Futures industry shaken as another broker goes bankrupt

Reuters / Russell Wasendorf Sr., arrested last Friday, confessed to a 20-year fraud at Peregrine Financial Group (PFG), his now-bankrupt Iowa brokerage, saying business troubles and his “big” ego left him no choice: “So I cheated.” In the dramatic conclusion to a week-long saga that has shaken trader confidence in the trillion-dollar U.S. futures markets,

Your Door Is Ajar

DAVE BEDARD It’s not been much fun in retail these past few years for those selling fertilizer to farmers. If you had to restock when prices skyrocketed, then deal with outraged farmers who declined to pay those prices, you’d start to wonder how the next growing season would pan out. If you were then stuck


Pop Makers Opposed To Soft Drink Tax

More U. S. health experts are calling for taxing sweetened soft drinks, saying such taxes could fight obesity and be used to fund public health efforts. New York City health commissioner Dr. Thomas Farley, nutritionist Dr. Walter Willett of the Harvard School of Public Health, Kelly Brownell, an obesity expert at Yale University in Connecticut

Heart Group Draws Hard Line On Sugar Intake

Americans need to cut back dramatically on sugar consumption, the American Heart Association said Aug. 24 in a recommendation likely to rile food and beverage companies. The group said women should eat no more than 100 calories of added processed sugar per day, or six teaspoons (25 grams), while most men should keep it to


U. S. Hog Reduction Effort Floated

Asmall group of U. S. hog producers has devised an industry-financed plan to reduce the domestic hog herd as a means of restoring profits to an industry that has been losing money since late 2007. Called the Producer Retirement Program, the goal is to collect $50 million to $60 million, which would then be used

One-Fifth Of U. S. Ethanol Capacity Idled

U. S. ethanol producer and grain processor Archer Daniels Midland Co. said Feb. 3 nearly 21 per cent of U. S. ethanol production capacity has been shut due to weak demand and poor margins. U. S. ethanol plants with a production capacity of 10.2 billion gallons per year are currently operating, down from a peak


EU milk farmers to absorb quota rise, price is key

“It’s very much a political deal… without maybe looking at what the best solution would be for the entire region.” – MARK VOORBERGEN, RABOBANK ANALYSIS BY JEREMY SMITH BRUSSELS/REUTERS Europe’s dairy farmers should gain more production flexibility after farm ministers agreed to a series of quota increases from 2009 but are unlikely to churn out

U. S. grain group asks forced loadout of CBOT wheat

The National Grain and Feed Association (NGFA) has asked the Chicago Board of Trade to consider forcing buyers of CBOT wheat contracts to take physical delivery of grain in some instances in order to bring the contract and cash grain markets back in sync. The NGFA, the largest industry group of grain buyers and handlers,