GFM Network News

Short covering surge could boost U.S. wheat

The U.S. Department of Agriculture just upwardly revised U.S. wheat production prospects on the back of better-than-expected yield reports emerging from the ongoing U.S. harvest. But even as harvest progress continues to weigh on near-term market sentiment, wheat prices are at risk of pushing higher as global demand prospects pick up and jittery short-biased speculative

U.S. corn prospects threatened as drought lingers in the west

Most of the top corn-producing states in the western half of the Midwest are suffering from much worse drought conditions than a year ago and so are heading into the spring planting season with historically dry soils

Reuters / The recent spell of rain and snow across much of the United States has raised expectations that overall field conditions are recovering from last year’s drought and that the crops planted this spring will get off to a strong start with access to adequate moisture reserves. But despite appearances, the grip of last

2013 not a good year to be sports party host

Reuters / Calendars tend to get crammed around this time of year with parties for various televised sporting events that invariably involve classic and nutritious American staples such as chicken wings, chili and potato chips — washed down by a beer or two. But this year, stocking a house full of such goodies could break

Have U.S. corn farmers lost their edge?

For the first time on record, U.S. farmers have fallen out of the top two-yielding corn and soybean producers in the world after drought conditions dented production of both crops. The USDA says 2012-13 corn yields in Argentina and Canada will both top the 123.4 bushels an acre averaged in the U.S., while soybean growers

After a bumper harvest in 2012, India poised to be a new wheat export powerhouse

Government reserves now have reached 31 million tonnes, second only to China and three times the official target levels

Reuters / While most other major wheat growers around the world suffered from production setbacks in 2012 due to drought, India’s farmers had a banner year which has resulted in a glut of wheat supplies at state-run warehouses and export facilities. India’s state reserves of wheat have reached 31 million tonnes (34 million tons) —

Drought repercussions will weigh on livestock sector for months to come

Low protein in soymeal and higher toxin levels in distillers grains add new challenges for pig, poultry and cattle feeders

Reuters / The repercussions of this year’s drought across the U.S. Midwest will likely continue to affect the livestock feeding industry for many months to come. Drought not only impacted the quantity of crops produced but also quality, leading to abnormally low protein content in soybeans and higher-than-usual toxin levels in corn that stand to