Agriculture
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SIOUX FALLS, S.D.-- Below normal temperatures have limited the ability for snow to melt and kept soil temperatures at or below freezing across South Dakota. The U.S. Department of Agriculture says in its weekly crop report that farmers and ranchers had 1.7 days suitable for fieldwork. Activities included applying fertilizer to wheat, alfalfa and pastures.
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Corn futures are down to 9-month lows today; farmers plan to plant on 97 million acres this year. Virginia McGathey, McGathey Commodities president, discusses the impact this will have on the commodity.
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CHICAGO, April 1- U.S. agribusiness giant Cargill Inc on Monday said it named Marcel Smits, the former chief executive of packaged food maker Sara Lee Corp, as its chief financial officer effective April 15.
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IOWA CITY, Iowa-- Federal regulators have issued a permit to allow construction of a $1.3 billion fertilizer plant in Iowa after a deal was reached to require workers to monitor the site to ensure it is not an Indian burial ground, an official told The Associated Press on Monday.
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*Agrium says practice is common. April 1- Hedge fund Jana Partners accused Canadian fertilizer company Agrium Inc on Monday of improperly paying brokers and investment advisers for shareholder votes as Jana's battle to shake up Agrium's board enters its final week.
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WICHITA, Kan.-- Kansas farmers are planting fewer acres of thirsty crops, such as corn and soybeans, this spring and more acres of drought-tolerant crops like sorghum, Kansas Agricultural Statistics Service reported Thursday.
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WASHINGTON, March 28- U.S. corn inventories were larger than expected as of March 1, easing a near-term supply crunch ahead of a potentially record-setting crop that will be planted in coming weeks, the government said on Thursday.
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Think beef is expensive now? A cow just sold for a record $170,000 at auction in Syracuse, New York.
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NEW YORK/ LONDON, March 28- Raw sugar futures on ICE flirted with a 2-1/ 2- year low on Thursday as the market closed the first quarter down about 9 percent, marking its fourth straight weak quarter as ample Brazilian supplies kept pressure on prices.
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U.S. corn and soybean futures plunged on Thursday, on track for their biggest daily loss in months, after a government crop report shocked professional traders.
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LONDON, March 28- Raw sugar and arabica coffee futures on ICE were little changed on Thursday, under pressure from huge supply from top producer Brazil, while higher cocoa prices were expected to trigger producer selling. "The bears would want to try to crack below the 2-1/ 2- year low," said Pierre Sebag of consultancy Sugar K Ltd..
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*Coming up: USDA crop report at 11 a.m. CDT ( 1600 GMT. Corn for May delivery eased 8 cents to $7.27- 1/ 4 per bushel as of 10:13 a.m. CDT at the Chicago Board of Trade.
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*Third-quarter EPS 81 cents vs 64 cents year earlier. Shares of the Plymouth, Minnesota- based company, which has a market value of about $25 billion, rose 1.1 percent to $59.30 in early trading on the New York Stock Exchange.
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*Another cold snap expected in the Plains wheat next week. CHICAGO, March 28- A cold snap early on Thursday may have harmed some of the soft red winter wheat crop in the Carolinas and Virginia while another round of cold air is posing a threat to the Plains hard red winter wheat crop next week, an agricultural meteorologist said.
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MUMBAI, March 28- India is likely to import 1.4 million tonnes of sugar in the year to September 30, as a sharp drop in overseas prices spurs local mills to import the sweetener despite a surplus at home, an official of commodities trader ED&F Man said on Thursday.
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*Third-quarter EPS 81 cents vs 64 cents year earlier. March 28- U.S. fertilizer producer Mosaic Co reported a 26 percent rise in third-quarter profit, driven by higher potash and phosphate volumes and said it wants to buy back shares later this year, lifting its stock 1.3 percent on Thursday.
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*Corn falls daily 40- cent price limit. *USDA pegs corn, soy stocks larger than analyst estimates. Benchmark Chicago Board of Trade corn futures for May delivery fell their daily 40- cent trading limit to $6.95- 1/ 4 per bushel while CBOT May wheat shed 5.3 percent, or 38-3/ 4 cents, to $6.98 per bushel as of 11:29 a.m. CDT.
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LONDON, March 27- British scientists have developed a new vaccine against foot-and-mouth disease that is safer and easier to manufacture, an advance they believe should greatly increase production capacity and reduce costs. "It spreads like wild fire," said David Stuart, a professor of biology at the University of Oxford, who led the research.
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March 28- Thailand intervenes in the rice market each year to support millions of farmers, but the scheme launched by the government in October 2011 guaranteed prices so generous that they have caused huge stockpiles, hit exports and strained finances.
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*Thailand may have to sell 500,000 T rice on world markets at a loss. SUPHAN BURI, Thailand, March 28- Thailand is set to sell half-a-million tonnes of rice on world markets at a loss, as it scrambles to offload a record stockpile deteriorating in quality in warehouses filled with grain bought under a government scheme.