Latest News From Reuters

US Justice Department Probing ADM Accounting Practices
US Justice Department Probing ADM Accounting Practices

According to two sources, in recent days the U.S. Attorney's Office for the Southern District of New York has interviewed former ADM employees, ramping up pressure on the global commodities giant.

U.S. States Flex New Power To Steer Antitrust Lawsuits
U.S. States Flex New Power To Steer Antitrust Lawsuits

A ruling this week in Arkansas showed U.S. states' heightened ability to control the battleground for antitrust lawsuits, invoking a federal law that creates new headaches for corporate defendants. 

BASF Gives Agriculture, Battery Units More Autonomy But No Plan To Split
BASF Gives Agriculture, Battery Units More Autonomy But No Plan To Split

The company, with sales of $94 billion last year, will create legally separate entities for the three units, trade union IGBCE said in a statement on Thursday, which was confirmed by a company spokesperson.

China Makes Largest US Soy Purchases in Months
China Makes Largest US Soy Purchases in Months

Chinese importers bought around 10 cargoes of soybeans, or about 600,000 metric tons, for shipment from Gulf Coast and Pacific Northwest export terminals between December and March.

Bayer Investor Urges Rethink After Latest Glyphosate Defeat
Bayer Investor Urges Rethink After Latest Glyphosate Defeat

After losing its third consecutive trial, a Bayer investor called for the company to reconsider its litigation strategy, and a trial lawyer signaled interest in restarting settlement talks for thousands of Roundup cases.

Brazil Clears Bottlenecks to Oust US as Top Corn Exporter
Brazil Clears Bottlenecks to Oust US as Top Corn Exporter

Brazil briefly wore the global corn export crown in 2012 because of the U.S. drought. With the ability to churn out three corn crops per year and a supply deal with China, Brazil might be set to maintain that title.

Moscow Halts Grain Deal After Bridge to Crimea Struck
Moscow Halts Grain Deal After Bridge to Crimea Struck

The Kremlin said there was no link between the attack and suspending the deal, which lets Ukraine export grain through the Black Sea. Instead, it occurred over a failure to ease rules for food and fertilizer exports.

EU Seeks Revised GMO Rules to Loosen Curbs on Gene-Edited Crops
EU Seeks Revised GMO Rules to Loosen Curbs on Gene-Edited Crops

The European Commission proposed revising its rules on genetically modified organisms (GMOs) on Wednesday to loosen some restrictions for plants resulting from newer gene-editing technology.

Grain Trader Viterra in Talks to Merge With Rival Bunge
Grain Trader Viterra in Talks to Merge With Rival Bunge

According to a person familiar with the matter, there is no certainty Viterra will be able to reach an agreement on the terms of a deal.

U.S. States Reach Colorado River Water Conservation Deal
U.S. States Reach Colorado River Water Conservation Deal

Seven U.S. states along the drought-starved Colorado River have reached a deal with the Biden administration to conserve water in a "historic consensus" to prevent supply problems for big cities as well as farmers.

BREAKING: Black Sea Grain Deal Extended for Two Months
BREAKING: Black Sea Grain Deal Extended for Two Months

The Ukraine Black Sea grain deal has been extended for two more months, one day before Russia could have quit the pact over obstacles to its grain and fertilizer exports.

Biden Administration Announces $11 Billion for Rural Clean Energy Projects
Biden Administration Announces $11 Billion for Rural Clean Energy Projects

Rural electric cooperatives, utilities and other energy providers will soon be able to apply for nearly $11 billion in grants and loans for clean energy projects, funded by the $430 billion Inflation Reduction Act.

Fed Delivers Rate Hike, Signals Possible Pause in Further Increases
Fed Delivers Rate Hike, Signals Possible Pause in Further Increases

The Federal Reserve raised interest rates by a quarter of a percentage point and signaled it may pause further increases. In an overt shift, the central bank no longer says it "anticipates" further rates will be needed.

Illinois Dust Storm Blinds Drivers, Causes Fatal Chain-Reaction Crashes
Illinois Dust Storm Blinds Drivers, Causes Fatal Chain-Reaction Crashes

State police said the pileups were caused by "excessive winds blowing dirt from farm fields across the highway, resulting in zero visibility."

Tyson Foods Plant Closure Raises Antitrust Concerns Among U.S. Farmers and Experts
Tyson Foods Plant Closure Raises Antitrust Concerns Among U.S. Farmers and Experts

Tyson Foods gave its chicken suppliers two months' notice of its plan to shut a Virginia processing plant in May, raising concerns among farmers and legal experts about Tyson's compliance with antitrust regulations.

USDA Announces Working Group on Seed Industry Consolidation
USDA Announces Working Group on Seed Industry Consolidation

Several federal agencies are working together on competition issues in the seed sector as part of a broader Biden administration push to enhance competition in agriculture.

Bill Anderson to Become CEO of Bayer
Bill Anderson to Become CEO of Bayer

Bill Anderson, most recently the head of Roche's pharmaceuticals division, will succeed Werner Baumann as chief executive at Germany's Bayer on June 1.

French Insect-Based Ingredients Maker Ynsect Expands in North America
French Insect-Based Ingredients Maker Ynsect Expands in North America

French company Ynsect has signed deals to build insect ingredient production sites in the U.S. and in Mexico as the firm kicks off what it says will be the world's largest insect farm.

U.S. Corn Farmers Wary of Vomitoxin, Latest Stress on Global Grain Supplies
U.S. Corn Farmers Wary of Vomitoxin, Latest Stress on Global Grain Supplies

A fungus that causes "vomitoxin" has been found in some U.S. corn harvested this fall, causing headaches for growers and livestock producers and forcing ethanol plants and grain elevators to scrutinize grain deliveries.

Corteva to Exit Some Markets, Cut Jobs in Cost-Saving Push
Corteva to Exit Some Markets, Cut Jobs in Cost-Saving Push

Corteva Inc announced on Tuesday plans to exit about 35 countries and lay off roughly 5% of its global workforce as part of the company's cost-cutting plans.

train-track-rail
Biden Administration Presses Unions, Railroads to Avoid Shutdown

Widespread railroad disruptions could choke supplies of food and fuel, spawn transportation chaos, stoke inflation and cause $2 billion per day in lost economic output.

Russia Hits Southern Ukraine City, Killing Owner of One of the Country's Largest Grain Exporting Companies
Russia Hits Southern Ukraine City, Killing Owner of One of the Country's Largest Grain Exporting Companies

Heavy Russian strikes hit the southern Ukrainian port city of Mykolaiv overnight and early on Sunday, killing the owner of one of the country's largest grain producing and exporting companies, the local governor said.

The Archer Daniels Midland Co. corn processing plant in Peoria, Illinois.
Grain Trader ADM's Profit Jumps 74% on Strong Global Grain Demand

Global grain trader Archer-Daniels-Midland Co (ADM) reported a 74% rise in second-quarter profit on Tuesday, benefiting from high demand for grains and tighter supplies following Russia's invasion of Ukraine.

Trucker Blockade Shuts Down Major California Seaport for Second Day
Trucker Blockade Shuts Down Major California Seaport for Second Day

Truckers protesting California's new "gig worker" law blockaded the state's third-busiest seaport for a second day on Thursday, stalling agricultural exports and threatening to worsen U.S. supply chain backups.

Trucker Blockade Shuts Major California Seaport for Second Day
Trucker Blockade Shuts Major California Seaport for Second Day

Truckers protesting California's new "gig worker" law blockaded the state's third-busiest seaport for a second day on Thursday, stalling agricultural exports and threatening to worsen U.S. supply chain backups.

Fertilizer-Maker Yara Warns of Nitrogen-Based Fertilizer Shortages Due to High Gas Prices
Fertilizer-Maker Yara Warns of Nitrogen-Based Fertilizer Shortages Due to High Gas Prices

Norwegian fertilizer-maker Yara posted slightly higher than expected second-quarter profits on Tuesday and warned there could be shortages of nitrogen-based fertilizers amid high gas prices.

U.S. Natural Gas Futures Rise 2% to 4-Week High on Hotter Forecasts
U.S. Natural Gas Futures Rise 2% to 4-Week High on Hotter Forecasts

U.S. natural gas futures rose 2% to a four-week high on forecasts for hotter weather and more demand than previously expected. Extreme heat already boosted power demand to record highs in several parts of the country.

Mexican President Says Some Tariffs Under USMCA Can Be Immediately Suspended
Mexican President Says Some Tariffs Under USMCA Can Be Immediately Suspended

Mexican President Andres Manuel Lopez Obrador said on Tuesday that some tariffs under USMCA could immediately be suspended, as he visited the White House to meet U.S. President Joe Biden.

U.S. Supreme Court Rejects Bayer Bid to Nix Roundup Lawsuits
U.S. Supreme Court Rejects Bayer Bid to Nix Roundup Lawsuits

Bayer has argued that the cancer claims over Roundup and glyphosate go against sound science and product clearance from the EPA.

Syngenta Appoints New Senior Executive to Help Steer $10 Billion IPO
Syngenta Appoints New Senior Executive to Help Steer $10 Billion IPO

Syngenta has appointed a senior executive to help steer the seeds and pesticides maker's planned $10 billion flotation, the company said on Friday. Syngenta also announced additional management changes.

Ukraine's Embattled Farmers Running on Empty as World Faces Possible Food Crisis
Ukraine's Embattled Farmers Running on Empty as World Faces Possible Food Crisis

After making it through the spring planting season, sometimes with the help of bulletproof vests and helmets, Ukraine's farmers are facing another challenge – finding enough diesel for the harvest to come.

Oil Pumps
Biden Administration Has Not Ruled Out Curbs on Exports to Ease Fuel Prices

U.S. President Joe Biden has not ruled out using export restrictions to ease soaring domestic fuel prices, U.S. Energy Secretary Jennifer Granholm said on Tuesday.

Labor Issues, Idle Trains Leave U.S. Grain and Food Stranded
Labor Issues, Idle Trains Leave U.S. Grain and Food Stranded

Rail backlogs in the United States are delaying shipment of grains as well as processed flour and corn syrup, contributing to the national problem of inflation, food and grain companies said at a hearing this week.

Ukrainian Farmers Don Bulletproof Vests to Plow Frontline Fields
Ukrainian Farmers Don Bulletproof Vests to Plow Frontline Fields

Ukrainian farmers in the southern region of Zaporizhzhia are determined to get their fields planted this spring.

Corn Futures Hit Decade-High Above $8/Bushel on Global Supply Concerns
Corn Futures Hit Decade-High Above $8/Bushel on Global Supply Concerns

Chicago Board of Trade (CBOT) corn futures topped $8 a bushel and reached their highest price in nearly a decade on Monday on concerns over unfavorable U.S. crop weather and the Ukraine war disrupting grain exports.

In the U.S., Manure is 'Hot Commodity' Amid Commercial Fertilizer Shortage
In the U.S., Manure is 'Hot Commodity' Amid Commercial Fertilizer Shortage

Livestock farmers, including those who previously paid to have animal waste removed, have found a fertile side business selling to grain farmers. Equipment firms that make manure spreading equipment are also benefiting.

Ukraine's Spring Crops Sowing Up 10% From Last Year, Says Deputy Agriculture Minister
Ukraine's Spring Crops Sowing Up 10% From Last Year, Says Deputy Agriculture Minister

Ukrainian farmers had sown about 400,000 hectares (988,000 acres) with various spring crops by Thursday, or a tenth more than by the same date last year, despite the Russian invasion, said deputy ag minister.

Canada's CP Rail To Resume Operations After Arbitration Agreement
Canada's CP Rail To Resume Operations After Arbitration Agreement

Canada's Minister of Labour Seamus O'Regan Jr, who mediated the talks, said normal operations will continue at CP during the arbitration period.

Canadian Pacific Rail Strike to Add to Commodities Supply Shock, Hurt Farmers Ahead of Planting
Canadian Pacific Rail Strike to Add to Commodities Supply Shock, Hurt Farmers Ahead of Planting

A labor dispute that shut down operations at Canadian Pacific Railway Ltd on Sunday is set to aggravate a shortage of commodities, and a prolonged lockdown could hurt farmers ahead of the spring planting season.

potash
Nutrien to Increase Potash Production Amid Eastern Europe Supply Worries

On Wednesday, Nutrien said it plans to increase potash output by nearly 1 million tonnes this year to about 15 million tonnes.

Plains Drought to Curb U.S. Wheat Harvest, Adding to Global Supply Worries
Plains Drought to Curb U.S. Wheat Harvest, Adding to Global Supply Worries

(Reuters) - A worsening drought in the southern U.S. Plains is threatening the region's winter wheat crop just as the Russian invasion of Ukraine dents global supplies.

Oil Pumps
Oil Price Surges to Highest Since 2008 on Delays in Iranian Talks

Oil prices soared to their highest since 2008 due to delays of Iranian nuclear talks and the potential return of Iranian crude to global markets, which are already suffering from Russian supply disruptions.

Two-Mile Long 'People's Convoy' Truck Protest Drives Laps Around Washington
Two-Mile Long 'People's Convoy' Truck Protest Drives Laps Around Washington

Hundreds of trucks, recreational vehicles and cars were circling the outskirts of Washington on Sunday, threatening to cause traffic backups around the capital as part of a protest against pandemic restrictions.

russia-st-petersburg
Russian Ministry Recommends Fertilizer Producers Halt Exports

Russia’s trade and industry ministry has recommended the country’s fertilizer producers temporarily halt exports, the ministry said Friday, in a sign that sanctions imposed could have a global impact.

Wheat Continues Surge on Black Sea Supply Concerns as Ukraine-Russia Crisis Continues
Wheat Continues Surge on Black Sea Supply Concerns as Ukraine-Russia Crisis Continues

Chicago wheat futures rose sharply on Monday after hitting 13-1/2 year highs on Friday, lifted by concern that Russia's invasion of Ukraine and Western sanctions will continue to disrupt Black Sea region grain exports.

JUST IN: ADM sets record for single soybean shipment from northern Brazil
JUST IN: ADM sets record for single soybean shipment from northern Brazil

By Nayara Figueiredo SAO PAULO, Feb 22 (Reuters) - U.S. grains merchant Archer-Daniels-Midland Co said on Tuesday it has carried out the largest soybean shipment in the history of the Ponta da Montanha

Bayer Declares Force Majeure, Says Production of Glyphosate May be Curtailed
Bayer Declares Force Majeure, Says Production of Glyphosate May be Curtailed

Pesticide and seed producer Bayer said on Monday a supplier of an ingredient for its widely used herbicide glyphosate has run into technical problems which may hamper Bayer's output of the product in the short term.

gavel-5
Judge Blocks Biden Measure for Calculating Climate Risks, Including Agriculture Impact

A federal judge on Friday blocked for now the Biden administration from restoring Obama-era values for calculating the cost of climate change in the government's permitting, investment and regulatory decisions.

U.S. December Exports to China Drop, Cementing 'Phase 1' Purchases Shortfall
U.S. December Exports to China Drop, Cementing 'Phase 1' Purchases Shortfall

U.S. goods exports to China fell in December, cementing a $45 billion increase in the 2021 U.S.-China trade deficit and a major two-year shortfall in Beijing's purchase commitments under the "Phase 1" trade deal.

soybeans
Soybeans Climb to Eight-Month High on South American Supply Worries

Chicago soybean futures jumped more than 1% on Monday to their highest since June on concerns over supplies from South America and strong demand from China.