Chicago | Reuters -- U.S. President Donald Trump is assuring a bumper year for farmers as the Nov. 3 election approaches, with record government subsidies projected to make up more than a third of farm income in 2020. The aid programs could be key to Trump's chances of success in swing states such as Wisconsin,[...]
How a major U.S. farm lender left a trail of defaults, lawsuits
Harrod, Ohio | Reuters -- After completing a credit review in a half-hour phone call, a BMO Harris Bank underwriter cleared US$12 million in loans for Ohio corn and soybean producer Greg Kruger in 2013. Kruger had initially asked for a $2 million loan to build a grain elevator. But the Chicago-based bank, one of[...]
Pulse weekly outlook: Ample supply drives down feed pulse prices
Prices for feed pulses have dropped over the last month as farmers have turned to the feed market as the only buyer, according to a trader. "Regular processors aren't buying as many low-grade lentils, so guys are tired of sitting on them. So you're starting to see them come to the feed market," said Jay[...]
U.S. grains: Corn tops one-month high on strong U.S. export sales
Chicago | Reuters -- U.S. corn futures touched their highest prices in more than a month on Thursday on strong export demand and as traders adjusted positions ahead of a crop report expected to show supplies tightened over the past year. Soybean futures also rose, extending a rebound from recent losses into a third consecutive[...]
First U.S. trader convicted of spoofing sentenced to jail
Chicago | Reuters -- A U.S. judge sentenced futures trader Michael Coscia to three years in prison on Wednesday, a lighter punishment than prosecutors had sought for the first person criminally convicted of the manipulative trading practice of spoofing. Coscia also was sentenced to two years of supervised release from jail, in a case that[...]
Railways step up service as Ottawa eyes tackling grain backlog
Winnipeg | Reuters -- Canada's two big railways are stepping up service to reduce a backlog of grain shipments that have delayed exports and pushed oat prices to record highs, but the Canadian government said it may still step in with new regulations. Record crops of wheat and canola, along with frigid weather, overwhelmed Canadian[...]
Grainworld: Durum export outlook positive for 2014-15
Winnipeg | CNS Canada -- Because of the large durum crop grown in Canada in 2013-14, the country needs to gain a higher percentage of global durum trade to alleviate some of the pressures of having huge supplies, the Wild Oats Grainworld conference was told here Monday. "And I don't think it's going to be[...]
Post to buy West Coast fruit/nut processor
Aiming to claim market share in the private-label food business, the maker of Shreddies, Grape-Nuts and Cranberry Almond Crunch cereals has bought a major B.C. processor of dried fruits, trail mixes and nut butters. St. Louis, Mo.-based Post Foods announced Monday it will buy Golden Boy Foods of Burnaby, B.C. for C$320 million, in a[...]
Prairie oat cash market strong with tight supply concerns
Cash prices for new- and old-crop oats in Western Canada are strong, underpinned by expectations that carryover stocks will be tight in 2012-13 and 2013-14. According to Prairie Ag Hotwire, values on Thursday for old crop delivered to the elevator in Western Canada were as high as $4.05 per bushel, while new-crop values ranged from[...]
U.S. corn, soy jump one per cent on planting snarls
Chicago Board of Trade (CBOT) corn and soybean futures jumped one per cent on Friday as persistent heavy rains delayed U.S. planting of both crops, threatening production prospects. "Nobody wants to be short due to the planting issue. There is concern now that not everything will get planted," said Roy Huckabay, analyst for Chicago-based trade[...]
A message from April Stewart, Country Guide's Associate Editor
