rules they said was killing open-outcry business. The traders, who work on the Chicago Board of Trade’s 140-year-old agricultural trading floor, agreed to abandon their claims against the […]

USDA chief says urged Buffett to ready BNSF for record crops — September 17, 2014


Washington | Reuters – U.S. Agriculture Secretary Thomas Vilsack met with Warren Buffett last week to urge the billionaire investor to make sure his BNSF railroad is ready for an expected record corn and soy harvest this year. Vilsack said on Tuesday that Buffett, who heads the sprawling conglomerate Berkshire Hathaway, recognized the challenge and […]

Crop damage limited from freeze in northern U.S. Midwest — September 16, 2014


Chicago | Reuters — The first freeze of the season hit the northern U.S. Midwest corn and soybean belt over the weekend, but the weather did not stay cold long enough to cause major damage to crops, agricultural meteorologists said on Monday. “There was some frost and a few light freezes but nothing that was […]

U.S. spring wheat protein premiums soar after wet, cool summer — September 16, 2014


Chicago | Reuters – Cash prices for top quality U.S. hard red spring wheat are soaring as the rain-delayed harvest throws up lower-than-average protein levels, and traders and analysts said outsized premiums are likely to continue for months. Farmers are expecting the largest harvest in four years as wet, cool weather swells yields. But that […]

Food ban, population influx seen boosting Russia grain demand — September 16, 2014


Moscow | Reuters – Russia’s ban on most Western food, the assimilation of the disputed Crimea region and people fleeing conflict in Ukraine are set to boost Russian grain demand this year, SovEcon, one of the country’s leading agriculture consultancies, said. Russia, expected to be the world’s third-largest wheat exporter this year, is harvesting a […]

Canada’s small fertilizer firms shuffle ranks, search for capital — September 16, 2014


Reuters — Capital-strapped small fertilizer companies in Canada are shuffling their senior executive ranks to draw investors in a period of weak prices. Stonegate Agricom Ltd., which is developing a phosphate mine in Idaho, said on Tuesday that CEO Mark Ashcroft resigned, the latest change at the top among small players in the sector. Others […]

Calif. governor OKs bills to regulate groundwater amid drought — September 16, 2014


Reuters — California Governor Jerry Brown signed a package of bills on Tuesday to regulate California’s stressed groundwater supplies amid a drought that is expected to cost the state US$2.2 billion in lost crops, jobs and other damages, with no end in sight. The bills will allow the state to take over management of underground […]

U.S. grains: Wheat, soybeans close lower; corn firms — September 16, 2014


Chicago | Reuters – U.S. soybean and wheat futures fell Tuesday, with soy pressured by technical selling and forecasts for good harvest weather, while U.S. wheat supplies struggled to find traction on the export market despite trading at four-year lows. Corn firmed, with traders noting a round of bargain buying that pushed prices into positive […]