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Business Briefs - May 4, 2011

Soy, ag comm groups donate for Japan relief

ST. LOUIS, Mo. — The United Soybean Board (USB), which represents nearly 600,000 U.S. soybean farmers, will help Japanese small businesses that wish to donate food to those in need after multiple disasters in that country.

The soybean checkoff plans to help Japanese companies, including soyfood processors, suppliers and distributors, donate soy-based food to people affected by the recent earthquake and resulting tsunami and nuclear disasters.
Seventy percent of Japanese soybean imports originate from the United States. Japan is U.S. soybean farmers’ third-largest international trading partner. The checkoff’s representatives who live and work in Japan will administer the program and the U.S. Soybean Export Council will help bring together the small businesses that wish to donate, and soybean checkoff funds that will support those donations.

Also, North American agricultural communications organizations have united to provide relief to rural Japanese people affected by the recent earthquake and tsunami disaster. Thus far, more than $9,000 has been raised from the following: Agricultural Communicators of Tomorrow, Agricultural Media Summit LLC, Agricultural Relations Council, American Agricultural Editors’ Assoc., American Business Media Agri-Council, Canadian Farm Writers Federation, Livestock Publications Council, National Agri-Marketing Assoc., National Assoc. of Farm Broadcasters and North American Agricultural Journalists.

In addition, each group will be soliciting donations by individual members to gain additional funding for Japanese relief. The funds raised will be provided to the Japanese Agricultural Journalists Assoc. (JAJA) and specifically earmarked for rural areas.

Bayer Q1 net up 8.4 percent, raises outlook
FRANKFURT (AP) — Chemical and drug company Bayer AG said net profit rose 8.4 percent to $684 million in the first quarter and it is raising its outlook for the year.

The company said Thursday its businesses in high-tech materials and farm chemicals did better compared with the same quarter a year ago, when the economy was still hampered by the financial crisis. Sales rose 13.2 percent to $9.4 billion.

The company raised its forecast for both sales and earnings. Bayer is based in Leverkusen, Germany.

POET Alexandria earns Operational Excellence award
SIOUX FALLS, S.D. — Team members at POET Biorefining-Alexandria have earned the company’s “Operational Excellence” award. The plant was recognized as the top performer among all of POET’s 27 plants nationwide because of excellence in operations, maintenance and commodities programs.
“Winning this award was definitely a team effort,” General Manager Dave Hudak said. “We could not have achieved this milestone without the dedication to excellence by each one of our team members. I’m extremely proud to be associated with such a talented group.”

Fort Dodge ethanol plant gets boost from state
FORT DODGE, Iowa (AP) — The planned Cargill, Inc. corn milling operation west of Fort Dodge has been awarded a $2 million loan and tax credits worth up to $603,000 from the Iowa Economic Development Board.

The Department of Economic Development says half of the loan will be forgiven and the other half will be repaid over five years with no interest. The tax credits will come in the form of a refund of sales, service and use taxes paid during construction.

Cargill, based in Minneapolis, Minn., bought the unfinished Tate & Lyle corn ethanol plant in March for $57 million, according to The Messenger of Fort Dodge. The plant is expected to employ 104 people and begin operating in 18-24 months.

Cargill spokeswoman Nicole Reichert said the plant will make 115 million gallons of ethanol annually.

Farm Bureau support of Feeding America breaks records
WASHINGTON, D.C. — The farm and ranch families of Farm Bureau last year raised more than $273,000 and donated more than 18 million pounds of food to hungry Americans as part of Farm Bureau’s “Harvest for All” program through Feeding America. Combined, the monetary and food donations provided the equivalent of more than 16 million meals.

The money raised, food donated and meal equivalents in 2010 all shattered program records. The Harvest for All Program was established in 2003. The food donated by Farm Bureau families in 2010 was nearly three times as great as the 6.7 million pounds donated in 2008, the previous record. The $273,000 surpassed the 2009 level of $213,000, and the number of meal equivalents exceeded the previous high of 6.4 million, also set in 2008.

Since Harvest for All was launched eight years ago, Farm Bureau families have gathered more than 38 million pounds of food, logged more than 49,000 volunteer hours and raised more than $1.2 million in donations. Combined, the food and money donations amount to more than 39 million meals.

Southern Illinois Power Co-op partners with Gypsoil

MARION, Ill. — Southern Illinois Power Cooperative (SIPC) has signed an agreement with the Gypsoil Division of Beneficial Reuse Management LLC (BRM) to market gypsum (calcium sulfate) produced at SIPC’s coal-fired utility plant, here. The product is marketed as Gypsoil brand gypsum.

Gypsoil is used by Midwestern agricultural producers to loosen tight clay soils.  Over time, applying Gypsoil neutralizes the metals and chemical salts that bind to clay particles and cause poor soil structure.

5/4/2011