Corn for delivery in September dropped 3.75 cents, or 1 percent, to $3.68 a bushel on Tuesday. "The weather conditions are beyond good," said Sterling Smith, a commodities analyst at Citigroup. Soybeans for the same month dropped 13.75 cents, or 1.3 percent, to $10.58 a bushel.» Read More
Investors are buying up America's farmland through real estate trusts like Farmland Partners to cash in on rising food prices. NYT reports.
July 22- Chemicals maker DuPont forecast lower-than-expected operating earnings for the current quarter and warned of a loss in its agriculture unit as weak farm sales constrain both profit and revenue. DuPont has made a big push into agriculture, energy and specialty materials to insulate itself from more volatile businesses.
SPRINGFIELD, Ill.— The U.S. Department of Agriculture says Illinois' corn crop is maturing faster than normal and faring well. The USDA says in its weekly crop-status update that 81 percent of the state's corn is rated as either good or excellent. Eighty-two percent of the crop is silking, 12 percentage points better than the average of the previous five years.
Over 80 percent of California is now in extreme or exceptional drought. CNBC's Jane Wells reports UC Davis predicts this will cost the state $2.2 billion.
CHICAGO— Grain futures were lower Monday in early trading on the Chicago Board of Trade. Wheat for Sept delivery was unchanged at $5.3225 a bushel; Sept corn was 7.25 cents lower at $3.64 a bushel; Dec oats were unchanged at $3.2525 a bushel; while Nov soybeans was 7.50 cents lower at $10.7775 a bushel.
MUMBAI/ BANGKOK, July 21- Thailand is set to reclaim its status as the world's top rice exporter as weak monsoon rains curb India's crop, helping the Southeast Asian country's new military government offload bulging stockpiles.
SAO PAULO, July 18- Brazilian beef exports to China will increase by more than $1 billion next year following the decision by the world's second-largest economy to lift an embargo on Brazilian beef, the president of an industry group said on Friday.
SAO PAULO, July 18- Low corn prices in Brazil following a bumper crop are worrying farmers but providing favorable margins for an incipient corn-ethanol industry, said the manager of Usimat, the first Brazilian mill to produce the corn-based biofuel.
CHICAGO, July 18- U.S. wheat futures fell 3.4 percent on Friday, erasing gains posted a day earlier following the downing of a Malaysian commercial airliner over eastern Ukraine, while Chicago Board of Trade corn futures also declined and soybeans were mostly lower.
Enter Gaga, a New Yorker, who shot a public service announcement for California's Save Our Water.
SAO PAULO, July 18- Brazil's government approved the use of pesticides with the active ingredient cyantraniliprole to fight the coffee borer beetle, a note published in the country's Official Gazette said on Friday.
The drought in California will cost $2.2 billion in 2014, says a new report. Dwindling ground water is keeping food prices low, but not for long.
CHICAGO— Grain futures were lower Friday on the Chicago Board of Trade. Wheat for Sept delivery was 18.50 cents lower at $5.3225 a bushel; Sept corn was 8.25 cents lower at 3.7125 a bushel; Dec oats were 7 cents lower at $3.2525 a bushel; while Nov soybeans were 8.75 cents lower at $10.8525 a bushel.
SEOUL, July 18- South Korea will scrap caps on rice imports from 2015, potentially opening up the politically sensitive market to more imports from countries such as the United States and China, in a move that has been fiercely resisted by many farmers. Seoul said steep tariffs would be used to protect its farmers.
*South Korea has long been expected to switch to tariffs. SEOUL, July 18- South Korea will scrap caps on rice imports from the start of 2015, instead managing shipments into the country using a system of steep tariffs, the government said on Friday.
POWRANNA, Australia, July 18- Thousands of Black Angus bulls snort steam gently into the frigid early morning air at Tasmania's largest cattle feedlot as they jostle for space at a long grain trough.
*Arable land from China to Sub-Saharan Africa already lost. "We know far more about the amount of oil there is globally and how long those stocks will last than we know about how much soil there is," said John Crawford, Director of the Sustainable Systems Programme in Rothamsted Research in England.
*South Korea long been expected to switch to tariffs. SEOUL, July 17- South Korea will on Friday announce plans to scrap caps on rice imports from the start of 2015, instead managing shipments into the country using a system of steep tariffs, domestic media outlets including the Yonhap news agency reported on Thursday.
Corn and soybean futures ended higher Wednesday, reversing course after several weeks of losses. Corn for December delivery, the most actively traded contract, rose 5 cents, or 1.3 percent, to $3.87 a bushel. Platinum for October delivery added 70 cents to $1,485.70 an ounce and palladium for September delivery rose $8.20 to $876.75 an ounce.
There's no beer without hops, and with prices for the critical ingredient rising, craft brewers are paying attention.