By Reuters
Deere CEO Samuel Allen. (AP/Deere)
Federal Reserve officials are correct to worry more about stimulating the U.S. economy than about inflationary price pressures bubbling in the fuel and food sectors, the chairman and chief executive of Deere & Co. said Tuesday.
In an interview, Samuel R. Allen said he worries about the strength of the U.S. recovery even though the farm equipment giant he leads is reaping the benefits of a global farming boom he expects to continue for years. Get the full story »
April 4 at 12:33 p.m.
Filed under:
Exchanges,
Food
By Dow Jones Newswires
U.S. corn futures matched their all-time high Monday on increased concerns federal forecasters will slash their supply outlook this week. Get the full story »
Feb. 1 at 9:50 a.m.
Filed under:
Earnings,
Energy,
Food,
Updated
By Reuters
U.S. agricultural processor and ethanol producer Archer Daniels Midland Co reported stronger-than-expected quarterly earnings on Tuesday as rising grain prices and robust global demand bolstered results, sending its shares up 6.3 percent in premarket trading.
For the fiscal second quarter ended Dec. 31, net profit was $732 million, or $1.14 per share, compared with $567 million, or 88 cents per share, a year earlier. Get the full story »
Nov. 5, 2010 at 6:07 p.m.
Filed under:
Agriculture/Farming,
Chicago executives,
Food
By Reuters
Bunge North America, a division of agribusiness giant Bunge Ltd., said it bought Indiana-based Morristown Grain Co Inc, which includes two grain elevators in Morristown and Rushville. Get the full story »
Nov. 2, 2010 at 12:38 p.m.
Filed under:
Agriculture/Farming,
Earnings
By Reuters
Archer Daniels Midland Co. the world’s largest corn processor and among the largest U.S. ethanol producers, reported weaker-than-expected quarterly earnings Tuesday, hampered by inventory charges, and its shares fell more than 7 percent.
For the first quarter ended Sept. 30, ADM reported a net profit of $345 million, or 54 cents per share, down from $496 million, or 77 cents per share, a year earlier. Get the full story »
Nov. 2, 2010 at 10:50 a.m.
Filed under:
Agriculture/Farming,
Food
By Reuters
Late soybean seeding in Brazil due to adverse planting weather will delay the harvest in the key soybean exporting country and bolster U.S. exports of the oilseed, the vice chairman of U.S. agricultural processor Archer Daniels Midland said on Tuesday. Get the full story »
Oct. 27, 2010 at 6:03 a.m.
Filed under:
Agriculture/Farming,
Food
By Associated Press
Americans love their beef, but with prices expected to remain high for the next few years and other options plentiful, their loyalities might be challenged.
Average retail prices of beef have climbed from $4.18 per pound in July 2009 to $4.44 per pound last July, a change largely due to a tight supply of cattle. Ranchers and feedlots have reduced supplies in response in large part due to rising prices of corn and soybeans fed to cattle, economists said. Get the full story »
Oct. 8, 2010 at 3:54 p.m.
Filed under:
Exchanges
By Reuters
Large speculators cut their record net long position in Chicago Board of Trade corn futures and options as a U.S. Agriculture Department report showing large stockpiles of U.S. corn spurred a sharp drop in prices. Get the full story »
Sep. 15, 2010 at 3:08 p.m.
Filed under:
Agriculture/Farming
By Associated Press
Corn prices have been on a nearly unchecked climb since late July and are approaching the psychological $5-a-bushel level. The price of corn for December delivery rose as high as $4.975 a bushel during trading Wednesday before falling back to settle at $4.9525 a bushel. Corn rices have jumped more than 25 percent since the end of July.
Aug. 30, 2010 at 11:54 a.m.
Filed under:
Crime,
Criminal charges,
Exchanges,
Fraud,
Investigations
By Wailin Wong
The U.S. Commodity Futures Trading Commission said Monday it has settled fraud and unauthorized trading charges against a Naperville floor trader at the Chicago Board of Trade whose activities generated a $4 million loss.
The CFTC order permanently bans John Lee Neuman from trading. He had registered with the CFTC as a floor broker from May 1993 until February 2008, and became a local in the CBOT corn options pit in September 1997. Get the full story »
July 9, 2010 at 4:44 p.m.
Filed under:
Agriculture/Farming,
Energy,
Food,
Trade
By Reuters
Exporters, livestock feeders and ethanol makers are going through the U.S. corn stockpile faster than farmers can grow the crops, the government said on Friday. Despite record crops in two of the past three years and another record within reach this year, the Agriculture Department estimated the corn carryover will shrink to the lowest level since 2006/07. Get the full story »
