Green Plains Renewable Energy Inc. (GPRE) Chief Executive Todd Becker said that the Renewable Fuel Standard 2 released by the EPA Wednesday "validated the fact that we can use first, second and third generation ethanol to reduce our dependence on foreign oil." »
The head of Bunge Ltd. (BG) on Thursday said current sugar prices are unsustainable as he defended the agribusiness group's push into the sector. Global sugar prices are near 30-year highs and that's raised concern among analysts Bunge and others may be overpaying for sugar assets, notably in Brazil. »
Argentina's oil and gas production fell in 2009 compared with the previous year, marking the third consecutive decline since 2006. Argentina produced 36.15 million cubic meters of oil and 48.41 million cubic meters of gas, according to the latest data published by the Energy Secretariat. »
Argentina's bumper soy crop got a boost from showers across much of the farm belt this week, leading to expectations of higher yields, the Buenos Aires Cereals Exchange said in its weekly crop report Thursday. Argentina's 2009-10 soy production is expected to reach a record 52 million metric tons, »
CBOT corn is weaker in early trade, making another new four-month low and briefly dipping below key support at $3.50. The market suffered a very bearish close Wednesday, and lacks either the fundamental or outside market support to lift it out of the doldrums, traders say. »
The weather phenomenon known as El Nino is expected to continue until at least spring in the Northern Hemisphere, contributing to above-normal temperatures in the northern tier states, excluding New England, the National Oceanic and Atmospheric Administration said Thursday. »
ICE arabica coffee futures are sinking under the weight cast by the rising dollar on commodities prices, an analyst says. March coffee is down 145 points at $1.3155 a pound, off the $1.3120 low. "There is no new fundamental news besides the dollar," says Marcio Bernardo, coffee »
Gold futures fell more than $40 Thursday to their lowest level in three months as investors move out of perceived riskier assets on concerns about euro-zone debt and weaker-than-expected U.S. weekly jobless figures. In recent trading, April gold, the most active contract, was down $35.10, or 3.2%, at »
U.S. wheat futures are crawling higher after stumbling at the opening. The markets are oversold and trying to recover from a sharp slide Wednesday, an analyst says. Technical charts look bearish, and large supplies continue to hang over the markets, he says. »
ICE sugar remains under pressure on technical factors. The market continues its recent slide after closing below a one-month trendline on Wednesday, says Jimmy Tintle, analyst with Transworld Futures. March sugar is down 39 points to 28.19 »
Egypt's state-owned wheat buyer, the General Authority for Supply Commodities, or GASC, said Wednesday it bought 240,000 metric tons of Russian, Kazakhstan and French wheat on a free-on-board basis. Of the total, GASC bought 60,000 tons of Russian wheat from Aston, 60,000 tons of »
Spot gold dropped sharply and is trading near important support at $1,070 a troy ounce after slipping below that briefly to a three month low. A combination of sell stops triggered along with a stronger dollar caused the drop, a »
Bearish reactions to the latest economic data on jobless claims and lower crude oil prices took a bite out of energy stocks on Thursday, even as sector leader Royal Dutch Shell swung to a profit. U.S. initial jobless claims rose 8,000 to 480,000, more than expected, while U.S. »
ICE cocoa remains on the defensive. "Everything is weaker on a stronger dollar," said Jimmy Tintle, analyst with Transworld Futures, commenting that the commodity has fallen with gold, silver, crude oil and others. »
("WORLD FOREX: Euro Drops As Greek Fiscal Concerns Fester," at 10:11 a.m. EST, implied the euro has not yet broken below $1.38, in the second paragraph. The correct version follows:) »
LSN - INDIA: Not much meaningful precipitation fell in India’s main winter grain and oilseed production region Wednesday. High temperatures were in the 60s and 70s Fahrenheit north, 70s and 80s in central areas and 80s to lower 90s in the south. »
LSN - CHINA: Warmer than average temperatures have been occurring for more than a week now across central and southern China and this trend continued Wednesday. Highs between the Yellow and Yangtze Rivers were in the 40s and lower 50s with lows in the »
LSN - BRAZIL: Favorable crop weather will continue in Brazil over the next ten days to two weeks. All areas will get rain at one time or another and sufficient amounts will occur to support crop development. »
LSN - MARKET WEATHER MENTALITY (corn and soybeans): South America weather continues to look very good. Relief from dryness in La Pampa and southwestern Buenos Aires has been rather restricted and additional rain is needed in those areas. All other Argentina »
