Texas drought losses pegged at $7.6 billion

college station, texas / Last year’s drought in Texas cost farmers and ranchers a record $7.62 billion, a newly released study says. “The $7.62-billion mark for 2011 is more than $3.5 billion higher than the 2006 drought loss estimates, which previously was the costliest drought on record,” said David Anderson, a livestock economist with Texas

IGC sees record maize crop in 2012-13

Global maize production is projected to rise to a record 900 million tonnes in 2012-13, outstripping demand for the first time since the 2008-09 season, the International Grains Council said April 2. The IGC, in a monthly report, also cut its forecast for the global maize stocks at the end of the 2011-12 season following



It’s early, but a good time to fertilize

Field work was underway in some parts of Manitoba late last week as farmers began applying fertilizer applications during one of the earliest springs people can remember. But while extension officials urged farmers to take full advantage of the province’s exemption to rules limiting fertilizer applications until after April 10, they cautioned against putting seed


Richardson International’s rise to share top grain spot

The pending multibillion-dollar sale of Viterra demonstrates the value of patient capital and private ownership, says Richardson International president Curt Vossen. Last week publicly traded Viterra, Canada’s largest grain company, announced it was selling to the world’s No. 1 diversified commodities trader, Swiss-based Glencore, for $16.1 billion. But in a move believed aimed at getting

The cross with ancient species is considered a first

Reuters / Scientists in Australia have crossed a popular, commercial variety of wheat with an ancient species, producing a hardy, high-yielding plant that is tolerant of salty soil. The researchers, who published their work March 12 in the journal Nature Biotechnology, hope the new strain will help address food shortages in arid and semi-arid places


Briefs March 29, 2012

Indonesian consumers shun rice in favour of noodles jakarta / reuters / Rising incomes are prompting Asian consumers to switch to noodles and away from rice. It’s expected wheat demand in Indonesia, already Asia’s top wheat importer, will rise by at least five per cent a year over the next decade. The country imported six

Canada’s Harper says Viterra bid not “primarily” foreign

reuters / Canadian Prime Minister Stephen Harper said March 25 that the structure of Glencore’s $6.1-billion deal to buy No. 1 Canadian grain handler Viterra means it should not necessarily be seen as a full foreign takeover. Harper’s comments come as the Canadian government and regulators begin reviewing the offer by Swiss-based Glencore, already the



Big payday for Schmidt if Viterra sells

Viterra CEO Mayo Schmidt will earn millions of dollars if Glencore buys Viterra, according to the Globe and Mail. Citing security filings the Globe says Mayo Schmidt will be paid an estimated $37.5 million through “a combination of the value of his stock holdings and of the fully vested value of his outstanding options and