Agriculture
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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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*Coffee downside limited during Brazil frost season. LONDON, May 17- ICE raw sugar rose on Friday with the market finally finding support after losing ground for five consecutive sessions although the rapid pace of the cane harvest in top exporter Brazil kept the market on the defensive.
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William Happer, Princeton University professor, argues that rising carbon dioxide emissions are weakly linked to global warming and could actually increase agricultural productivity.
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WASHINGTON, May 16- Immigration reform legislation should allow unlimited hiring of foreigners to work on U.S. farms to avert damaging labor shortages at harvest, a group representing large farmers told a U.S. House of Representatives panel on Thursday.
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Wheat fell on technical selling and seasonal pressure as the U.S. harvest neared, with the Chicago Board of Trade July contract hitting a six-week low.
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Wheat fell on technical selling and seasonal pressure as the U.S. harvest neared, with the Chicago Board of Trade July contract hitting a six-week low.
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The food supply is under siege from a blitz of man-made hazards, from arsenic-laced chicken to dying bee colonies, and some favorites may someday vanish from the plate.
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May 16- Areas of severe drought continue to shrink across many key agricultural areas of the central United States, though it may be too late for some wheat farmers who are preparing for harvest. Nebraska and Texas, also key wheat producing states, also saw drought area shrink.
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Ron Kind and Tom Petri put forward a crop insurance reform plan Wednesday that they say will save the federal government $11 billion over the next 10 years. Kind, a Democrat, and Petri, a Republican, announced their plan as work continued in Congress on a new farm bill.
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It would take a perfect storm, but there are worries the current economic boom for farmers could turn into a bust. The issue is how much debt farmers take on.
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ENID, Okla.-- Koch Industries Inc. on Wednesday announced plans to build a urea plant at its Koch Nitrogen plant in Enid, Oklahoma and to renovate the existing facility.
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WASHINGTON, May 15- A Republican-controlled panel in the U.S. House of Representatives on Wednesday approved the biggest cuts in food stamps for the poor in a generation and a potentially expensive expansion of federally subsidized crop insurance. The House Agriculture Committee approved a five-year, $500 billion farm bill on a 36-10 vote.
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WASHINGTON, May 15- The U.S. House Agriculture Committee approved a five-year, $500 billion farm bill on Wednesday containing the biggest cuts in food stamp funding in a generation and a potentially expensive expansion of federally subsidized crop insurance. The Senate has agreed to begin debate on its version on Monday.
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"We take a long-term view that demand for potash will resume," EuroChem CFO Andrey Ilyin said on the sidelines of the BMO Farm to Market conference in New York, after giving a presentation. "
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*Coffee slides about 2.6 pct on better Brazil weather. NEW YORK/ LONDON, May 15- Benchmark raw sugar futures on ICE broke below 17 cents a lb on Wednesday to lows unseen in nearly three years and coffee slid about 2.6 percent in late New York trade, as both markets were pressured by improving weather in Brazil and a strong dollar.
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*Corn from Brazil, Argentina seen going north until August. BUENOS AIRES, May 15- A record 2 million tonnes of South American corn is being sent to the United States this season to compensate for last year's weak harvest, industry sources based in Buenos Aires have told Reuters.
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*Wheat falls below $7 a bushel to a two-week low. CHICAGO, May 15- Wheat futures on the Chicago Board of Trade fell more than 2 percent to a two-week low on Wednesday in reaction to technical selling, a stronger U.S. dollar and lackluster exports of U.S. grain, traders said. July soybeans fell 3-3/ 4 cents at $14.11 a bushel and July corn was down 1/ 4 cent at $6.52- 1/ 4 a bushel.
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CHICAGO, May 15- Wheat futures on the Chicago Board of Trade fell more than 1 percent on Wednesday on lackluster export demand for U.S. grain, a stronger U.S. dollar and technical selling, traders said. At the CBOT as of 10:25 a.m. CDT, July wheat was down 8-1/ 2 cents at $7.02- 1/ 4 per bushel.
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*Corn planting pace seen improving. *Corn production prospects seen threatened. "Today will be the best day," said Andy Karst, meteorologist for World Weather Inc. "Then showers develop tonight, with scattered showers into the weekend."
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LONDON, May 15- Benchmark raw sugar futures on ICE broke below 17 cents a lb on Wednesday for the first time in nearly three years weighed by the rapid pace of production in top grower Brazil and the strength of the dollar.
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*Black Sea expected to remain among the cheapest suppliers. *USDA's Black Sea crop estimates may prove too optimistic. While Russia and Ukraine are expected to store some grain, analysts said they would remain one of the world's cheap suppliers, typically attracting interest from price-sensitive buyers in north Africa and the Middle East.