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BUSINESS
August 13, 1991 | BRUCE HOROVITZ, Reuters
The Agriculture Department on Monday trimmed its estimates for the nation's corn and soybean harvests by 6% and 3%, respectively, compared to a year ago, and said the unusually dry summer in the Midwest was responsible. Farmers should harvest 7.42 billion bushels of corn and 1.87 billion bushels of soybeans, the department said. These figures were reduced from last month's estimates by 857 million bushels for corn and 100 million for soybeans.
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BUSINESS
May 14, 2013 | By David G. Savage, Los Angeles Times
WASHINGTON - Monsanto Co. and other companies that patent seeds may prohibit farmers from growing a second crop from their genetically modified seeds, the Supreme Court ruled unanimously. The closely watched decision was a clear victory for agribusiness giants and their biotechnological innovations, which have increased crop yields. But it was a setback for the many disgruntled farmers who have complained about the high cost of these miracle seeds. By a 9-0 vote, the justices decided the patent for a specialized seed outlives the first planting.
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BUSINESS
December 12, 1989 | ART PINE, TIMES STAFF WRITER
In a significant victory for U.S. farm interests, an international dispute settlement panel has declared that a portion of the subsidies paid by the European Community to its soybean farmers and processors is illegal under current global trade rules. The ruling, which is to be announced formally later this week, is important to the United States because it establishes a precedent declaring that some agricultural subsidies are illegal.
NEWS
March 20, 2013 | By Monte Morin
Daesang America Inc. is recalling  packages of sesame- and garlic-flavored mixed soy bean paste because they may contain undeclared peanuts, according to the U.S. Food and Drug Administration. People who are allergic to peanuts run the risk of a serious or life-threatening allergic reaction if they consume these products, according to the FDA. The packages were sold in stores nationwide, and online. No injury or illness has yet been reported. "The product comes in a 500 gram (17.64 ounce)
BUSINESS
July 12, 1989 | From Associated Press
The Chicago Board of Trade issued an emergency order Tuesday aimed at breaking up an attempted corner of the soybean market, described by one analyst as "the biggest market play since the Hunts'." The exchange's board of directors ordered all traders holding commitments to buy or sell more than 3 million bushels of soybeans for delivery this month to reduce those positions by at least 20% each trading day through July 20, when the July contract expires.
NEWS
March 29, 2000 | From Associated Press
Government scientists have developed a new soybean that's healthier for the heart because the oil need not go through a process that produces artery-clogging trans fatty acids and it has less than half the saturated fat of conventional soybeans. Food manufacturers, who use soybean oil in everything from margarine to crackers, are eager to get the healthier oil because of Food and Drug Administration plans to require the listing of trans fats on food nutrition labels.
BUSINESS
November 15, 1989 | From Associated Press
Family farmers who say they suffered severe financial losses from a Chicago Board of Trade order last summer filed a federal class-action lawsuit Tuesday, accusing the exchange of illegally manipulating soybean prices. The lawsuit seeking more than $100 million in damages was filed by individual farmers from leading soybean-producing states and the American Agriculture Movement, a lobbying group that represents small farmers and rural business people in 34 states.
BUSINESS
July 14, 1989 | From Associated Press
The late Serafino Ferruzzi made his fortune helping to feed starving postwar Italy. His son-in-law, Raul Gardini, has wider ambitions and they are having repercussions on one of the world's busiest commodities markets. Gardini's company, Ferruzzi Finanziara S.p.A., was the center of attention this week as the reported target of an emergency order by the Chicago Board of Trade to break up an alleged attempt to corner the soybean market.
BUSINESS
February 16, 1985
Corn and soybean futures prices were higher at the close of trading Friday on the Chicago Board of Trade, and analysts said soybeans could advance further in response to a new government report. Activity was light throughout the session and there were few developments to support prices, said Victor Lespinasse, a grain analyst in Chicago with Dean Witter Reynolds.
BUSINESS
July 21, 1989 | ROBERT A. ROSENBLATT, Times Staff Writer
The Chicago Board of Trade, engaged in a bitter fight with a giant Italian agricultural firm over a possible attempt to corner the soybean futures market, revealed Thursday that federal regulators had separately ordered the Italian company to reduce its soybean contract holdings. The order caused the loss of millions of dollars for Ferruzzi Finanziaria S.p.A.
BUSINESS
October 12, 2012 | By Ricardo Lopez, Los Angeles Times
The U.S. Department of Agriculture projects domestic supplies of corn and soybeans will be tight in the next year as the worst drought in decades continues to parch most U.S. states. In its monthly crop report, the USDA reduced its corn production forecast to 10.706 billion bushels, slightly down from last month's projection of 10.727 billion. Illustrating the price squeeze on producers, one of California's largest turkey farmers, Zacky Farms, filed for bankruptcy protection this week, blaming skyrocketing feed costs.
NATIONAL
September 1, 2012 | By Julie Cart, Los Angeles Times
LAKE PROVIDENCE, La. - Eight grim-faced men sit in a cramped, impromptu war room in the shadow of a levee on the Mississippi River. With laptops opened to Web pages of the National Weather Service and the Army Corps of Engineers, the group of farmers, grain brokers and barge operators is engaged in what humans have grappled with for more than 200 years in the Mississippi Delta: puzzling out the latest blow from a stubborn river that refuses every...
BUSINESS
August 19, 2012 | By David Pierson, Los Angeles Times
BEIJING - Construction laborer Yi Jichun has never heard of Illinois or Iowa. But the migrant worker's favorite comfort food comes straight out of the U.S. Midwest: soybean oil. The world's biggest consumers of edible oils, Chinese households have developed a taste for the stuff that would make a county fair fry cook proud. Be it a simple stir-fry, poached fish or deep-fried pork ribs, many Chinese diners love their grub covered in an oily sheen. Jugs of the golden liquid make popular gifts for Chinese New Year.
BUSINESS
July 25, 2012 | By Ricardo Lopez, Los Angeles Times
  California might not be dry as a bone, but with the drought throughout most of the rest of the nation, it might as well be. The drought is pushing up the cost of meat and milk and other dairy products for the state's consumers. That's because the cost of feed for California cattle, poultry and hog farmers is soaring as Midwest farms face a shortage of corn and soybean - key feed ingredients. The higher prices won't hit the grocery shelves for a few months, but when they do, consumers will be paying 10% to 15% more for milk, beef and poultry, farmers and economists said.
BUSINESS
July 19, 2012 | By Ricardo Lopez
As the worst drought in more than 50 years continues to bake the nation's breadbasket, soybean futures have risen to record prices. The unrelenting heat has damaged the country's soybean crop and fields are in their worst condition since 1988, the U.S. Department of Agriculture said this week. Soybean futures for November delivery rose Thursday 1.8%, to $16.49 a bushel, at the Chicago Board of Trade. The previous record price was $16.37 in July 2008. Soybean-meal futures for December delivery also rose by almost 2%, to $487.80 for 2,000 pounds.
WORLD
August 12, 2011 | By Chris Kraul, Los Angeles Times
As a kid, fifth-generation Argentine cattleman Mario Caceres often dressed up in a beret, bandanna and baggy pants called chiripas to emulate his country's gauchos, the nomadic cowboys who once ruled the Pampas and who still symbolize rugged independence, chivalry and expert horsemanship. His head full of the romantic tradition of the gaucho, glorified in songs and the epic poem "El Gaucho Martin Fierro," Caceres built a successful ranching business that once totaled 1,600 head of Angus, one of the breeds that made the name "Argentina" synonymous with beef.
BUSINESS
August 26, 1989 | ROBERT A. ROSENBLATT, Times Staff Writer
Six directors of the Chicago Board of Trade, which forced a sharp reduction in soybean futures trading in a dispute with a big Italian firm, are affiliated with companies whose customers could have lost large amounts of money if trading had continued without restrictions, federal regulators disclosed Friday. The Board of Trade is involved in a bitter legal dispute with Ferruzzi Finanziaria S.p.A.
BUSINESS
August 10, 1989 | From Reuters
Malaysians and the American Soybean Assn. have decided to halt a bitter feud about a U.S. campaign that said palm oil consumption causes heart disease, a Malaysian palm industry official said Wednesday. Both sides have agreed to stop portraying competing products in a negative light, effective immediately, a Malaysian Oil Palm Growers Council statement said.
NATIONAL
June 4, 2011 | By Seema Mehta, Los Angeles Times
Prospective Republican presidential candidate Jon Huntsman said Saturday that he won't try to compete in the Iowa caucuses early next year. Huntsman, responding to a voter's question, said he is opposed to federal agricultural and ethanol subsidies. Such financial support is a make-or-break issue in Iowa, which grows nearly one-fifth of the nation's corn and 15% of its soybeans. "I'm not competing in Iowa for a reason. I don't believe in subsidies that prop up corn, soybeans" and ethanol, he said.
BUSINESS
April 2, 2011 | By P.J. Huffstutter, Los Angeles Times
Bouncing down a dirt road a couple of summers ago, past a gentle patchwork of barnyards and soybean fields in central Iowa, farmer Kent Friedrichsen strained over the steering wheel of his van and stared through the windshield in dismay. His soybean fields, where he'd used seeds developed by Monsanto Co. and sprayed with its popular glyphosate weed killer Roundup Ready, were littered with yellowed leaves and dead plants. Four days earlier, the plants had been waist high and emerald green.
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