You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Business at a glance
    BioLife Plasma Services opened a new collection center at 1450 Getz Road in Fort Wayne. Choice Designs Inc.
  • Competition’s all global
    John D. Zeglis is brimming with words of business wisdom.And the retired chairman and CEO of AT&T Wireless Services is eager to share them with the next generation of business leaders.
  • Lending rate at lowest in 17 years
    U.S. mortgage lending is contracting to levels not seen since 1997 as rising interest rates and home prices drive away borrowers. Wells Fargo & Co. and JPMorgan Chase & Co., the two largest U.S.
Advertisement

Column: Drought worsens in the Plains

Breitinger

Those outside of the winter wheat growing region may not be thinking about the recent U.S. drought this time of year, but precipitation is desperately needed in order to recharge the aquifer and replenish subsoil moisture in Kansas, Nebraska, and North Texas.

This region is just west of the states that suffered from the worst dryness in recent history in the Corn Belt this past growing season.

The latest version of the Palmer Drought Index shows much of Kansas and Nebraska suffering from extreme drought conditions, with more than a nine-inch precipitation deficit. This area of North America produces hard red winter wheat used primarily for flour for breads.

Metals blast higher on Mideast unrest

Thousands of protestors rallied on Friday in Cairo, Egypt to protest Egyptian President Mohammed Mursi’s new declaration that presidential edicts cannot be repealed by anyone.

This new power play has shaken the newly formed democracy in Egypt and has made many Egyptians feel that there is little difference between Mursi’s new government and the government led by former Egyptian Leader Hosni Mubarak.

Also, just two days after the agreed-upon cease fire between Hamas and Israel in the Gaza Strip, new violence has erupted between the two adversaries.

Since gold is perceived to be a safe haven asset amongst investors, gold jumped $23 per troy ounce as of midday Friday. The uptick in violence and political uncertainties associated with Egypt and the Gaza Strip may have been the catalysts that sent gold higher.

A weak U.S. dollar and strong Euro currency further charged the buying of the yellow metal. Silver, copper and platinum joined gold in the thrust higher.

Advertisement