MARKET NEWS HIGHLIGHTS
May 22, 2018
said it is investing in cultured meat company Aleph Farms, an
Israeli startup which is developing 3D tissue engineering technology
to produce steaks and other meat cuts using only cattle cells. The
company said its cultured meat would grow in large bio-farm
facilities similar to a dairy facility. Aleph Farms is hoping for a
commercial launch in 3-5 years. Cargill also invested in Memphis
Meats in 2017, another cell-cultured meat company.
average choice retail beef price in April was reported at 610.2
cents per pound, up 3.4 cents from March, and the highest price
since June 2017. The average all-fresh beef price was quoted at
568.9 cents per pound in April, down 6.5 from March. The average
retail pork price in April was 378.7 cents per pound, down a penny
from the previous month.
Ltd. has extended its leadership revamp under new CEO Gregory
Heckman. John Neppl will join Bunge as Chief Financial Officer,
succeeding Thomas Boehlert. Neppl has been the CFO for
Nebraska-based ethanol producer Green Plains, Inc. Bunge's
agribusiness division, which generates the bulk of its sales, will
now fall under three executives. Raul Padilla, previously Bunge's
head of South America, was named president of global operations.
Christos Dimopoulos, Bunge's previous agribusiness president, will
now oversee global supply chains. Brian Zachman, hired in January,
will continue to serve as president of global risk management.
Bunge reported a $45 million quarterly profit compared to a $21
million loss a year earlier.
jury dealt Bayer AG a third court defeat, awarding $2.055 billion to
a California couple who blamed the company's Roundup weed killer for
causing their cancers. The jury in the third case found Bayer liable
for the non-Hodgkin lymphoma diagnoses of Alva and Alberta Pilliod,
a married couple in their 70's who used Roundup on their San
Francisco Bay Area property for 35 years. The two previous trial
losses have helped wipe more than 30% off Bayer's share price. Last
month, a majority of Bayer shareholders refused to endorse
management's actions in the past year.
European Union Commission has canceled an ethanol anti-dumping duty
against imports from the US in place since 2013. The 9.5% duty was
put in place as a result of a complaint filed by the EU's largest
ethanol producer group, ePure.
the May USDA Crop Production report, USDA estimated the total Kansas
wheat crop at 323.4 million bushels with a 49.0 bushel per acre
yield. Harvested acres are projected to be down 700,000 acres to
6.60 million acres. Last year's production in Kansas was 277.4
million bushels on a 38.0 bushel per acre yield.
Corn planted through May 19th was 49% completed versus the 5-year average of 80%. Soybeans planted were reported at 19% complete versus the 5-year average of 47%. The states that are the farthest behind on corn are Ohio (9%), Indiana (14%), Michigan (19%), South Dakota (19%), and Illinois (24%).