There is no word from Syngenta about settling lawsuits related to the marketing of Agrisure Viptera seed, which resulted in China rejecting U.S. corn shipments, but there is speculation that settlements might happen if China follows through with importing such corn in the near future. At the same time as Chinese import approval is being talked about, law firms have announced they are expanding class-action lawsuits against Syngenta to include farmers in more states.
It has been near unanimous approval of President Obama’s move toward normalized relations with Cuba by major farm and commodity organizations. Several issued positive statements about the outlook for increased agricultural exports to the island nation.
Indian Farmers Fertiliser Cooperative (IFFCO), India's largest fertilizer producer, said it was suspending plans for a nitrogen fertilizer factory in Bécancour, Québec as its cost estimate exceeded $1.72 billion.
Corn futures backed away from early Thursday highs. Surging equity markets reflect renewed optimism about the global economic & political outlook, which in turn seems bullish for grain demand prospects. Corn futures rallied significantly in early morning action, but slumped in the wake of the mediocre result on the weekly USDA Export Sales report. March corn futures close 2.75 cents higher at $4.11/bushel Thursday, while July added 3.0 to $4.2625.
The overall quality of the United States’ 2014 corn crop was good, with 88 percent of samples rating at grade No. 2 or better, according to the U.S. Grains Council’s (USGC) 2014/2015 Corn Harvest Quality Report.