schreef:
Cargill: Wheat Supplies Up From 2008; Trade Barriers A Threat
By Ian Berry
Published August 05, 2010
Cargill Inc. said Thursday declining wheat supplies due to an extreme drought in the former Soviet Union are "a regional issue" but that global supplies remain comfortable.
The global agribusiness giant, whose operations include grain sourcing, processing and transport, said wheat crops in countries such as Russia and Kazakhstan are significantly below expectations, which is affecting regional supplies.
"From a global perspective, however, the U.S. wheat crop has been strong and world wheat stocks are higher than they were during the wheat price spikes in 2008," the Minneapolis-based company said in a statement.
Chicago Board of Trade wheat futures prices soared in 2008 to all-time records above $13 per bushel due to climbing demand and crop failures world wide.
Export restrictions in the former Soviet Union helped fuel that price spike, analysts say, and Cargill said Thursday trade barriers "exacerbated supply problems."
"Such trade barriers further distort wheat markets by making it harder for supplies to move from areas of surplus to areas of deficit, and by preventing price signals from reaching wheat farmers," said Cargill, which is the largest private company in the U.S.
Russia said Thursday it would ban grain exports from Aug. 15 until the end of the year.
Cargill didn't say what effect the situation would have on its business. Bunge Ltd. (BG), which also transports grain globally and processes other feed products such as soymeal, said last week the surging wheat market could have a "positive impact" on its grain business.
Another rival, Archer Daniels Midland Co. (ADM), said during its quarterly conference call Tuesday that the surging wheat prices could potentially boost U.S. corn exports.
www.foxbusiness.com/markets/2010/08/0...Minnesota corn, soybeans and wheat are in top form
Star Tribune
Last update: August 3, 2010 - 9:02 PM
For Minnesota's farmers, it doesn't get much better than this.
The U.S. Department of Agriculture reported Monday that the state's corn, soybean and wheat crops are in the best shape of any state in the nation.
And if conditions hold, the harvest of all three crops could reach an all-time record yield.
Near-perfect weather -- a combination of rain and warmth that both have been above average -- contributed to the bonanza.
www.startribune.com/business/99836354...