The world’s largest corn company expects prices to head higher by next crop year. Monsanto says global oversupply of the crop has temporarily pressured prices lower, but that situation will be rectified by continued robust demand. “In fact, the world is consuming the current oversupply at a record pace with demand for corn growing by […] Read more
Sean Pratt
Stories by Sean Pratt
Legumex stocks
Shareholders of Winnipeg-based Legumex Walker will get less than originally anticipated from the sale of its special crops division. The company said the net proceeds distributed to shareholders from the sale of the division to Scoular for $94 million is about $1.95 to $2.25 per share, down from an expected $2.50 to $2.75. Shares closed […] Read more
Loonie won’t fly
Farmers can count on a weak Canadian dollar continuing to offset low commodity prices, according to a senior bank economist. But a grain market analyst thinks the expected U.S. interest rate hike won’t materialize, which would lead to a stronger loonie. The recent rally of the loonie was an anomaly, said Shaun Osborne, chief foreign […] Read more
Legumex Walker division sale proceeds fall short
Shareholders of a Winnipeg-based special crops and oilseed processing firm will get less than originally anticipated from the sale of its special crops division. Legumex Walker said the net proceeds that will be distributed to shareholders from the sale of the division to Scoular for $94 million is estimated to be $1.95 to $2.25 per […] Read more
Lower fuel, rental costs revert shipping to bulk
MINNEAPOLIS, Minn. — Grain was moved only in bulk when Stephen Lofberg started in the grain shipping business more than 40 years ago. A portion of the business shifted to containers over the last 10 years because it was a cheaper way to get grain to overseas markets. “There was no way that the bulk […] Read more
Firm touts GM trait testing machine
MINNEAPOLIS, Minn. — A company that tests crop samples for the presence of genetically modified traits has developed a sophisticated test that can be used at the grain elevator. EnviroLogix has been manufacturing GM tests since 1999. The company uses two types of tests to determine if a GM trait exists in a grain sample […] Read more
Firm sees profits in non-GM soy
MINNEAPOLIS, Minn. — There is money to be made growing non-genetically modified crops, according to a company that sells them. SunOpta’s cost-revenue comparison shows that U.S. soybean growers would be better off growing non-GM varieties next year rather than conventional soybeans. That is because of the price premiums farmers receive for growing non-GM crops and […] Read more
New Panama Canal locks able to handle mega vessels
MINNEAPOLIS, Minn. — The new third set of locks on the Panama Canal will dramatically change grain trade flow, say logistics experts. “We’re getting very close to being done with the canal. It should be operational by April,” said Scott Sigman, transport and export infrastructure lead with the Illinois Soybean Association. The locks will be […] Read more
New oilseed harvested
MINNEAPOLIS, Minn. — Canola growers could soon be facing competition from a new type of oilseed. A California company will be harvesting its first commercial crop of pongamia next year, a leguminous tree species that produces oilseed pods. “The oilseeds have a very similar amino acid profile to soybeans,” said Naveen Sikka, chief executive officer […] Read more
GM debate often values vs. science
MINNEAPOLIS, Minn. — Coexistence remains an elusive dream in Oregon, where plenty of controversy has swirled around genetically modified crops. Governor John Kitzhaber convened a task force last year to frame the debate over genetic modification and help guide future policy decisions on the issue. Chris Schreiner, executive director of Oregon Tilth, was one of […] Read more
