Oil and gas futures rise on storm worries
Oil and gas futures climbed as forecasters warned of more hurricanes this season and as OPEC signaled no near term production increase. Port Arthur refineries faced issues, inventories sank to lows, and Brent and NYMEX crude rose with gasoline.
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John Kilduff
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Port Arthur
Texas
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Valero Energy Corp
Organization of Petroleum Exporting Countries
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Liberty Trading Group
Tampa
Fla
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London
Brent
ICE Futures Exchange
Phil Flynn
Alaron Trading Corp
Chicago
Iowa farmers advance seed corn harvest statewide
David DeWitte reports Iowa farmers moved into seed corn harvest with dry warm weather. Ninety four percent of corn reached dough stage and 77 percent dent stage, both ahead of five year averages. Soybeans show 52 percent good and 21 percent excellent conditions with leaves turning color at 33 percent. The week’s moisture improved soil conditions as topsoil moisture statewide remained adequate at 80 percent with 17 percent surplus.
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David DeWitte
Gazette
Iowa
National Agricultural Statistical Service
Lowden
Muscatine
Rockwell City
Waukon
Exports Support Economy Amid Slower Manufacturing
U S exports remain a bright spot as August manufacturing expands at a slower pace and July construction spending falls 0.4 percent, signaling a drag from housing and credit tightening. Analysts warn overseas sales alone may not prevent a slower growth path in the second half.
MENTIONED IN THIS ARTICLE
Everett
Wash
Washington
Commerce Department
Bedroom sets scarce as consignment standards bite
Theiss notes furniture must be in good condition for consignment and calls bedroom pieces hardest to supply. She says customers want matched sets and chests of drawers disappear in about two weeks. Despite a soft spring, sales are ahead of last year as she aims to maintain or grow profit.
MENTIONED IN THIS ARTICLE
Theiss
Midwest growth in August 56.0 index signals slower expansion
An August survey of nine Midwestern and Plains states shows slower growth ahead. Creighton University economist Ernie Goss notes the Business Conditions Index at 56.0 and cites high inflationary pressure, yet farm income and bio fuels support regional activity. Iowa expects growth but with lower July levels, while durable goods activity outpaced non durable goods.
MENTIONED IN THIS ARTICLE
Omaha
Neb
Midwestern
Plains
Mid-America
Creighton University
Ernie Goss
Goss
Iowa
Monsanto and Iowa State resolve soybean patent dispute
Monsanto and the Iowa State University Research Foundation reached a settlement over a low‑acid soybean patent. The agreement grants Monsanto a commercial license for ISU’s low linolenic soybean lines and provides the university a research license to use Monsanto’s Roundup Ready2 Yield soybeans. Released terms were not disclosed.
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AMES
Monsanto
Iowa State University Research Foundation
St. Louis
Iowa State University
Holden Foundation Seeds
Williamsburg
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