Agriculture
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How the agriculture business may perform this summer, with Brian Stutland of Stutland Volatility Group.
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How the agriculture business may perform this summer, with Brian Stutland of Stutland Volatility Group.
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*Cane crush in Brazil gathers pace. *Traders expect huge off-year arabicas crop in Brazil. NEW YORK/ LONDON, May 24- Arabica coffee futures on ICE extended losses to the lowest in more than three years on Friday, as computer-based traders continued to sell, while raw sugar inched higher following the previous session's turnaround up from the lowest since 2010..
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Lean ground beef is up 21 percent to $4.81 per pound, reports CNBC's Jane Wells. And it could turn more consumers to cheaper cuts of meat.
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*Cane crush in Brazil gathers pace. *Traders expect huge off-year arabicas crop in Brazil. LONDON, May 24- Arabica coffee futures touched new multi-year lows on Friday, and raw sugar steadied near a low the previous session, both under pressure from big harvests in top producer Brazil.
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*Corn edges down, up 1 percent for the week. AMSTERDAM/ SYDNEY, May 24- Chicago Board of Trade soybeans edged lower ahead of a long U.S. weekend, following six sessions of gains, but were still up for the week as tight old-crop stocks and strong demand supported prices.
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WHITE PLAINS, N.Y.-- Agribusiness and food company Bunge Ltd. said Thursday it is raising its quarterly dividend to 30 cents from 27 cents. The company's next dividend is payable Sept. 3 to shareholders of record on Aug. 20. Bunge also said it will pay a dividend of $1.22 on 4.875% cumulative convertible perpetual preference shares.
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SAO PAULO, May 23- Twenty thousand tonnes of Argentine corn arrived in Northeastern Brazil on Thursday, the state of Bahia said, a sign Brazil is purchasing corn from its southern neighbor even though it is expected to harvest its second consecutive record crop. Brazil has had trouble managing its food stocks due to insufficient storage silos and roads.
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*World turns toward South America for soy, corn. BUENOS AIRES, May 22- Scores of grains ships were delayed in and around Argentina on Wednesday due to a three-day-old strike by port workers that threatens to bog down exports at a time of heightened world demand for South American soy and corn, sources said.
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Thousands of insurance agents travel to the area to assist affected residents, reports CNBC's Jane Wells.
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Charles Schumer says the Muller Quaker Dairy plant will have a grand opening on June 3. The $206 million dollar plant is a joint venture of PepsiCo and Germany's Theo Muller company. The plant is just next door to a $20 million yogurt plant opened last October by Alpina Foods, based in Bogota, Colombia.
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NEW YORK-- Chinese greenhouse vegetable producer Le Gaga Holdings Ltd. has received an offer to take the company private from a group that includes its chairman and CEO. Le Gaga said that its board has created a special committee made up of three independent directors to evaluate the offer.
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CHICAGO, May 22- U.S. farmers should begin winding down corn plantings over the next week to 10 days despite occasional showers and storms that will cause temporary delays, an agricultural meteorologist said on Wednesday.
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*Corn, wheat prices set April lows as plantings surge. NEW YORK, May 21- Corn prices hit multi-week lows on Tuesday, which pulled wheat lower, after record U.S. corn plantings, while oil and metals markets slipped amid worries the Federal Reserve might cut back its stimulus for the American economy.
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*Hot weather last week stressed Kansas wheat. CHICAGO, May 21- Tornadoes, high winds, rain and hail that cut a swath across the midsection of the United States on Sunday and Monday did only minimal harm to the winter wheat crop in top producers Kansas and Oklahoma, agricultural experts said. I'm in Phillips County now, in northwest Kansas, and the crop looks terrible.
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LONDON, May 21- U.S. farmers are withdrawing unsustainable volumes of groundwater to irrigate their crops, resulting in an accelerating decline in aquifers across the central and western United States, according to a new report by the U.S. Geological Survey.
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*Corn plantings still lag five-year average pace. CHICAGO, May 21- Occasional rainfall over the next week to 10 days will slow seedings of the U.S. corn crop, which was planted at a record fast pace last week, an agricultural meteorologist said on Tuesday.
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WINNIPEG, Manitoba/ CHICAGO, May 21- The United States is poised to introduce stricter rules on the labeling of meat imports this week, a move that is likely to heat up a simmering trade dispute with Canada and Mexico.
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*Ghana wants to increase investment in cocoa sector. *Ghana has strong democratic institutions, oil wealth funds. Ghana is used to resource riches: it is already the world's number two cocoa producer and Africa's second-largest gold miner.
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WASHINGTON, May 20- The U.S. Senate should cut crop insurance subsidies, the most expensive part of the farm safety net, by $1 billion a year before it passes the new farm bill, the White House said on Monday. The House would make the biggest food stamp cuts in a generation, $20 billion, compared to $4 billion in the Senate.