CHICAGO (Reuters) — Agribusiness Cargill Inc. on Wednesday said its chief executive officer will step down on Dec. 1 after six years on the job. CEO Gregory Page, 62, will be replaced by David MacLennan, Cargill’s president and chief operating officer, in a shuffle that is “the result of the company’s ongoing succession planning with […] Read more
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David MacLennan to replace outgoing Cargill CEO
Food price fears push EU lawmakers to put a lid on biofuels growth
STRASBOURG, France, Sept 11 (Reuters) — The European parliament has voted to limit the use of fuels made from food crops because of fears that biofuels can push up grain prices or damage the climate, further undermining the once booming industry. Lawmakers voting in Strasbourg on Wednesday set a ceiling on the use of such […] Read more
China demand, Mideast turmoil boost shipping costs
LONDON/SINGAPORE (Reuters) — While a glut of vessels is keeping shipping rates well below their pre-crisis peaks, the cost of shipping industrial commodities hit near two-year highs in recent days, helped by Chinese demand for iron ore and growing political risks. The shipping industry is now in the fifth year of a deep downturn after […] Read more
Ukraine could see record grain crop in 2013
KIEV (Reuters) — Ukraine’s 2013 grain harvest is likely to reach an all-time high of 56.06 million tonnes due to favourable weather which has increased yields of corn and wheat, analyst UkrAgroConsult said on Tuesday. The consultancy, which had expected a grain harvest of 53.8 million tonnes a month ago, increased its outlook for maize […] Read more
Uralkali has no plans to return to Belarus potash pact
MOSCOW (Reuters) — Russia’s Uralkali, the world’s largest potash miner by output, said on Tuesday it had no plans to return to a trade alliance with Belarus and dismissed speculation about changes to its shareholder structure. Uralkali, which missed analysts’ forecasts with a 53 percent fall in first-half profit, is at the centre of a […] Read more
ConAgra profit hurt by weak consumer foods business
(Reuters) — ConAgra Foods Inc. estimated first-quarter profit below analysts’ expectations due to weak sales at its consumer foods business, which includes Chef Boyardee canned pasta, Hunt’s sauces and Slim Jim beef jerky. ConAgra shares fell six percent to $31.56 in early trading on Tuesday on the New York Stock Exchange. The stock rose 14 […] Read more
CBOT December 2015 corn takes wild ride in overnight session
CHICAGO (Reuters) — The Chicago Board of Trade’s December 2015 corn futures contract gyrated wildly on Monday night, experiencing a 22-1/2-cent price swing in the first hour of the overnight session due to what traders said appeared to be an erroneous order entry. The activity highlights the volatility of the all-electronic overnight session, when volume […] Read more
Canola prices show strength
Canola futures prices were relatively strong Monday, rising 80 cents for the November contract and 60 cents for the January, even as all other major North American crop futures fell. But November canola couldn’t stay above $500 per tonne, closing at $499 after peaking at $505.60 earlier in the session. January futures closed at $506.50. […] Read more
Late heat wave in U.S. corn crop cuts frost loss risks
CHICAGO (Reuters) — Warm, humid, late-summer weather across the central United States is speeding the development of corn and soybeans, easing concerns about potential yield losses due to frost for this year’s late planted crop, agronomists say. About 10 percent the projected record corn crop was seen at risk last week based on USDA weekly […] Read more
Alberta appoints new deputy ag minister
Jason Krips will replace John Knapp as deputy minister of agriculture, effective Sept. 30. Krips is not an unfamiliar face to agriculture in Alberta. He was executive assistant to then agriculture minister Doug Horner from 2004-06 and was Horner’s executive assistant in the advanced education and technology ministry from 2006-08. Krips, a lawyer, worked with […] Read more
