| UPDATE: Ethanol Growth Cools, But US Farmers Are Still In The Green
NEW YORK (Dow Jones) - Slower domestic ethanol growth and potentially less corn acreage next year won't hurt the wallets of U.S. farmers as international demand for grain remains at high levels, said Geoff Cooper, director of ethanol and business development with the National Corn Growers Association. "The weakness of the dollar has driven strong corn export demand," Cooper said. "However, farmers are sitting down right now and figuring out what to grow based on revenue per acre, and soybean prices are very high right now." Cooper said he expects corn planting could lose 5 million to 6 million acres next year to soybeans, though corn will still be at historical highs with 87 million to 88 million acres. Earlier Wednesday, Deere & Co. (DE) trimmed its expectation for corn bushels earmarked for ethanol, leading to some pressure on its shares in morning and midday trading.
Airport Officials Investigating Apparent Crash Landing
ORLANDO, Fla. -- Airport officials are investigating what appears to have been a crash landing at Orlando Executive Airport. Orlando Fire Department officials responded to Orlando Executive Airport on Wednesday morning when a pilot landed on the runway, lost control and ended up in the grass. The pilot was not injured. The plane owned by Air Orlando received minor damage. .
Will Money Funds Finally "Break the Buck"?
When stock market jitters become too much for investors, they can always retreat to the safety of money funds. Yet even some of the safest places for your money are apparently at risk, as some money funds had invested in securities including subprime mortgages. .
FTSE losses accelerate
Leading shares extended their losses in morning trade, as investors moved out of the financial sector on renewed worries about exposure to the sub-prime lending market. Sentiment was also badly dented as J Sainsbury ended takeover talks. By lunchtime, the FTSE was down 72.8 points at 6,457.8 although at one stage it was down 101.7 points. Mid-cap stocks were also out of favour, and the FTSE250 index was off 123 points at 11,319. Trading volume was relatively weak however at �968m. .
BUSINESS IN BRIEF 21/11
The Phuong Nam Joint Stock Commercial Bank (Southern Bank) and a leading financial services company from the Republic of Korea on November 19 signed an agreement to work together to improve the financial activities of the local bank.
Seung Yu Kim, Hana's board chairman and chief executive officer, said Southern Bank had a strong network and excellent long-term strategies and objectives.
With a target to become a multifunctional financial group in Viet Nam and the region, Southern Bank wants to step up cooperation with local and foreign financial services giants, said a bank executive.
The bank's total asset values are 18 trillion VND (1.13 billion USD) on a gross outstanding debt of 4.74 trillion VND (296.3 million USD), with chartered capital of 1.29 trillion VND (80.6 million USD).
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