BRUSSELS, Feb 11 (Reuters) – European Union ministers hit deadlock on Tuesday on whether to let a new strain of genetically modified (GM) maize be grown on EU soil for human consumption, clearing the way for the bloc’s executive arm to approve the crop automatically. European Commission endorsement of insect-resistant Pioneer 1507, developed jointly by […] Read more
Markets — page 927
EU executive set to back new GM crop, member states divided
Dean Foods warns of quarterly loss as raw milk prices rise
Feb 11 (Reuters) – Dean Foods Co, the largest U.S. dairy processor, warned it could post a loss in the first quarter due to a surprise rise in the price of raw milk, sending its shares down as much as 10 percent in early trading. The company, which sells Meadow Gold and Dean’s milk, also […] Read more
EU governments split over new GMO grain approval
BRUSSELS, Feb 11 (Reuters) – European Union ministers were divided on Tuesday over whether to allow a new strain of genetically modified maize to be grown on EU soil, handing responsibility for the decision to the European Commission, the EU executive. Nineteen states opposed approval of the insect-resistant maize, known as Pioneer 1507, developed jointly […] Read more
Fertilizer maker Mosaic sees huge N. America transport snags
Feb 11 (Reuters) – U.S.-based fertilizer company Mosaic Co , which operates potash mines in western Canada and phosphate facilities in the United States, is facing unprecedented transportation backlogs in North America, Chief Executive Officer Jim Prokopanko said on Tuesday. Frigid temperatures and heavy snow have hampered railway movement of commodities, he said on a […] Read more
Fertilizer maker Mosaic profit plunges 79 percent
(Reuters) — U.S. fertilizer company Mosaic Co. reported a 79 percent plunge in quarterly profit on Tuesday as phosphate and potash prices fell. Last summer’s breakup of the Belarusian Potash Co. caused a sharp drop in the price of the crop nutrient potash and a slide in grain prices has also weighed down phosphate and […] Read more
Markets fret over weak response to USDA’s bullish corn news; canola closes lower
Canola futures fell Monday while spring wheat futures rose in reaction to the monthly U.S. Department of Agriculture supply and demand report. USDA trimmed its domestic and world corn ending stocks but that wasn’t enough to stop it slipping into the red during the Monday trading session after showing early strength. Corn closed lower and […] Read more
Mixed CME live cattle, hog futures settlements
By Theopolis Waters CHICAGO, Feb 10 (Reuters) – Chicago Mercantile Exchange live cattle futures finished mixed on Monday as investors bought the February contract and sold deferred months as they priced in last week’s cash returns, traders said. February live cattle closed up 0.300 cent per pound at 141.500 cents and April ended down 0.225 […] Read more
USDA cuts U.S. corn ending stocks, trims wheat carryout
By Ros Krasny WASHINGTON, Feb 10 (Reuters) – U.S. corn ending stocks for 2013-14 continue to tighten on strong export demand, the U.S. Department of Agricultural said on Monday, a potential bullish jolt to prices that helped Chicago corn futures rise to their highest levels in four months. U.S. wheat carryout is also lower on […] Read more
Farmers seen planting 11.26 mln acres of cotton in 2014
NEW YORK, Feb 8 (Reuters) – U.S. farmers will plant 11.26 million cotton acres in 2014, up 8 percent from the previous year, as cotton grows increasingly competitive against corn and soybeans, a survey of growers conducted by the National Cotton Council showed on Saturday. That total would mark the end of a trend over […] Read more
Icy Illinois River impedes barge traffic, little relief seen
CHICAGO, Feb 7 (Reuters) – Icy waters on the Illinois River brought barge traffic to a virtual halt this week, slowing transportation of grains and other raw materials to export terminals at the U.S. Gulf with no relief expected as forecasts call for more bitter cold weather in the coming days, officials said on Friday. […] Read more
