GRAINNET News and Information for the Grain, Milling, Feed, Seed and BioFuels Industries ADM Sells Global Chocolate Businesss to Cargill Tue, 02 Sep 2014 16:31:42 EDT Chicago—Archer Daniels Midland Company (NYSE:ADM) Sept. 2 announced an agreement to sell its global chocolate business to Cargill for $440 million, subject to a customary working-capital adjustment. The proposed sale is expected to close during the first half of 2015 and is subject to regulatory approval and other customary conditions. “As part of our ongoing portfolio management, we considered several options to strengthen the returns of this part of our business,” said ADM Chairman and CEO Patricia A. Woertz. “The sale of the chocolate business helps improve ADM’s returns and will allow us to redeploy capital for higher-return investments.” Included USDA Weekly Crop Progress Report: Corn, 90% Dough, 53% Dented, 8% Mature; Soybeans, 95% Setting Pods, 5% Dropping Leaves; Spring Wheat, 38% Harvested Tue, 02 Sep 2014 16:26:19 EDT International Grains Council August Grain Market Report ... Summary Tue, 02 Sep 2014 14:35:35 EDT Landmark Services Cooperative Fall River, WI Shuttle Loader Up and Running (PDR) Tue, 02 Sep 2014 13:56:43 EDT ND Public Service Commission Recommends Final Payment in Falkirk Farmers Elevator Insolvency Case (AgWeek) Tue, 02 Sep 2014 13:41:46 EDT Electrical Fire Scare Temporarily Shuts Down Grain Elevator in Kansas City, MO (FOX4KC) Tue, 02 Sep 2014 13:38:41 EDT GROWMARK Reports Estimated Year-End Financial Results Tue, 02 Sep 2014 13:30:16 EDT Chicago—Solid volume growth in GROWMARK business units produced record sales for the cooperative for the 2014 fiscal year, which ends August 31. Jeff Solberg, chief executive officer, reported unaudited, estimated sales of $10.2 billion for FY 2014. Pretax income is estimated at $180 million, a strong year which will once again exceed the key financial target of 12 percent return on capital. An estimated $90 million in patronage refunds will be returned to GROWMARK member cooperatives and farmer-owners. “The GROWMARK System has spent the year strengthening the foundation of excellent products and services that the FS brand is known for: MGEX Reports 10th Highest Monthly Volume in Exchange History Tue, 02 Sep 2014 13:10:14 EDT Minneapolis, MN—MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), announces a total volume of 199,512 from August, the 10th -highest monthly volume in Exchange history and a 17 percent increase over the total volume from August 2013. It is the highest volume during the month of August since 2010. Total electronic volume during August was 167,454, the eighth-highest monthly total ever and the highest during the month of August since 2010. It also marks a 22 percent increase over the total electronic volume from August 2013. Open interest at the end of August was 60,787, which Grain Processing Corp. Leases Plainville Elevator in Washington, IN (GCDW) Tue, 02 Sep 2014 11:48:44 EDT Chris Novak Named NCGA CEO Tue, 02 Sep 2014 11:46:28 EDT St. Louis—After a comprehensive recruitment process with many strong candidates, the National Corn Growers Association announced Sept. 2 that Chris Novak will become the organization’s next chief executive officer, taking the place of 14-year veteran Rick Tolman, who earlier this year announced his intention to retire from the organization. “We’re thrilled to have Chris join us at NCGA,” said NCGA President Martin Barbre, a corn grower from Illinois. “He has all the right qualifications to take the reins of this growing organization and keep it moving in the right direction, continuing the tradition of success we saw under Rick Tolman.” Novak’s first Wheat Growers (SD) Welcomes Chilean Ag Group Tue, 02 Sep 2014 11:10:20 EDT Aberdeen, SD—Wheat Growers hosted 15 farmers and agribusiness people from Chile as part of their U.S. Ag Tour. Aberdeen was the second stop on the 10-day tour that will take the group from North and South Dakota to Iowa, Kansas and Illinois. The Aberdeen visit began at Wheat Growers headquarters, where the group received a review of the scope of the cooperative’s business from Wheat Growers CEO, Dale Locken and Bill Pool, Wheat Growers Director of Communications and Corporate Marketing. The Chileans then toured Wheat Growers’ Grebner grain facility and the Bath fertilizer facility as well as the West Terminal and All FGDI Offices / Locations Changing Name to AGREX, INC. As of Sept. 1 Fri, 29 Aug 2014 16:00:52 EDT Overland Park, KS—Agrex Inc. is announcing the name change of all FGDI offices and locations through out the United States from the current business name of FGDI, A Division of Agrex, to AGREX INC. for all business and trading transactions, as of September 1, 2014. This change will allow a consolidated focus for the two businesses in our domestic and international trading. IL Sen. Durbin Urges STB to Closely Monitor Rail Capacity Ahead of Expected Record Harvest Fri, 29 Aug 2014 11:34:59 EDT Washington, DCand#151;U.S. Senator Dick Durbin (D-IL) Aug. 27 sent a letter to Surface Transportation Board (STB) Chairman Dan Elliot asking him to monitor possible impacts to rail service capacity in Illinois ahead of an expected record harvest this crop season. Given Illinois’ extensive rail network, Durbin asked the STB to prepare for any impacts on rail capacity or delays in service that could affect Illinois’ farmers and producers as they look to ship their crops across the country. “I strongly encourage you to pay particular attention to how Illinois, our shippers, farmers and communities will be impacted by the anticipated Purdue Extension Corn Specialist Says Crop Progressing Ahead of 2009 Fri, 29 Aug 2014 11:30:18 EDT West Lafayette, IN—Indiana corn is developing ahead of the weather-damaged crop of 2009 when similarly wet conditions left much of the grain infected with fungal diseases at harvest, Purdue Extension corn specialist Bob Nielsen says. But uncertainties for some of the crop still lie ahead. Nielsen noted that there are concerns that this year's crop could suffer the same fate as the 2009 crop, which matured late, dried down slowly before harvest and was laden with ear rots and mycotoxins - toxic substances produced by the fungi that cause some ear rots. "The good news is that the progress of the Ohio State University Extension Offers Advice on Estimating Corn Yield (HCS) Fri, 29 Aug 2014 11:05:58 EDT North Dakota State University Extension Engineer Kenneth Hellevang on Alternative Grain Storage Fri, 29 Aug 2014 08:44:04 EDT Grain storage capacity is needed in a number of areas for a variety of reasons. The following article summarizes some of the key points regarding using buildings, grain bags, and piles. A news release on the same topic is at Grain can be stored in many types of facilities, but all storage options should keep the grain dry and provide adequate aeration to control grain temperature. Grain must be dry and cool when placed into alternative storage facilities. Aeration to control grain temperature is a critical part of alternative storage, but it is not feasible to provide adequate airflow USGC Hosts Japan Biotech Regulatory Officials Fri, 29 Aug 2014 08:31:27 EDT Corn Exports to Middle East and North Africa Surge in Marketing Year Fri, 29 Aug 2014 08:30:29 EDT Vietnam Grants Licenses For Four GM Corn Varieties Fri, 29 Aug 2014 08:29:25 EDT USGC Releases Second Installment of Corn Production Video Series Fri, 29 Aug 2014 08:28:45 EDT North Dakota Grain Elevators Respond to Surge in Vomitoxin (KXNet) Fri, 29 Aug 2014 08:17:08 EDT University of Illinois Analysis: Did We Miss The Boat on Corn Plant Population in 2014? Thu, 28 Aug 2014 14:21:59 EDT Urbana, IL—Though some growers may be wondering if they took full advantage of this year’s high-yielding conditions, a University of Illinois crop scientist said data does not necessarily show that increasing plant population would have made for bigger yields this year. “Did we all miss the boat by planting ‘only’ 35,000 or so seeds per acre this year? Fortunately, we have data to answer this question,” said Emerson Nafziger. “Since 2011, we have been running trials at a dozen sites around Illinois in which we plant six to eight hybrids at a range of populations, including planting rates of 34,000 and Western Canada Expected to See Another Big-Volume Grain Shipping Year (StarPhoenix) Thu, 28 Aug 2014 13:39:04 EDT AB Ag and Rural Development Specialist Says Proper Storage Techniques Needed to Protect Grain (Fairview Post) Thu, 28 Aug 2014 13:37:47 EDT North Dakota Mill Posts Second Highest Profit Ever (AgWeek) Thu, 28 Aug 2014 13:05:33 EDT