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Cargill will Idle Raleigh, NC Soybean Processing Facility

February 04, 2014

RALEIGH, N.C. – Jan 30, 2014 – Cargill said it will idle soybean processing activities at its facility in Raleigh later this spring. Cargill will continue to operate the Raleigh elevator as a viable market for soybeans, purchasing soybeans from area producers and elevator customers.

“This is a difficult decision because we have an excellent team of employees in Raleigh, where we have been in business since 1985,” said Don Camden, a regional manager for Cargill’s soybean processing business. “The North Carolina market is very important to us, and we look forward to serving both crop producers and livestock industry customers through our remaining activities at Raleigh as well as through...

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Scientists Fear Long California Drought

February 04, 2014

California's drought is being billed as the driest period in the state's recorded rainfall history. But scientists who study the West's long-term climate patterns say the state has been parched for much longer stretches before that 163-year period began.

And they worry that the "megadroughts" typical of California's early history could return.

Through studies of tree rings, sediment and other natural evidence, researchers have documented multiple droughts in California that lasted 10 or 20 years during the past 1,000 years "” compared to the mere three-year duration of this dry spell. The two most severe megadroughts make the Dust Bowl of the 1930s look tame: a 240-year-long drought...

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Farm Bill Keeps Country of Origin Labeling Rules

February 04, 2014

SIOUX FALLS, S.D. (AP) — Meat and livestock groups upset that Congress opted in the new farm bill not to back off from mandatory country of origin labeling requirements are worried the issue could start a trade war with Canada and Mexico.

Previous labeling rules required only the country of origin to be noted, such as "Product of U.S." or "Product of U.S. and Canada." New rules that took effect last year require that labels for steaks, ribs and other cuts of meat include clear information about where the animals were born, raised and slaughtered. Labels must specify, for example, "Born in Mexico, raised and slaughtered in the United States."

"That's a really big label on a package of...

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CGB Enterprises Acquiring W.B. Johnston Grain

February 04, 2014 | Grain

Feb. 03--ENID, Ok -- The oldest and largest privately owned grain company in the state, W.B. Johnston Grain, is going to be sold to a Louisiana company.

W.B. Johnston Grain entered into a letter of intent to sell its grain company and related business to CGB Enterprises Inc., a grain and transport business based in Covington, La.

The transactions is expected to close within 35 to 40 days, according to a press release from the companies. Terms of the transaction were not disclosed.

"We are looking forward to being a part of the CGB team," WBJ CEO Butch Meibergen said. "WBJ prides itself in providing producers with services they need, and we look forward to offering even more resources in...

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CME Group Volume Averaged 12.9 Million Contracts/Day in January

February 04, 2014

CHICAGO, Feb. 4, 2014 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that January 2014 volume averaged 12.9 million contracts per day, up 13 percent compared with January 2013.  Total volume for January 2014 was more than 271 million contracts, of which 85 percent was traded electronically.

CME Group interest rate volume averaged 6.3 million contracts per day in January, up 18 percent from January 2013.  Eurodollar futures volume averaged 2.6 million contracts per day, up 34 percent from the same period a year ago.  Eurodollar options volume averaged 830,000 contracts per day, up 92 percent from January last year.  Treasury...

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Ag Growth International Inc. Acquires REM GrainVac Product Line

February 04, 2014 | Grain

WINNIPEG, Manitoba - February 3, 2014 - Ag Growth International Inc. ("AGI") has entered into an agreement to acquire the REM GrainVac product line from REM Enterprises Inc. based in Swift Current, Saskatchewan.

REM has led the grain vacuum industry over the last 40 years and with the recent introduction of the VRX model grain vac REM is well positioned for continued leadership in this area. The REM GrainVac will be manufactured in AGI's recently acquired 114,000 square foot manufacturing facility in Swift Current, SK, along with the Batco belt conveyor product line. Sales and manufacturing will transition to AGI immediately with no planned interruption in business.

"We are very pleased...

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Frank Lucas Awarded Wheat Leader of the Year Award by NAWG

February 04, 2014

Feb. 3, 2014 – Washington, D.C. – The National Association of Wheat Growers (NAWG) awarded Rep. Frank Lucas, Chairman of the House Agriculture Committee (R-Okla.) the 2013 Wheat Leader of the Year Award at the annual Wheat Industry Winter Conference in Washington, D.C.

NAWG President Bing Von Bergen presented the award to Rep. Lucas during committee meetings on Friday. After receiving the award, Rep. Lucas gave a brief speech to the NAWG board.

“It is always an honor to be recognized for your efforts on behalf of America’s farmers. This is important to me because I represent one of the largest wheat growing regions in the country. The timing of this award is especially momentous as the...

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ADM Reports Strong Adjusted Fourth Quarter 2013 Earnings of $0.95/Share

February 04, 2014

DECATUR, IL (BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) today reported financial results for the quarter ended Dec. 31, 2013. The company reported adjusted earnings per share1 of $0.95, up 58 percent from the $0.60 in the same period last year. Net earnings for the quarter, which were negatively impacted by charges related to GrainCorp and to ADM’s Brazilian sugar mill, were $374 million, or $0.56 per share, down from $0.77 per share in the same period one year earlier. Excluding specified items, segment operating profit1 was $1.0 billion, up 33 percent.

“The team delivered a strong finish to the year,” said ADM Chairman and CEO Patricia Woertz. “Lower corn costs and...

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AFIA’s EMC Now Accepting Scholarship Applications for Spring 2014

January 30, 2014 | Government

Arlington, Va., January 22, 2014 -- The American Feed Industry Association’s Equipment Manufacturers Committee is now accepting applications from universities for its two new scholarship opportunities. The scholarships, valued at $2,500 each, will support students who have chosen educational pathways in the feed and grain industry at a qualified, higher educational institution.

“The first EMC scholarship partnership began with Kansas State University,” said Keith Epperson, AFIA’s vice president of manufacturing and training. “With the help of IFEEDER (the Institute for Feed Education & Research), EMC is now searching for two additional universities to partner with beginning in spring...

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