Dow tops 5700 on optimism over oil and inflation trend
The Dow Jones rose 61.32 to 5748.82 marking its first record since early April as cheaper Iraqi oil sales boost inflation hopes. Advancers outpaced decliners on the NYSE with 384.99 million shares traded. Eastern Iowa stocks showed mixed moves as CyCare, General Electric, Eastman Kodak and United Fire all gained while Equitable of Iowa slipped.
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Dow Jones
Dow
New York Stock Exchange
Iowa
CyCare
General Electric
Eastman Kodak
United Fire & Casualty
Equitable of
Grain elevators strained as farmers balk at delivery contracts
In Des Moines a 150 strong group of Midwest elevator officials discussed their rights to enforce crop delivery contracts as corn prices hover above 5 a bushel. Farmers seek to break year old terms while the industry weighs regulatory guidance from the CFTC on contract enforceability.
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DES Moines
Midwest Grain Elevator
David Barrett Jr
National Grain and Feed Association
Barrett
Diana Klemme
Grain Service Corp
Atlanta
U.S. Commodity Futures Trading Commission
CFTC
Sheep checkoff vote rescheduled after irregularities
The USDA suspended the February 6 sheep and wool checkoff results citing voting irregularities. Lon Hatamiya said review showed inconsistent referendum rules at polling places. A second referendum will be held for eligible voters including producers, feeders, and importers, under the 1994 act.
MENTIONED IN THIS ARTICLE
U.S. Department of Agriculture
Soil temperatures rise boosting Iowa crops
Warm weather across Iowa lifted soil temperatures from the 40s and 50s into the 60s and 70s, accelerating corn emergence to 19 percent statewide as farmers report early ground growth. Planting progress runs ahead, with 86 percent of corn acres planted and 20 percent of soybeans. daily rains hinder progress. Gov Branstad will monitor conditions and may convene a crop emergencies task force as several counties face disaster designations due to wet weather.
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Iowa
Sign-up for new farm program goes smoothly
Farmers used a rain break to enroll in the seven year program at the Linn County Farm Service Agency. Enrollment opened Monday and runs through July 12. About 50 had signed by 3 p.m. Others with smaller acreages may skip the paperwork.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Farm Service Agency
Linn County
Brian Reimer
Swine expert touts south central South Dakota as hog hub
University of Nebraska extension swine specialist Mike Brumm says a south area near Mitchell is the nation’s best place to raise hogs due to cheap feed grains, strong work ethic, transport access on I 90, and proximity to packers. Four area farms are signing on to feed hogs, and investor interest grows aided by a relaxed corporate farming rule.
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S.D
Mike Brumm
University of Nebraska
Brumm
U.S
Maine
Austin de Coster
South Dakota
Iowa
Nebraska
Court curbs excessive punitive damages in BMW case
The Supreme Court, in a 5-4 ruling, nullified a 2 million punitive award against BMW over touched up paint on a car, saying the amount was grossly excessive and violated due process. The decision provides guidance to judges on preventing overreaching reputational and financial penalties.
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Washington
Supreme Court
Alabama
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