France Battling a Strong Rival Grain Corn and US Ag Products; Bayer Still Trying to Lure Monsanto
Yesterday Wheat Futures topped $5.00 a bushel in Chicago, Agrimoney reports, bouncing from heavy losses in the last session, as forecasts for further rain for France's added to support from a strong market in rival grain corn.
And also the French Ban on Cherry pesticide could escalate into more ban on US Ag products as the EU grows more hostile towards Agrichemicals. French Cherry Farmers are upset about the ban that enables them to combat fruit fly infestations and not only started legal action against the country’s food safety agency but also protested by dumping 300 cherry’s trees in Provence in an area that has suffered crop losses from the ban on insecticide that combats vinegar fly infestations.
Finally maybe third times a charm for Bayer. Monsanto refuses Bayer’s second attempt to purchase the company. In recent days Bayer sent the company a letter saying it has lined up financing for the deal and is confident any regulatory obstacles can be overcome, The deal would combine Monsanto, the biggest seed provider with a leading position in biotech crop development, with Bayer, which has a robust lineup of pesticides but a smaller presence in major crops like corn and soybeans.