Russia Grain Crop Down 33.2 Per Cent

MOSCOW/REUTERS Drought-devastated Russia harvested 60.96 million tonnes of grain by bunker weight as of Oct. 5, down 33.2 per cent from a year ago, according to Agriculture Ministry data seen by Reuters Oct. 11. Russia’s worst drought in more than a century sparked a rally in global grain markets, pushing wheat prices to their highest

Farmer Hedges Follow Canola Upward

The roller-coaster ICE Futures Canada canola market climbed to some very high levels during the week ended Oct. 8, hitting the elusive $500-per-tonne level for the first time in many months at one point Friday before backing away as harvest pressure and profit-taking came forward. The gains were largely a knee-jerk speculative reaction to some


EU’s Big States Confirm Opposition To GM Crop Plans

Proposals to let EU states decide for themselves whether to grow or ban genetically modified (GM) crops suffered a big setback Sept. 27 as many of the bloc’s largest governments confirmed they opposed the plans. To pass, the proposals put forward by the European Commission in July will need the support of a majority of



PotashCorp Suit Versus BHP Allowed To Proceed

CHICAGO/REUTERS AU. S. federal judge said on Sept. 27 he would allow the discovery process to proceed in a lawsuit filed by PotashCorp to fend off BHP Billiton’s $39-billion hostile takeover bid. The lawsuit, filed last week in a U. S. District Court in Chicago, alleges that BHP misrepresented material facts related to its bid



EU Targets Market Speculation – for Sep. 23, 2010

BRUSSELS/PARIS/REUTERS The European Commission is taking aim at growing speculation and volatility in commodity markets, using its plan to reform wider financial markets, just as EU grain futures hit contract highs Sept. 20. Michel Barnier, the European Commissioner in charge of financial reform services, said at a conference that he wanted to use a planned

Futures Rise On Fallout From Frosts – for Sep. 23, 2010

Canola futures on the ICE Futures Canada trading platform experienced a significant push upward during the week ended Sept. 17, with much of the upward momentum linked to the frost which hit much of the Prairies. The frost which occurred overnight both Thursday and Friday of last week was said to have been significant, as


Argentine Wheat Crop Off To A Good Start – for Sep. 16, 2010

BUENOS AIRES/REUTERS Argentina’s wheat area is seen slightly bigger than previously forecast and rains have brought relief to crops in recent days, Buenos Aires Grains Exchange said in a report Sept. 9. Argentina is one of the world’s leading wheat suppliers and markets have been closely watching dry conditions affecting 2010- 11 crops in recent