Agriculture
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*Coffee downside limited during Brazil frost season. LONDON, May 17- ICE raw sugar edged higher 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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LONDON, May 8- Raw sugar futures on ICE were slightly lower on Wednesday as the cane crush in top grower Brazil gathered pace, while arabica coffee edged up and cocoa was little changed. July raw sugar futures were off 0.09 cent or 0.5 percent at 17.55 cents a lb at 1255 GMT with rising production in Brazil helping to keep the market on the defensive.
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*China's May-July soybean imports seen at record. BEIJING/ SINGAPORE, May 8- China, the world's fourth-largest soy producer and biggest buyer, expects record bean imports in May-July even as a latest bird flu outbreak cuts demand for the feed crop, pressuring crush margins and potentially triggering cargo cancellations.
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SINGAPORE, May 8- Singapore palm oil firm Wilmar International Ltd reported a 23 percent rise in first-quarter net profit on Wednesday, largely due to a recovery in its oilseeds and grains segment.
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said on Tuesday it began building a $100 million cocoa processing facility in Indonesia to meet growing demand in Asia for chocolate and other cocoa products. The facility under construction is in Gresik, in the East-Java region of Indonesia.
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Outdoor chefs are in for an unhappy surprise as the grilling season approaches: The price of beef is pushing up the cost of a backyard barbecue.
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WASHINGTON, May 7- Congress will begin writing a new, $500 billion U.S. farm law next week, the head of the Senate Agriculture Committee said on Tuesday, even as calls mounted for deeper cuts in farm subsidies and food stamp spending. The Senate panel has scheduled a bill-drafting session for May 14.
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Billions of honeybees keep dying each year. The demise of the bees is raising concerns about the cost to the nation's food supply and the sustainability of the beekeeping industry.
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LONDON, May 7- Britain's weak economy has taken its toll on the nation's poshest greengrocer with Prince Charles forced to close his organic vegetable store, citing falling trade and rising prices.
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SACRAMENTO, Calif.-- California's Senate approved legislation Monday that changes the ground rules for negotiations between farmers and fieldworkers by giving state regulators more authority to act.
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WICHITA, Kan.-- Cool temperatures and wet fields are stalling corn planting in Kansas and slowing development of the state's winter wheat crop. Kansas Agricultural Statistics Service reported Monday that just 17 percent of the planned corn is now in the ground. That is two weeks behind average.
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*Producers welcome price but wanted more. BRASILIA, May 7- Brazil, the world's top coffee producer, raised its benchmark price for arabica coffee 17 percent on Tuesday to 307 reais per 60- kg bag, a decision traders see as a sign of imminent government intervention to boost prices.
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WASHINGTON, May 7- Congress will begin writing the new, $500 billion U.S. farm law next week, the head of the Senate Agriculture Committee said on Tuesday, amid calls for deeper cuts in farm subsidies and food stamp spending. The Senate panel scheduled a bill-drafting session for May 14.
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*Brazil government announces benchmark price. NEW YORK/ LONDON, May 7- Arabica coffee futures on ICE were firm on Tuesday, rising from a recent three-year low on investor short-covering, though top producer Brazil's large upcoming harvest and an overhang of carryover stocks are expected to keep prices under pressure.
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NEW DELHI, May 7- India may soon pass a new law to give millions more people cheap food, fulfilling an election promise of the ruling Congress party that could cost about $23 billion a year and take a third of annual grain production. The ambitious bill, a priority for Congress President Sonia Gandhi, will raise India's annual food subsidy spending by 45 percent.
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*Wheat weakens on spillover from corn drop. The trade has ideas that we are actually going to get the crops planted, "said Bill Gentry, a broker with Risk Management Commodities." Chicago Board of Trade July corn futures closed down 24-3/ 4 cents at $6.36- 1/ 2 a bushel, falling through key technical support at the 30- day moving average.
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May 6- Tyson Foods Inc reported weaker-than-expected quarterly profit as shoppers and restaurants switched to cheaper chicken from beef, and the company cut its full-year sales forecast, sending shares down more than 5 percent. Tyson stock was off 5.2 percent, or $1.29, to $23.64, while rival Smithfield Foods Inc fell 0.8 percent, or 21 cents, to $25.41.
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Tyson Foods reported a weaker-than-expected quarterly profit as shoppers and restaurants switched to cheaper chicken from beef, and the company cut its full-year sales forecast.
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*Quarterly adjusted profit $0.36/ shr vs Street view $0.45/ shr. *Sales rise to $8.42 bln vs analysts' view of $8.58 bln. May 6- Tyson Foods Inc, the largest U.S. meat processor, reported a weaker-than-expected quarterly profit as shoppers and restaurants switched to cheaper chicken from beef, and the company cut its full-year sales forecast.
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CHICAGO, May 6- Rainfall in the western and southern Midwest this week will slow corn plantings there while drier weather in the north should help boost seedings that have fallen well behind average planting pace, an agricultural meteorologist said on Monday.
