Entries tagged "agriculture"
JBS of Brazil will reportedly pay $2.5 billion to take Texas poultry producer Pilgrim's Progress out of bankruptcy.
Food is the body's fuel, and increasingly, that of cars, factories and our homes. And that's creating friction, and bankruptcy, throughout the American heartland. Pittsburg, Texas-based Pilgrim's Pride Corp., one of the nation's largest chicken producers, filed for Chapter 11 bankruptcy protection on Dec. 1 and is a member of Food Before Fuel, which is an interest group that promotes rolling back laws mandating the production and use of renewable fuels such as ethanol made from foodstuffs such as corn. Corn is also used for chicken and other animal feeds. ...
Adding another round of hearings on fuel prices, the House Agriculture Committee this week will spend three days examining the links between spiking prices and "speculation" by institutional investors. ...
The Deal's Washington bureau chief Bill McConnell on Friday appeared on CNBC's "Squawk Box" to discuss factors that could burst the agriculture bubble. Spiking oil prices, a shift out of commodities by Wall Street funds and a political backlash against ethanol subsidiaries each could throw cold water on the go-go farm economy. McConnell's cover story in the May 5 issue of The Deal newsweekly takes an in-depth look at today's booming farm economy and what impact a crash would have on farmers and their lenders. - The editors...
The bubble in agricultural land won't last forever, but for now, it's fertile ground.
