Thursday October 24 Ag News

Landlord/Tenant Lease Workshops This Fall Across Nebraska

The Landlord/Tenant Cash Lease workshops offered in November and December will help landlords and tenants put together a lease that is right for both parties, and help maintain positive farm leasing relations.

Topics for discussion include:
- Latest information about land values and cash rental rates for the area and state;
- Expectations from the lease, including goal setting for the rental property;
- Lease termination, including terminating handshake or verbal leases;
- Lease communication, determining appropriate information sharing for both the tenant and landlord;
- Alternative cash lease arrangements, flexible provision considerations for your situation; and
- Other topics, like irrigation systems, hay rent, pasture rental agreements, and grain bin rental will be covered as time allows.

The UNL Extension Educator team of, Allan Vyhnalek, Jessica Johnson, Monte Vandeveer, Robert Tigner, and Tim Lemmons, will present on these topics and provide common sense tips during the presentation. It is very helpful if both the tenant and landlord can attend together.  It is also helpful if the spouse attends.   Everyone is welcome to the workshop.

This free workshop is sponsored by the Nebraska Soybean Board and the North Central Risk Management Agency.  Refreshments and handouts are provided. Registration is requested by calling the host county of the workshop.  Register by three days prior to the workshop you would like to attend to ensure that there are enough handouts and refreshments.

This workshop has been held extensively across Nebraska for the past two years with over 2,200 attending.  The vast majority of both landlords and tenants find the workshop to be very helpful in improving communications, setting rental terms, and learning about the use of flex lease provisions.  As crop budgets are tighten, it is even more important to attend and listen to the latest discussion about leasing issues.

For more information or assistance, please contact Allan Vyhnalek, Extension Educator, University of Nebraska-Lincoln, Extension in Platte County.  Phone: 402-563-4901 or e-mail avyhnalek2@unl.edu
      
Landlord/Tenant Meetings
Date - City - Location - Start time - Registration Phone #

Nov. 6, 2013, Valentine, Cherry Co. Extension Office, 9:00 AM, 402-376-1850
Nov. 6, 2013, Chadron, Dawes County 4-H Building, 3:00 PM, 308-432-3373
Nov. 19, 2013 ARDC near Mead, 9:00 AM, 402-624-8030
Nov. 19, 2013, near Weeping Water, Cass Co. Extension Office, 1:30 PM, 402-267-2205
Nov. 20, 2013, Shickley, Community Center, 9:00 AM, 402-759-3712
Dec. 2, 2013, O'Neill, Holt Co. Extension Office, 1:00 PM, 402-336-2760
Dec. 3, 2013, Neligh, New Fair Exhibit Bldg. - Fairgrounds, 9:00 AM, 402-887-5414
Dec. 3, 2013, Wolbach, Community Center, 3:00 PM, 308-728-5071
Dec. 4,2013, Bloomfield, Bloomfield Community Center, 2:00 PM, 402-288-5611
Dec. 5, 2013, Ponca, Community Hall, 9:00 AM, 402-584-2234
Dec. 5, 2013, Laurel, Laurel Learning Center, 2:00 PM, 402-254-6821
Dec. 5, 2013, Lexington, Extension Office, Fairgrounds, 12:30 PM, 308-324-5501
Dec. 9 2013, Auburn, 4-H Bldg. on Fairgrounds, 9:00 AM, 402-274-4755
Dec. 9 2013, McCook, Fairgrounds, 1:00 PM, 308-345-3390
Dec. 9 2013, Syracuse, First National Bank, Downtown, 1:30 PM, 402-269-2301
Dec. 9 2013, Imperial, Fairgrounds, 6:00 PM, 308-882-5246
Dec. 10, 2013, Wilber,  Lutheran Church Hall,  1:00 PM, 402-821-2151
Dec. 10, 2013, Gering, Gering Civic Center, 9:00 AM, 308-632-1260
Dec. 10, 2013, Sidney, Holiday Inn, 1:30 PM, 308-254-4455
Dec. 10, 2013, York, 4-H Building, 6:30 PM, 402-362-5508
Dec. 11, 2013, David City, Hruska Library, 9:00 AM, 402-367-7410
Dec. 11, 2013, North Platte, Lincoln County Extension/WCRDC, 6:30 PM, 308-532-2683
Dec. 11, 2013, Hastings, Fairgrounds, 6:30 PM, 402-461-7209
Dec. 12, 2013, Fairbury, North Room, Fairgrounds Bldg., 1:00 PM, 402-729-3487
Dec. 12, 2013, Kearney, Extension Office, Fairgrounds, 6:30 PM, 402-236-1235
Dec. 16, 2013, Norfolk, Lifelong Learning Center, 9:00 AM, 402-370-4040
Dec. 17, 2013, Oshkosh, Wesleyan Church, 1:30 PM, 308-772-3311



Gifts Create Modern Agricultural Commodities Trading Room at UNL

            Students who want agricultural commodities trading experience will soon get the real-time and hands-on training they need at the University of Nebraska-Lincoln's Agricultural Economics Commodities Trading Room.

            Gifts to date of $682,500 made to the University of Nebraska Foundation support a current fundraising initiative aimed at creating a state-of-the-art commodities trading room within the Department of Agricultural Economics. Located in Filley Hall on East Campus, the facility will be designed to give students real-time commodity marketing experience and advanced training in markets, merchandising, futures and options.

            With the education of future generations of agricultural economists and business professionals in mind, the university's corporate partners have been especially helpful in funding the new facility. The following organizations have provided support:
            – CHS Foundation, the charitable arm of CHS, a global energy, grains and foods system company, donated $150,000.
            – CoBank, a national cooperative bank serving industries across rural America, donated $150,000.
            – Archer Daniels Midland Company (ADM), a world-leading agricultural processor, donated $100,000.
            – Cargill, an international producer and marketer of food, agricultural, financial and industrial products and services, donated $100,000.
            – Nebraska Soybean Board funded $70,000.
            – Nebraska Corn Board funded $50,000.
            – The Andersons Inc. Charitable Foundation, the charitable arm of The Andersons, a diversified agribusiness and logistics firm, donated $30,000.
            – The Scoular Foundation, charitable arm of The Scoular Company, an agricultural marketing company located across North America, donated $30,000.
            – Nebraska Wheat Board funded $2,500.

            Gifts made for the trading room go to purchase needed technology such as interactive presentation screens and Smart Boards, projectors and screens, interactive control systems and audio and video equipment. It also provides funds for future updates and software.

            "We are extremely thankful for each of our donors and corporate sponsors who have stepped forward to help with this important project," said Larry Van Tassell, head of the Department of Agricultural Economics. "For years to come, this support will ensure students who pursue the commodities trading option receive the education and hands-on experience they need."

            Supervised by agricultural economics faculty, the trading room will allow students to develop and test trading strategies, merchandize commodities, and develop risk management plans in a dynamic, real-time learning environment. It will also provide students and faculty the ability to conduct research in these areas.

            The trading room will feature individual computer work stations loaded with the latest analytical and simulation software, connected to a market exchange, with each station having multiple monitors. The room will also feature smart boards for instruction on key topics related to commodities trading.

            "The more realistic the educational environment, the more relevant the education will be," Van Tassell said. "In short, it will give our students a real-time education."

            The trading room will also be used for outreach training programs and training events for producers, merchandizers and commodity traders.

            Until now, UNL students interested in commodities trading have used marketing simulation games to experience commodities trading. While it provided a good educational experience before, giving students the opportunity to learn in a real-time commodities market with professional analytical software provides better education and makes UNL one of only a few agricultural economics programs offering a commodities trading room for students.

            Van Tassell said the fundraising initiative also includes seeking donations for a permanent endowment that will provide ongoing support for maintaining the trading room as well as provide annual student scholarships and awards for student travel and activities.

            To make a gift to the Agricultural Economics Commodities Trading Excellence Fund, go to nufoundation.org/agecon. For information and to learn about other ways to give, contact Ann Bruntz or Kaye Jesske at the University of Nebraska Foundation at 402-458-1100 or 800-432-3216.

            The gifts for the commodities trading facility also provide support to the University of Nebraska's current fundraising initiative, the Campaign for Nebraska: Unlimited Possibilities, and a top priority to increase support for agriculture and life sciences programs.

            The University of Nebraska Foundation is an independent, nonprofit organization raising private gifts to support the University of Nebraska for more than 77 years. In 2013, donors provided the university with $236.7 million for scholarships, medical and other research, academic programs, faculty support and facilities. The foundation's comprehensive fundraising campaign, the Campaign for Nebraska, has raised more than $1.5 billion for the university and concludes in 2014. For more information, visit campaignfornebraska.org.



Iowa Pork Industry Center Sets PQA Plus 2.0 Advisor Session

Veterinarians and others in Iowa’s pork industry have the opportunity to become Pork Quality Assurance Plus® 2.0 Advisors at a session offered at Iowa State University by the Iowa Pork Industry Center. The initial certification process requires attendance at a daylong training session and passing an exam at the conclusion of that session.

This session, set for Tuesday, Nov. 26, will be led by Iowa State faculty members who are certified PQA Plus 2.0 trainers: James McKean, IPIC associate director and extension swine veterinarian, and Tom Baas, animal science professor at Iowa State.

The training will be held in the Ensminger Room in Kildee Hall on the Iowa State campus, beginning with registration at 8:30 a.m. and the session at 9 a.m. The session ends with successful passing of an open-book test following the educational portion.

There is a 15-person minimum and a 30-person maximum, and registration deadline is Nov. 15 or when the session is filled. No walk-ins are allowed and individual spots are not guaranteed until specific payment is accepted by IPIC. Initial certification is $75 per person and will be due upon notification of approval. Refreshments, lunch and all materials are included in the fee.

“Those who wish to become certified for the first time should complete and submit the application form for the Nov. 26 date soon to enable adequate time for evaluation of the application,” McKean said.

To be eligible to submit an application, people must meet the following qualifications and include the information on the application form:
-    Be a veterinarian, extension specialist or ag educator (defined for this program as a person who spends full time in adult education or at least half time in production training) AND
-    Have a D.V.M. or B.S. in animal science (or equivalent) AND
-    Have two years of recent documentable swine production experience.

The application can be downloaded from this the IPIC website at http://www.ipic.iastate.edu/pqaplus2.html.



2013 Farm Bill Conferees Set First Meeting for Oct. 30

After years of work and more twists and turns than anyone ever anticipated, conferees for a 2013 Farm Bill are set to hold their first meeting Wednesday, Oct. 30, at 1 p.m. in Washington. The 41 members of the conference committee, led by House Agriculture Committee Chairman Frank Lucas (R-Okla.) and Senate Agriculture Committee Chairwoman Debbie Stabenow (D-Mich.), will begin their public work with opening statements, which could last several hours. It’s widely expected that conferees will have come to agreements on as many relatively minor issues as possible outside of the public eye and before official work begins. However, the biggest sticking points remain: Title I programs, dairy assistance and spending on the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps. The latter of these could be the biggest impediment to a deal; the House-passed version of the farm bill included $40 billion in SNAP cuts, while the Senate-passed version included $4 billion in cuts. Unless they work swiftly, the calendar will also soon become an enemy of conferees. Just nine weeks remain in 2013, several of which will be consumed by holidays, and both chambers will soon also face decisions on fiscal priorities including FY2014 spending beyond Jan. 15. The first meeting of the conference committee will be webcast via the Agriculture Committee websites.



Researchers Track PEDV Origin to China

Researchers at the Virginia-Maryland Regional College of Veterinary Medicine at Virginia Tech Tuesday announced they have traced porcine epidemic diarrhea virus to a strain from the Anhui province in China using virus strains isolated from the ongoing outbreaks in Minnesota and Iowa.

Dr. X.J. Meng, University Distinguished Professor of Molecular Virology, said the virus affects nursery pigs and has many similarities with transmissible gastroenteritis. The virus was first recognized in the U.S. in May, and has since led to infections in at least 17 U.S. states.

The researchers determined not only that the three U.S. strains of the porcine epidemic diarrhea virus are most closely related to the Chinese strains of the virus, but also that the U.S. strains likely diverged two or three years ago following an outbreak of a particularly virulent strain in China.

Researchers continue to look for answers after May PED virus outbreak in U.S. swine herdsResearchers continue to look for answers after May PED virus outbreak in U.S. swine herds

According to the researchers' study in the Oct. 15 issue of the American Academy of Microbiology's journal, the U.S. strains of the virus share 99.5% of their genetic code with their Chinese counterpart. Meng said it is unclear whether the U.S. strains of the virus diverged in China or in the United States.

Researchers have continued to find no evidence that the virus can spread to humans or pose a threat to food safety, however they determined that the U.S. strains share several genetic features with a bat coronavirus. That finding points to an evolutionary origin from bats and the potential for cross-species transmission, a VT news report said.

Though commonly accepted that the virus spreads through the fecal-oral route, Meng said scientists have not yet ruled out the possibility of other transmission routes. He recommends that veterinarians work to recognize the symptoms of the disease, since no vaccine is available.

"Practicing strict biosecurity and good sanitation procedures on the farm are important for prevention and control of this deadly disease," Meng said.



NASS Announces Changes to November Crop Production Report

USDA’s National Agricultural Statistics Service (NASS) will publish information in the November 8th Crop Production report that was originally scheduled for release in the October report. This includes:
-    Potential updated planted and harvested acreage for dry edible beans, canola, corn, sorghum, soybeans, and sunflower;
-    Revised peanut and sunflower acreage, yield and production for 2012; and
-    Indicated 2013/2014 production forecasts for citrus fruits as of November 1.

As in past years, the November Crop Production report will include: indicated area harvested, yield and production forecasts as of November 1 for corn for grain, cotton, rice, sorghum for grain, soybeans for beans, peanuts for nuts, sugarbeets and sugarcane for sugar and seed; indicated cottonseed production; planted acres, indicated area harvested, yield and production forecasts of fall potatoes; indicated area planted, harvested, yield and production forecasts for dry edible peas, Austrian winter peas, and lentils; percent of 2013 fall potatoes planted by variety; and indicated U.S. production of rice by class. Also included in the report is objective survey data for selected states which include, corn plant population, number of ears, row width distribution and percent of samples processed in the lab; soybean row width distribution, number of pods with beans per 18 square feet and percent of samples processed in the lab; cotton cumulative large boll counts; and number of samples and average number of hills per acre for fall potatoes.

Forecasts for several crops originally scheduled for release in October will not be included in the November report.  These include harvested area, yield and production forecasts for hay and tobacco, as well as yield and production forecasts for canola, dry edible beans, and sunflowers. Estimates for these crops will be included in the 2013 Annual Crop Production report scheduled for release in January 2014.



Biodiesel Production Tops 1 Billion Gallons

New EPA statistics released Thursday show the biodiesel industry has cracked the 1 billion gallon mark for the third consecutive year, with several months of production remaining.

“This is a tremendous achievement that is a testament to the hard work of the biodiesel industry and the success of the Renewable Fuel Standard (RFS) as an effective policy for diversifying our fuel supplies,” said Anne Steckel, vice president of federal affairs at the National Biodiesel Board. “Biodiesel is proving that Advanced Biofuels are working now, and we need the Obama Administration and Congress to continue this success.”

Biodiesel is the first EPA-designated Advanced Biofuel to reach commercial-scale production nationwide and 1 billion gallons of annual production. With plants in almost every state in the country, the industry has surpassed RFS targets since the program began while using an increasingly diverse mix of resources such as recycled cooking oil, soybean oil and animal fats.

The latest production figures, which cover volumes reported through September, show that the industry produced 140 million gallons in September, for a year-to-date biodiesel total of nearly 1.1 billion gallons.

EPA’s production volumes are reported under the Biomass-based Diesel category of the RFS. To view the figures, visit the EPA's website here. The monthly numbers show a total of nearly 167 million gallons under the Biomass-based Diesel category for the month of September. That total includes some 27 million gallons of renewable diesel, a diesel replacement similar to biodiesel that uses a different technology.

For the year, total Biomass-based Diesel production under the RFS stands at more than 1.2 billion gallons, on pace to reach some 1.7 billion gallons by year’s end, significantly exceeding the RFS requirement of 1.28 billion gallons.



Algeria: Council Success Yields Growing Results

In September an Algerian commercial importer made the first ever purchase of U.S. distiller's dried grains with solubles (DDGS) and corn gluten feed (CGF) into Algeria. This was made possible in part by U.S. Grains Council efforts that led to the successfully removal in September 2012 of the value added tax (VAT) and custom tax on all feed imports in Algeria, including DDGS and CGF.

That initial purchases has led to additional purchases of DDGS by Algerian feed millers. USGC Director for the Middle East and Africa Cary Sifferath expects these sales to grow into regular purchases around 10,000 to 20,000 metric tons of DDGS and CGF combined annually.

"Products like DDGS and CGF were included in a list of feed ingredients that have had their import duties and VAT reduced to zero until August 2014 through continuous efforts by the Council and support from our allies," Sifferath said. "The Council still sees more opportunities for U.S. corn co-products like DDGS and CGF in the future as the market continues to develop."

Since DDGS and CGF in the past were not used in Algeria, there is a lack of knowledge on how to use DDGS and CGF in poultry and ruminant diets. The Council is coordinating its policy work with an effort to educate Algerian end-users about the proper utilization of DDGS and CGF.



Council Breaking Bottleneck for US DDGS in Peru

A new Memorandum of Understanding (MOU) – effective Nov. 1, 2013 – between the U.S. Grains Council and Gloria, the largest and most progressive milk processor in Peru, will help Gloria overcome the major logistical bottleneck to expanding U.S. distiller's dried grains with solubles (DDGS) use in Peru's dairy industry.

Currently, Gloria is the only Peruvian importer of U.S. DDGS. Through participation in Council programs, Gloria determined that Peruvian dairies could benefit tremendously from utilization of DDGS in rations, which Gloria began importing. As a dairy processor, Gloria is not a feed manufacturer nor involved in raw material distribution to local dairies, and in the past, DDGS imports by Gloria did not flow smoothly to the end users.

The MOU with the Council will bring together Gloria and two major raw material suppliers for the dairy sector in a joint DDGS marketing effort. The Council will provide technical support and marketing to promote DDGS use to customers of these two warehouses with the goal of increasing the consumption rate of DDGS by the dairy sector. If successful the dairy sector will increase its use 300 percent, with the longer-term target to eventually achieve a 500 percent increase compared to the current market.

"The Council is a catalyst, a 'matchmaker' with unique capabilities to bring together various players in the marketing chain that otherwise do not know how to find each other," remarked Kurt Shultz, USGC regional director for the Americas. "In this case we are helping Gloria, the current only importer of DDGS in Peru, to reduce the cost of storing and transporting DDGS, thereby helping Gloria expand its effectiveness in marketing DDGS to Peruvian dairy farmers."

In this MOU the Council agreed initially to help Gloria develop ties with two independent warehouses. But already Gloria has asked the Council to accelerate the timeline to add a third warehouse partner within six months.

The Peruvian dairy industry has been accepting of DDGS in feed rations and is the immediate focus of Council efforts, however it only represents 20 percent of the long-term market potential for DDGS in Peru. The Council believes that Peru has a long-term potential to use 350,000 metric tons of DDGS, with the poultry and swine sectors representing 80 percent of this future demand. The dairy sector is currently leading the way and will hopefully open the doors for imports by the poultry and dairy sector in the near future.

"2013-14 should be an excellent year for U.S. DDGS and corn exports to Peru," Shultz said. "The abundant U.S. corn crop and a lower corn price is making U.S. corn very competitive in this market. In fact, under the U.S. – Peru Free Trade Agreement the United States has a duty-free quota for 660,000 metric tons (26 million bushels) of corn and there is no duty on U.S. corn co-products. More than 180,000 metric tons (7 million bushels) of U.S. corn has already been purchased and the Council anticipates more purchases to come. Promoting U.S. corn and DDGS is part of our strategy to recapture U.S. market share in this vital corn importing market."



Open for Business
John Michael Riley, Asst. Extension Professor
Department of Agricultural Economics, Mississippi State University

Since the previous In the Cattle Markets was released the U.S. government shutdown has ended and federal employees are back at the grind. A few of the more prominent National Agricultural Statistics Service (NASS) October reports scheduled for release during the shutdown were canceled (most notably the World Agricultural Supply and Demand Estimates and Crop Production report). Others like the Cattle on Feed report, to be released after the shutdown, have been delayed. Price and production data available via the Agricultural Marketing Service will not forever be a blank spot on the record books as had been speculated.

So now what? So much has already been discussed in this space and elsewhere regarding the shutdown and its impact on the beef industry. As John Anderson noted two weeks ago in this spot, we in agriculture are spoiled when it comes to availability of data and many had to seek private resources for this information. Never the less, cash markets still operated, transactions took place, and buyers and sellers bought and sold.

On a mildly related note, the devastating news of the storm in South Dakota that impacted producers was taking shape at the same time as the shutdown. Also, trade issues were surfacing related to zilpaterol and a potential bin busting corn crop was in the midst of harvest.

So, as has been the case so often in the past few years, information continues to move at lightening speeds. As I survey producers in Mississippi and surrounding states I am constantly surprised by the number that have smartphones and other handheld devices (I'm sure you are aware of the increasing age of beef cattle producer, right?). So, it seems fitting that at a time when information is moving so rapidly, to have a huge chunk of the public portion of this information come to screeching halt must have had far reaching effects. While we will not have the analytical answer to this immediately, taking a quick pass at the market pre-, during-, and post-shutdown it appears that the answer is... "meh." Both live and feeder cattle futures appeared to have an immediate love affair with the news of data returning only to see the sparks fizzle mid-day on October 17, but for the most part markets trended higher throughout the entire process.



DuPont Pioneer Expands Availability of Pioneer® Brand T Series Soybeans for 2014

DuPont Pioneer announces expanded availability of 40 Pioneer® brand T Series soybean varieties for 2014 planting. The broad range of high-yielding varieties available for 2014 planting have been targeted to meet specific grower needs and matched to local environments.

“Growers are asking for soybeans that will maximize yield in conditions and challenges specific to their fields,” says André Trépanier, DuPont Pioneer senior marketing manager – soybeans. “T Series soybeans are an answer to growers’ demands, providing high yield potential matched with an extensive package of agronomic and defensive traits tailored to local geographies.”

“For example, available T Series soybean varieties for Iowa growers provide above average tolerance against sudden death syndrome (SDS) as well as protection against white mold where needed,” explains Trépanier. “In Nebraska, the Dakotas and into Canada, available varieties provide growers protection against iron chlorosis and soybean cyst nematode (SCN).”

Below are notable varieties in the T Series soybean product lineup, which have already passed local research and product testing.

-    P19T60R (RR) – A late group I variety that features strong agronomic characteristics while still delivering top-end yield potential. It has the 1c gene for Phytophthora resistance in addition to favorable field tolerance. It also carries SCN protection and respectable tolerance to iron chlorosis and SDS.
-    P22T69R (RR) – A group II variety with exceptional yield potential. Peking source SCN resistance, 1k Phytophthora resistance and solid agronomic traits all come together in this star product.
-    P24T19R (RR) – This mid-group II variety is a widely adapted product. It features SCN and Phytophthora resistance plus good tolerance to SDS and iron chlorosis.
-    P32T80PR* (Plenish/RR) – An early Group III maturity product with the Plenish® high oleic oil trait for contract production. Yield potential is comparable to other Pioneer varieties.  Displays SCN resistance, good standability and canopy width traits.
-    P35T58R (RR) – This product brings outstanding yield potential along with sound agronomic and defensive traits for growers looking for a mid-group III maturity soybean
-    P47T36R (RR) – This mid-late Group IV maturity product features outstanding SCN resistance, standability and the stem canker resistance gene as well as good tolerance to sudden death syndrome.

As final product advancements are made this fall, additional varieties will join the lineup for 2014 planting. This expanded lineup will also include products with the Genuity® Roundup Ready 2 Yield® trait.

Pioneer provides a broad range of soybean variety options with top-end yield potential plus strong agronomic and defensive traits. To help maximize your investment, Pioneer recommends adding Pioneer Premium Seed Treatment (PPST). With the addition of PPST, Pioneer brand soybean varieties are fully loaded, protecting the genetic package and providing an extra level of protection against early-season insects and diseases.

“Pioneer brand T Series soybeans provide growers with the total package, including product testing, yield potential and native trait protection, all backed by an extensive Pioneer sales and agronomy force,” Trépanier says.



DuPont Delivers 3Q 2013 Operating Earnings of $.45 per Share

DuPont announced third quarter 2013 operating earnings of $.45 per share compared to $.43 per share in the prior year. GAAP earnings from continuing operations were $.28 per share versus a loss of $.05 per share for the third quarter 2012. Third quarter results principally reflect overall top-line growth and earnings improvements for Performance Materials, Electronics & Communications and Safety & Protection, and a lower effective tax rate. This was offset by expected lower earnings for Performance Chemicals.

Highlights include:
-- Third quarter net sales of $7.7 billion increased 5 percent, with volume up 9 percent versus a weak prior year. Sales also reflect 3 percent lower local prices and a 1 percent negative currency impact.

-- Excluding Performance Chemicals, all operating segments posted increased operating earnings versus last year. Performance Materials, Electronics & Communications, Safety & Protection and Industrial

-- Biosciences had double-digit earnings growth reflecting higher volumes and improved margins.

-- Agriculture sales grew 15 percent driven by increased insecticide volumes and higher seed prices in Latin America. The sales growth and the benefit of increased ownership in Pannar Seed (Pty) Ltd. reduced the segment's third quarter seasonal loss to $62 million.

-- Cost productivity gains and restructuring savings are on track to meet or exceed full-year targets.

-- The company continues to expect full-year operating earnings of about $3.85 per share.

"We executed well against our plans. Third quarter sales volumes and operating earnings were stronger across most businesses compared to a soft quarter last year," said DuPont Chair and CEO Ellen Kullman. "While we expect overall sequential growth in industrial market demand will remain subdued, fourth quarter operating earnings will be up substantially from last year. For the full year we are on track to deliver modest earnings growth, despite the significant decline in Performance Chemicals' results."

Third quarter 2013 net sales were $7.7 billion, up 5 percent versus last year, reflecting 9 percent higher volume, partly offset by 3 percent lower local selling prices and 1 percent negative currency impact.

The following is a summary of business results for each of the company's reportable segments in the third quarter comparing the current quarter with the prior year. References to selling price are on a U.S. dollar basis, including the impact of currency.

Agriculture -- A seasonal operating loss of $62 million improved $8 million. The improvement was driven by strong insecticide demand as growers anticipate heavy insect pressure in Latin America, price improvement in seeds, and a $26 million gain resulting from the acquisition of a controlling interest in Pannar. These increases were offset by higher seed costs reflecting finalization of the northern hemisphere season, continued investment to drive future growth and a negative currency impact.

Electronics & Communications -- Operating earnings of $97 million increased $39 million driven by higher sales volume, mainly in photovoltaic markets reflecting demand improvement and share gains. Higher volume was offset in part by reduced selling prices, mainly from pass-through of lower metals prices.

Industrial Biosciences -- Operating earnings of $45 million were up 13 percent on higher sales of Sorona polymer for carpeting and apparel and lower costs, partially offset by higher raw material costs.

Nutrition & Health -- Operating earnings of $81 million increased 5 percent reflecting productivity improvements, partially offset by higher cost guar inventory and negative currency.

Performance Chemicals -- Operating earnings of $254 million were $159 million lower as price declines for titanium dioxide, refrigerants and fluoropolymers, along with higher raw material inventory costs, principally ore costs, more than offset volume increases. Titanium dioxide volume was up 25 percent from third quarter 2012 and essentially flat on a sequential basis.

Performance Materials -- Operating earnings of $374 million increased $43 million including a $30 million benefit from a joint venture. Earnings improvement from higher volume reflecting increased demand in packaging, automotive, and electronics markets was partially offset by lower selling prices.

Safety & Protection -- Operating earnings of $171 million increased $24 million due primarily to higher volume and productivity improvements, partially offset by weaker sales mix. Higher volume reflects increased demand for U.S. ballistics military protection, protective garments, and construction products that offset softness in global public sector spending.

Additional information is available on the DuPont Investor Center website at http://www.investors.dupont.com.

The company continues to expect full-year operating earnings of about $3.85 per share, with some changes in underlying assumptions. The company now anticipates slightly lower full-year growth rates for global GDP and industrial production, a larger negative currency impact and a lower base tax rate of about 22 percent.



Potash's Third-Quarter Profit Sinks 45%

Potash Corp. of Saskatchewan, the world's largest potash miner by capacity, posted a 45% drop in third-quarter profit, saying the market went into paralysis after the break-up of one of the sales partnerships that had underpinned a de facto cartel for this key fertilizer ingredient.

Underscoring the uncertainty, the Saskatoon, Saskatchewan-based company reduced its 2013 earnings guidance for a second time this year, to between $2 and $2.20 a share from its most recent forecast of $2.45 to $2.70 a share. That move took many analysts by surprise.

Potash Corp. said key potash buyers, like India and China, are holding back on purchases, causing the price of potash to fall to $307 per metric ton from $429 in the same quarter a year earlier. Russian miner OAO Uralkali predicted a similar 25% decline in the price of potash in July after announcing it was leaving its partnership with Belaruskali, one of two sales partnerships that together controlled two-thirds of the nearly $22 billion potash market.



Bunge Swings to 3rd-Quarter Loss as Revenue Slides

Bunge Ltd. swung to a third-quarter loss as the company recorded a drop in revenue and disappointing sugarcane milling results.

"Our Brazilian milling operations, however, continued to face suboptimal weather and low global sugar prices, as well as the structural headwinds of domestic cost inflation and capped ethanol prices," said Chief Executive Soren Schroder, adding that as such, the company has reduced its outlook for that segment for the fourth quarter and full year.

One of the largest grain handlers in the world, White Plains, N.Y.-based Bunge buys, sells, stores and transports oilseeds and grains to customers world-wide. It processes seeds for protein meal for animal feed and oil products for customers.

For the latest period, Bunge reported a loss of $120 million, or 94 cents a share, compared with a profit of $297 million, or $1.92, a year earlier. The latest period included after-tax charges of $415 million that reduced net income from continuing operations by $546 million and increased net income from discontinued operations by $132 million. Excluding certain gains and charges and discontinued operations, the company recorded adjusted per-share earnings from continuing operations of $2.05 compared with $2.07 a share a year ago.

Sales fell 11% to $14.7 billion.  Gross margin narrowed to 4.7% from 5.1%.  Sales at the agribusiness segment, by far the company's largest business by revenue, fell 11%. Sales from the sugar and bioenergy business posted a 26% decline. Edible oil products sales fell 7.1%.

Looking ahead, Chief Financial Officer Drew Burke said the agribusiness segment should have a "strong" fourth quarter, while the food and ingredient's momentum is expected to continue in the current quarter as well. However, sugarcane milling will continue to be challenged, he said.



Novozymes reports 6% organic sales growth after 9 months

Novozymes, the world’s largest producer of industrial enzymes, today reported 9 months sales and earnings in line with expectations. Organic sales growth was 6% (5% DKK, 7% LCY), EBIT grew by 6%, net profit by 8%, and the EBIT margin increased by 0.4 percentage point to 25.0% compared with the first 9 months of 2012.

The full-year 2013 outlook is narrowed within the existing ranges following a 9 months performance in line with expectations and to reflect the unfavorable development in exchange rates since previous guidance. Organic sales growth is now expected at 5-7%, sales growth in local currency at 6-8% and sales growth in DKK at 3-5%. EBIT growth is now expected at 4-5%, and the outlook for EBIT margin has increased to 24-25%. Net profit growth is now expected at 7-8%.

“Our performance has continued in line with what we had expected in these first 9 months, and our full-year expectations have been narrowed to reflect performance and also the fact that currencies unfortunately continue to work against us”, says Novozymes CEO Peder Holk Nielsen. “I'm pleased to see that all sales areas are contributing to growth. Household Care and BioAg have done well, and we're currently seeing strong momentum in Bioenergy due to fantastic innovation, which saves both corn and energy for our customers. On the earnings side we’re in good shape, and we’ve been able to take margins slightly higher compared with the first 9 months of 2012. I'm excited to see our customers and partners advance cellulosic ethanol around the world, and our new collaboration with Raízen in Brazil offers many interesting perspectives in an important region for this industry.”