TOP STORIES:
WSJ: MF Global Havoc Felt On The Farm
The havoc wreaked by MF Global's bankruptcy filing has been felt not just by
Wall Street investors and traders, but also by wheat and corn growers, cattle
ranchers and pig farmers. Dotting the farm belt, many who used the commodities
market to protect against price swings are finding their money locked up and
their hedges unwound due to the firm's downfall.
StatsCan Confirms Larger Canadian Canola, Wheat Crops
WINNIPEG (Dow Jones)--The upward nudge in the crop-production estimates
released by Statistics Canada on Dec. 6 for canola and all wheat grown in Canada
during the 2011-12 (August-July) crop year was a bit bigger than expected while
the forecast for oats and barley suggested a tight supply situation.
Yara Says High Grain Prices Will Boost Sales
Norwegian fertilizer company Yara International ASA (YAR.OS) Tuesday said
farmers hoping to take advantage of currently high grain prices should boost
demand and lift sales of its own products and those from its joint-ventures by 8
million tons by 2016.
STORIES OF INTEREST:
Ritz: Marketing Freedom For West Canada Grain Farmers On Horizon
WINNIPEG, Manitoba (Dow Jones)--Canada's Agriculture Minister Gerry Ritz
appeared before a Senate Committee Tuesday to reinforce the importance of
passing the Marketing Freedom for Grain Farmers Act before year's end.
USDA Seeks To Expand Company Self-Approval For Meat Labeling
WASHINGTON (Dow Jones)--The U.S. Department of Agriculture is looking to cut
its workload and reduce the time it takes for some food products to hit
supermarket shelves by allowing producers to forego government label approval on
more types of meat products.
THE MARKETS:
US GRAIN AND SOY REVIEW: Corn Rebounds Amid Lack Of Farmer Sales
CHICAGO (Dow Jones)--U.S. grain and soybean futures ended higher Tuesday, as a
lack of farmer selling helped corn rebound from multi-month lows.
US CASH GRAIN: Corn Basis Levels Firm Amid Lack Of Farmer Sales
CHICAGO (Dow Jones)--A lack of export demand and stumbling futures prices have
yet to prompt panic among corn farmers, analysts said.
US LIVESTOCK REVIEW: Cattle Futures Extend Losses; Hogs Rebound
CHICAGO (Dow Jones)--U.S. live cattle futures posted modest losses on Tuesday,
extending a sharp selloff as investors were ever more suspicious that prices are
primed to fall.
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