Chicago | Reuters –– Egypt, the world’s top wheat importer, faces US$860 million in extra costs and lost export opportunities this year because of “unorthodox agricultural measures,” including a zero-tolerance policy on ergot fungus in wheat, the U.S. Department of Agriculture said Thursday in a report. The report, from a USDA attache in Cairo, criticized
‘Unorthodox’ agriculture policies seen costing Egypt
U.S. grains: Soybeans notch longest bull run in 43 years
Chicago | Reuters — U.S. soybean futures rose for the ninth straight week, the longest bull run in 43 years, on expectations that crop problems in Brazil and Argentina will steer more export business to the U.S. The U.S. Department of Agriculture (USDA) confirmed increased demand in a monthly crop report that raised the government’s
Canada’s hog farmers suspect U.S. truck washes in PED fight
Reuters — Canadian farm groups are blasting U.S. truck washes for being too dirty to prevent the spread of a virus that has killed millions of piglets in recent years, exposing a dispute over the effectiveness of such facilities in North American agriculture. The brewing battle over trucks comes as Manitoba, which slaughters more swine
HC2 broadens offer for U.S. grain handler Andersons
Chicago | Reuters — HC2 Holdings Inc. broadened its offer to buy pieces of The Andersons Inc. on Thursday, days after the loss-making U.S. grain handler said an earlier proposal to break up its business units was dead on arrival. HC2, a holding company run by former hedge fund manager Philip Falcone, said it would
U.S. EPA draft report calls out atrazine for risk to animals
Chicago | Reuters — One of the most popular herbicides in U.S. agriculture can be dangerous to animals and fish and leaves behind worrisome residue levels, the U.S. Environmental Protection Agency said on Thursday in a draft report that sparked outrage among farmers. The agency’s assessment of atrazine could lead to tighter regulatory limits on
U.S. watchdog to review cattle pricing, high-speed trading
Chicago | Reuters — A U.S. watchdog agency will launch a review of cattle pricing, including the impact of high-frequency trading on futures, after ranchers complained about a sharp price drop last year. The U.S. Government Accountability Office (GAO) has accepted a request from the Senate judiciary committee to study the reasons for the decline,
U.S. grains: Rallying greenback sparks broad-based selloff
Chicago | Reuters — U.S. grain and soybean futures dropped to their lowest levels in about a week on Thursday as gains in the dollar prompted investors to take profits out of commodities after recent rallies. Broad-based selling hit the sector as the dollar firmed on expectations that the Federal Reserve could raise U.S. interest
U.S. holding company offers to buy grain handler Andersons
Reuters — HC2 Holdings Inc., a company run by former hedge fund manager Philip Falcone, said on Tuesday it has made a bid to buy U.S. grain handler Andersons Inc for about US$1 billion in cash. Andersons is not looking to be acquired, the company’s new CEO told Reuters a day earlier. “As a public
U.S. grains: Prices soar as fund money flows to commodities
Chicago | Reuters — U.S. grain and soy futures jumped on Tuesday as investors sunk money into commodities, extending a run-up in prices linked to poor weather that has hurt harvests in South America. Commodity funds were net buyers of up to 14,000 corn contracts and 11,000 soybean contracts, a hefty amount that helped lift
U.S. grain firms rejecting GMO crops that lack global approval
Reuters — Across the U.S. Farm Belt, top grain handlers have banned genetically modified crops that are not approved in all major overseas markets, shaking up a decades-old system that used the world’s biggest exporting country as a launchpad for new seeds from companies such as Monsanto. Bold yellow signs from global trader Bunge are
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