Tag: corn

April 28, 2011 General Ag News and Notes Post a Comment

Corn closes ‘limit’ down

Mike McGinnis

CHICAGO, Illinois (Agriculture.com)–The CME Group corn market closed limit down on improved planting weather outlooks Thursday.

The July corn futures settled down the 30 cent ‘limit’ at $7.29 1/4. The contract traded around $7.24, synthetically. The July soybean contract closed 31 cents lower at $13.53 1/2. The July wheat futures closed 34 1/2 cents lower at $7.76. The July soybean meal futures settled $7.60 per short ton lower at $354.20. The July soyoil futures closed $1.48 lower at $56.93.

In the outside markets, the NYMEX crude oil is $0.10 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 36 points. Since 1980, silver hit a new record price of $50.

“As I said yesterday, with exact scenario today, we left technical gap areas below and the first one was $7.49,” one CME Group corn pit trader says. But, I believe it’s merely about healthy corrections. Otherwise, the market is still bullish long term.”
Tim Hannagan, PFGBest.com senior grain analyst, says corn, wheat and beans continue to remove the recent weather premium, as this last system is now over and there’s not another appreciable rain until next Thursday now. “This has the trade thinking some spring wheat and corn could be planted early next week in the upper Plains. But, even if planting occurs, heavy rains enter on May 6 & 7 and then again May 11 & 12, leaving us generally well behind on planting,” Hannagan says.

Rich Feltes, RJ O’Brien market analyst, says, weather concerns don’t stop after planting. “The market is still going to be hanging on the edge needing to know the crops will be getting timely precipitation in the absence of summer heat. For that matter, for the late planted areas, we will need later than normal frostings. And we won’t know that for months,” Feltes says.

Corn, Market Analysis, Agricultural Markets | Agriculture.com

April 14, 2011 General Ag News and Notes Post a Comment

Is Sugar Toxic?

On May 26, 2009, Robert Lustig gave a lecture called “Sugar: The Bitter Truth,” which was posted on YouTube the following July. Since then, it has been viewed well over 800,000 times, gaining new viewers at a rate of about 50,000 per month, fairly remarkable numbers for a 90-minute discussion of the nuances of fructose biochemistry and human physiology.

Lustig is a specialist on pediatric hormone disorders and the leading expert in childhood obesity at the University of California, San Francisco, School of Medicine, which is one of the best medical schools in the country. He published his first paper on childhood obesity a dozen years ago, and he has been treating patients and doing research on the disorder ever since.

The viral success of his lecture, though, has little to do with Lustig’s impressive credentials and far more with the persuasive case he makes that sugar is a “toxin” or a “poison,” terms he uses together 13 times through the course of the lecture, in addition to the five references to sugar as merely “evil.” And by “sugar,” Lustig means not only the white granulated stuff that we put in coffee and sprinkle on cereal — technically known as sucrose — but also high-fructose corn syrup, which has already become without Lustig’s help what he calls “the most demonized additive known to man.”

It doesn’t hurt Lustig’s cause that he is a compelling public speaker.

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April 14, 2011 General Ag News and Notes Post a Comment

Brazilian company JBS dominates world beef industry from farm to fork

The founder, who began by slaughtering one or two head a day in 1953, raises calves far in the countryside. Six of his children are in JBS’s management. And ranchers such as Edson Crochiquia, who is 69 but rounds up cattle on horseback near here, spare no detail to provide the company with healthy, 1,000-pound animals.

Even a decade ago, JBS was still mainly focused on selling in Brazil. But by acquiring American giants such as Swift and Pilgrim’s Pride, JBS grew from a $1 billion private company into a $40 billion behemoth that slaughters 90,000 head of cattle a day, employs 125,000 workers and exports to 150 countries.

JBS is now the world’s biggest provider of meat, its footprint felt by feedlots, packing plants and chicken processors from Argentina to Italy to the American Midwest.

In Brazil, it is not uncommon to find banks, steel mills and other companies that evolved from family businesses into global giants. But JBS stands out, using an alliance with Brazil’s development bank and an aggressive acquisition strategy to become a vital pillar of the country’s efforts to project its economic power abroad.

To Wesley Batista, JBS’s 40-year-old chief executive and the founder’s fourth child, the company is still run “a simple way,” using a management model without “a lot of layers, not a lot of fancy things, not a lot of time spent on PowerPoint presentations.”

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December 1, 2010 General Ag News and Notes Post a Comment

Ohio silo collapses, unleashing ‘sea of corn’

NORWALK, Ohio — An Ohio fire chief says a metal grain silo collapsed into a “sea of corn” up to 12 feet deep that pushed a nearby home off its foundation.

Chief Doug Coletta in Norwalk says no one was hurt in Tuesday’s collapse that spilled more than 100,000 bushels of corn.

He says corn that flowed like water knocked over a fire hydrant and created a “one-block mess” in the community about 50 miles southwest of Cleveland.

Neighbors described hearing an explosion, but Coletta says what they likely heard was the sound of the bin breaking apart.

The chief said Tuesday it was not clear what caused the silo to give way.

Afterward an attached but empty grain dryer, resembling a smaller bin, was leaning. Coletta said it would be dismantled.

Ohio silo collapses, unleashing ‘sea of corn’

November 11, 2010 General Ag News and Notes Post a Comment

In the autumn, a flower aficionado’s fancy turns to poppy seeds

In northern gardens, poppies are the languid wildlings of summer, the stuff of picnics in the meadow and memorable afternoons. They can be tricked into a great show in the Washington garden, where they explode on the scene in May, linger for two or three weeks collectively and then shrivel in the face of the accumulating heat.
They are part of an enormous late-spring bacchanalia that begins with clematis and peonies and embraces catmint, larkspur and the first of the roses and lavender. Even in this crowd, poppies seem outlanders from the north, and their show is all the more tasty for its sense of migration.

Perennial oriental poppies are outrageous in their size and markings, but if their bloom coincides with a precocious hot spell, as it usually does, the show is over before it begins. Annual poppies flower around the same time, but their smaller size is compensated by lots of buds, successively offered. Even in the heat, they have a tangible season.

Now is the moment to buy poppy seed. Getting it to sprout can be a little hit-or-miss, so poppy maniacs sow seed in November, after the fallen leaves have been cleared or mulched, and again in February. Keep the February seeds safely stored in the refrigerator over the winter and make a note on your iPoppy to sprinkle them around Valentine’s Day.

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October 12, 2010 General Ag News and Notes Post a Comment

Corn Prices Raise Worry Over Expensive Food

By WILLIAM NEUMAN

First it was heat and drought in Russia. Then it was heat and too much rain in parts of the American Corn Belt. Extreme weather this year has sent grain prices soaring, jolting commodities markets and setting off fears of tight supplies that could eventually hit consumers’ wallets.

In the latest market lurch, corn prices dropped in early October, then soared anew, in response to changing assessments by the federal government of grain supplies and coming harvests.

The sudden movements in commodities markets are expected to have little immediate effect on the prices of corn flakes and bread in the grocery store, although American consumers are likely to see some modest price increases for meat, poultry and dairy products.

But experts warn that the impact could be much greater if next year’s harvest disappoints and if 2011 grain harvests in the Southern Hemisphere also fall short of the current robust expectations.

“We can live with high commodity prices for a period without seeing much impact at the retail level, but if that persists for several months or a couple of years, then it eventually has to get passed on” to consumers, said Darrel Good, an emeritus professor of agricultural economics at the University of Illinois.

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