MGE converts to electronic platform

After more than 125 years, open-outcry trade in wheat futures at the Minneapolis Grain Exchange will cease Dec. 19 when the exchange goes fully electronic, the exchange said Oct. 24. The exchange’s board of directors unanimously approved the move, pending approval by ownership in a ballot next month. Hard Red Spring wheat futures, launched in

Ethanol no longer seen as big driver of food price

Heavy demand for corn from ethanol makers was seen as a key driver of corn futures to record highs in June, but since then the sharp decline of corn along with other commodities shows that belief was mistaken. Corn is down about 50 per cent from its record high in June, even as the amount


At least land won’t evaporate

There are few winners in a market meltdown like the one we’re experiencing, although we hear rumours that hardware stores are doing a booming trade in shovels. It seems folks figure digging a hole in the backyard and burying their savings is now a safer bet than mutual funds. That’s about the only consolation we

Changes sought to CBOT wheat contract

Big global grain buyers have told U. S. regulators that the Chicago Board of Trade needs to improve on a plan to narrow a gap between wheat futures and cash prices that has hurt their ability to hedge big price swings. Major grain companies that questioned the CBOT plan included Cargill Inc. and Bunge Ltd.


How low can U. S. grains go?

“We are seeing a lot of wealth destruction and demand destruction. I don’t think that is going to heal itself overnight.” – U. S. Grains Analyst Jim Bower The sell-off in grains as part of a broader flight of investment money from commodities could continue through year’s end due to the expanding credit crisis, with