WINNIPEG, Manitoba — Canadian wheat growers will probably reduce output by 26 percent this year and canola production will also fall, the government's statistics agency said Thursday. Wheat production will drop to 27.7 million metric tons from a record 37.5 million in 2013, Statistics Canada said in a report from Ottawa. The average estimate of 10 analysts surveyed by Bloomberg News was 29.1 million. The canola harvest in Canada, the world's largest grower, will fall 23 percent to 13.9 million tons.
MELBOURNE, Australia — The wheat harvest in Australia, the fourth-largest shipper, will be bigger than predicted by the government after rains in eastern growing areas boosted yields. Production may total 24.9 million metric tons in 2014-2015, according to the median of seven analyst and trader estimates compiled by Bloomberg. That compares with a government forecast of 24.6 million tons and 27 million tons a year earlier.
CHICAGO — The ripening corn and soybean fields stretch for miles in every direction from Dennis Wentworth's farm in Downs, Illinois. As he marveled at his best-yielding crops ever, he wondered aloud where the heck he'll put it all. "Logistics are going to be a huge problem for everyone," the 62-year-old grower said, adding that he has invested in boosting output rather than grain bins. When harvesting starts in a few weeks, Wentworth expects his 150-year-old family farm to produce 10 percent more than last year's record.
NEW YORK — Hedge funds extended the longest bearish streak for soybeans in eight years as improving crop conditions bolster prospects for a record harvest in the U.S., the world’s largest grower. Money managers have been betting on declines for five straight weeks, the most since October 2006. The U.S. on Aug. 12 raised its outlook for domestic production that was already forecast at an all-time high.
Two years after the worst U.S. drought in a century cut output and sent prices to the highest ever, rain and milder weather of the past two months are creating ideal growing conditions.
A very small airplane rose over the Gaza Strip last week. It entered Israeli airspace and sped toward the coastal city of Ashdod. Then a Patriot missile blew it up. The plane, a rudimentary drone launched by the terrorist group Hamas, posed little threat. But Hamas promises more to come — including some intended for “suicide missions.” That suggests a vexing problem: As drones become more commonplace, what’s to stop terrorists from using them? Drones have an obvious appeal to the extremist mind.
By Megan McArdle A couple weeks ago, a woman was charged with leaving her child in the car while she went into a store. Her 11-year-old child. Last week, a woman was arrested for allowing her 9-year-old daughter to go to the park alone. Which raises just one question: America, what the heck is wrong with you? I'm not interested in defending mothers who are under stress or are low-wage workers without a lot of great child-care options.
By Brian K.
By Alan Bjerga WASHINGTON — The U.S. government Friday increased its forecast for a surplus of corn, raising the prospect prices will tumble to levels that would trigger subsidy payments to farmers. Corn supplies in 2015 will reach 1.801 billion bushels, 4.3 percent larger than forecast last month, the U.S.
By Dan Murtaugh HOUSTON — The road to U.S. energy security is often unpaved. In southern Texas and North Dakota, where shale drilling has propelled U.S. oil production to the highest level in 28 years, thousands of 18-wheel trucks are rumbling to wells on roads designed decades ago for farmers to bring crops to markets.