The South Dakota meat processor that sued ABC News over the characterization of its top-selling product as "pink slime" in TV news reports has set up a $10 million fund to help former employees and communities affected by the plants it closed in 2012, it said on Wednesday. The privately held Beef Products Inc sued ABC, a unit of Walt Disney Co, in 2012, saying ABC defamed the company by using the term “pink slime” and accusing it of making errors and omissions in its reporting.
CHICAGO - Monsanto Co invited dozens of weed scientists to a summit this week to win backing for a controversial herbicide but many have declined, threatening the company's efforts to convince regulators the product is safe to use. Monsanto faces a barrage of lawsuits over its dicamba herbicide and risks of tighter restrictions on its use, after the chemical drifted away from where it was sprayed this summer and damaged nearby crops unable to tolerate it.
CHICAGO - Monsanto Co pushed Arkansas on Thursday to allow farmers to spray crops with the company's dicamba herbicide, linked to damage on plants across the U.S. farm belt. In July, Arkansas temporarily banned the use and sale of dicamba after farmers complained the herbicide was drifting away from where it was sprayed and hurting crops that could not withstand it. Arkansas previously had blocked Monsanto's dicamba herbicide, XtendiMax with VaporGrip, because the company did not provide testing data that state officials wanted. A dicamba herbicide from BASF was approved.
The U.S. environmental agency is considering banning sprayings of the agricultural herbicide dicamba after a set deadline next year, according to state officials advising the agency on its response to crop damage linked to the weed killer. Setting a cut-off date, possibly sometime in the first half of 2018, would aim to protect plants vulnerable to dicamba, after growers across the U.S. farm belt reported the chemical drifted from where it was sprayed this summer, damaging millions of acres of soybeans and other crops.
CHICAGO - An Arkansas task force has advised the state to bar sprayings after April 15 next year of agricultural herbicides containing the chemical dicamba, which has been linked to crop damage across the U.S. farm belt, a state spokeswoman said on Friday. The recommendation aims to protect plants vulnerable to the chemical and, if adopted, would prevent most Arkansas farmers from spraying dicamba weed killers on growing soybeans, a key selling point for products manufactured by Monsanto Co, BASF and DuPont.
NEW YORK - Gasoline futures surged 10 percent on Thursday, Aug. 31, as almost a quarter of U.S. refining capacity remained offline and traders scrambled to reroute millions of barrels of fuel, while oil prices rose nearly 3 percent. U.S. gasoline futures have rallied roughly 26 percent from the previous week to a two-year high above $2 a gallon, buoyed by fears of a fuel shortage days ahead of the Labor Day weekend that typically brings a surge in driving.
CHICAGO - With Monsanto Co's latest flagship weed killer, dicamba, banned in Arkansas and under review by U.S. regulators over concerns it can drift in the wind, farmers and weed scientists are also complaining that confusing directions on the label make the product hard to use safely. Dicamba, sold under different brand names by BASF and DuPont, can vaporize under certain conditions and the wind can blow it into nearby crops and other plants. The herbicide can damage or even kill crops that have not been genetically engineered to resist it.
CHICAGO - Chicago Board of Trade wheat futures fell about 1 percent to life-of-contract lows on Thursday, Aug. 17, weighed down by investment fund short selling and abundant global supplies, traders said.
NEW YORK - As the U.S. growing season entered its peak this summer, farmers began posting startling pictures on social media: fields of beans, peach orchards and vegetable gardens withering away. The photographs served as early warnings of a crisis that has damaged millions of acres of farmland. New versions of the herbicide dicamba developed by Monsanto and BASF, according to farmers, have drifted across fields to crops unable to withstand it, a charge authorities are investigating.
An advanced weed-killing chemical has twice come back to haunt Arkansas farmer John Weiss. The herbicide, known as dicamba, has long been employed in the United States to kill weeds before fields were planted, but its use spiked after regulators last year approved a new formulation that allowed farmers to apply it to growing plants. That should have been good news for Weiss and hundreds of other farmers, who planned to use it to control hard-to-kill weeds in fields planted with crops bioengineered to survive the chemical.