Payback Time for MF Global
Jun 28, 2013
If you were left with empty pockets after the MF Global collapse in 2011, here’s some good news. MF Global has agreed to pay funds still owed to customers as well as penalties totaling $100 million, Reuters reports. The CTFC is also suing Jon Corzine, says Boston.com, for additional penalties and seeks to ban him from the futures industry. Let’s just hope MF Global’s bankruptcy proceedings will result in enough dough to go around.
The Final Trade
Today is the final day of trading for the Kansas City Board of Trade after the CME Group bought the KCBT last December. The closing bell will mark the end of 157 years of trading, according to the Kansas City Business Journal. Most of the pit-traders will not be making the move to Chicago, Reuters reports.
Gang of Eight Celebrates
With a strong vote of confidence, the Senate passed immigration legislation. The New York Times offers a thorough write-up on the passage, which has some pro-ag labor components, says the Denver Post. The legislation was also hailed by the National Farmers Union. But the celebration may be short-lived as those in the House say "not so quick...."
Test Tube Meat: Yummy!
Grist.org reports from the Farm + Tech Brainstorming Session held in New York City last week that fake meat created in a test tube may be the answer to producing more food to feed the world. Strangely, their anti-technology rhetoric is all in favor of producing "food" in a laboratory. Yuck. What more is there to say?
Rabobank: Cattle Feeding Must Recover
If you’re feeding cattle, there’s little doubt you're very familiar with the color red. Closeouts have been painful to look at for several months. And a report from Rabobank says the health of the cattle feeding segment is key for the industry to recover and rebuild. Cattle Network has the details.
Sour About Sugar
About 6,500 genetically engineered sugar beet plants were "murdered" last week in Oregon, the same state where Roundup Ready wheat was discovered. The FBI is now on the case.