Reading Time: 2 minutes Chicago | Reuters — Deere and Co., the world’s largest maker of farm equipment, will lay off more than 900 employees at plants in Iowa and Illinois in the latest round of job cuts spurred by a decline in grain prices that is hurting demand for agricultural machinery. The layoffs, which represent about three per […] Read more
Deere to cut over 900 U.S. workers as ag economy weakens
U.S. grains: Markets weaken under pressure from firming U.S. dollar
Reading Time: 2 minutes Chicago | Reuters — U.S. grain and soybean futures slipped on Thursday as the rising U.S. dollar made farm products less competitive on the global market. The U.S. is having a hard time competing for grain export business, with Ukraine and South America undercutting U.S. corn prices, said Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage […] Read more
Merck funds tests of lower Zilmax doses
Reading Time: 3 minutes Chicago | Reuters –– Merck and Co. is funding the testing of lower dosages of its controversial cattle growth drug Zilmax, in a move livestock experts say is crucial if the company is to resume sales of the product to the U.S. beef industry. Nearly 18 months after Merck pulled the drug from U.S. and […] Read more
Researchers identify new PEDv strain in Minnesota
Reading Time: 2 minutes Chicago | Reuters — U.S. researchers have identified a new strain of a hog disease that has wiped out millions of baby pigs, a sign the virus will keep mutating as producers work to contain it. A third strain of porcine epidemic diarrhea virus (PEDv) was detected in a Minnesota hog herd and found to […] Read more
U.S. grains: Wheat retreats from rally fuelled by Russia export worries
Reading Time: 2 minutes Chicago / Reuters – U.S. grain and soybean futures slumped on Wednesday, with wheat dropping by 4 per cent in a setback from a rally fuelled by concerns over Russian export restrictions. The market extended a retreat from gains last week amid talk that Russia, expected to be the world’s fourth-largest exporter this year, won’t impose grain export duties until Feb. […] Read more
U.S. grains: Corn reaches new five-month high, wheat advances
Reading Time: 2 minutes Chicago / Reuters – U.S. corn futures on Tuesday jumped to a new five-month high for the second consecutive session on increasing global demand and wheat advanced amid uncertainty about the impact of Russian export restrictions. Soybean futures also were firmer in thin volume before the Christmas holiday on Thursday. Nearby March corn futures hit a session high of […] Read more
U.S. grains: U.S. corn sets five-month high on rising export demand
Reading Time: 2 minutes U.S. corn futures on Monday touched a fresh five-month high on firm export demand, while wheat slumped on profit-taking and slow sales to foreign buyers. Soybeans also advanced on strong export sales in light trading volume ahead of the Christmas holiday, traders said. Corn futures finished near unchanged after the nearby contract rose to its highest level since July. […] Read more
CME Group imposes rare halt on wheat futures trading
Reading Time: < 1 minute Chicago | Reuters –– CME Group briefly halted electronic trading in U.S. wheat futures overnight on Thursday, after prices sank 1.6 per cent in one second as concerns about Russian export curbs roiled the market. The 10-second pause represented only the fourth time this year that the world’s largest futures exchange operator has interrupted trading […] Read more
China approves Viptera corn, two types of soybeans
Reading Time: 2 minutes Chicago | Reuters –– A top Chinese government official said the country has approved imports of genetically modified Agrisure Viptera corn and two varieties of biotech soybeans after years of review, U.S. Agriculture Secretary Tom Vilsack said Wednesday. Chinese Vice-Premier Wang Yang said imports of Viptera corn, known as MIR 162, had been approved by […] Read more
Syngenta sees China approving contentious GM corn soon
Reading Time: 2 minutes Chicago | Reuters — Syngenta expects to win Chinese government approval soon for imports of a type of genetically modified corn at the center of lawsuits over U.S. grain shipments rejected by Beijing, a company spokesman said Friday. Syngenta, one of the world’s largest seed companies, will make an announcement when it receives official documentation […] Read more