Grains, Seeds, Vegoils & Meals
Oct 21 - Asian Crude Palmoil Tad Up, Paring Thursday's Losses (Dow Jones)
Asian crude palm oil prices ended the session a tad higher, paring losses seen late Thursday
following the release of weaker-than-expected exports data. Even though exports are weaker, some analysts think that the sharply lower stock piles of palm oil will continue to support prices at the current high levels. The Bursa Malaysia benchmark 3-month contract was trading up 6 ringgit a ton at MYR2724 a ton.
Oct 21 - US Grains Council working to end Vietnam suspension of distillers' grain imports
The U.S. Grains Council is working with Vietnamese importers of distillers' dried grains with solubles (DDGS) to end the country's planned suspension of U.S. shipments of the protein-rich animal feed, according to a letter sent to council members and seen by Reuters on Thursday. Vietnam on Monday said it would suspend all imports of U.S. DDGS from mid-December due to contamination with the Ballion variety of beetle, according to a Vietnamese government directive also seen by Reuters. Media in the Southeast Asian nation reported the step earlier this week. Click here to read full stories.
Oct 21 - Strategie Grains cuts EU wheat harvest, export view, lifts maize crop
Consultancy Strategie Grains lowered again its estimate of European Union soft wheat production and exports this season due to adverse crop weather, but raised its outlook for the ongoing EU maize harvest. It put EU soft wheat production in 2016/17 at 135.8 million tonnes, down 600,000 tonnes from its previous monthly estimate and 10 percent below a record 2015 crop. Click here to read full stories.
Oct 21 - Canada harvest woes rally canola, turn some farmers into winners
As some Western Canada farmers watched rain and snow turn their ripening canola fields into bogs, Rob Stone could count his blessings. Harvest weather was kinder to his Davidson, Saskatchewan farm, and Stone finished harvesting canola by mid-September. Then, when worries about 4 million tonnes of canola remaining unharvested over winter rallied prices, Stone sold one-quarter of his crop for up to C$10.75 per bushel, well above his break-even point of around C$9. Click here to read full stories.
Oct 21 - Vegoil's recent market strength could have staying power - Braun
Investors holding long positions in vegoils should be happier than they were last week - and they could see even more returns in the coming months if global supply tightens further as expected. Benchmark Malaysian palm oil futures for January shot to the highest levels since April 5 on Monday in the contract’s strongest daily gain in over a year. Palm oil is the most heavily produced and consumed vegoil globally and is primarily cultivated in Malaysia and Indonesia. Click here to read full stories.
Oct 21 - Informa sees U.S. farmers planting more soy, less corn in 2017
Private analytics firm Informa Economics projected a 5.7 percent increase in U.S. soybean plantings for 2017 and a 3.7 percent decline in corn plantings, trade sources said on Thursday. Informa forecast 2017 soybean plantings at 88.487 million acres, an all-time high if realized. The firm projected U.S. corn plantings at 90.971 million acres. Click here to read full stories.
Oct 21 - China's grain reserve to buy 440,000 T of corn to support farmers - Xinhua
China's state stockpiler Sinograin will start buying corn from farmers in the country's top growing province of Heilongjiang, state news agency Xinhua reported on Thursday, in a move aimed to ease pressure on farmers. The reserve will buy a total 440,000 tonnes of corn this year, Xinhua said, paying 1,400 yuan a tonne. Click here to read full stories.
Oct 21 - Seed firm Vilmorin doubts farmer appetite for all-in offerings
Vilmorin will remain a specialist seed maker and is sceptical farmers will take to the bundled agricultural product offerings that have encouraged multi-billion merger deals in the farm supplies sector, the French firm's chief executive said. Bayer's planned $66 billion purchase of Monsanto, unveiled last month, followed ChemChina's deal to acquire Syngenta and a merger agreement between Dow Chemical and DuPont - moves designed to bring scale and broader product ranges during a downturn in many agricultural markets. Click here to read full stories.
Oct 21 - Typhoon kills 12, destroys rice fields in Philippines, takes aim at Hong Kong
Typhoon Haima, the strongest storm to hit the Philippines in three years, killed at least 12 people and inundated vast tracts of rice and corn fields, officials in Manila said on Friday, before it took aim at Hong Kong. Philippine authorities said they were assessing the extent of damage to infrastructure and crops, but confirmed that thousands of hectares of farmland were destroyed in northern provinces. Click here to read full stories.
Oct 21 - Malaysia Crude Palmoil Inventory Levels Supportive to Prices (Dow Jones)
Even though Malaysia palm oil stocks have started to rebuild, they remain below levels seen last year and this should continue to provide support for prices at current levels, says Rabobank says in a research note. The bank adds, however, it expects Malaysian production to see a 6% increment month on month to 181 million metric tons, resulting in higher stockpiles. It adds that the upside risk to palm oil prices is that Chinese buyers will come into the market. "China's current palm oil stocks at ports are 338,000 metric tons, lower than the five-year average of 645,000 metric tons." The Bursa Malaysia three-month palm oil contract settled down 14 ringgit at 2718ringgit/ton Thursday.
Oct 20 - Saudi Arabia's SAGO buys 610,000 tonnes of hard wheat in tender
Saudi Arabia's main state wheat buying agency, the Saudi Grains Organization (SAGO), said on Monday it purchased 610,000 tonnes of hard wheat in a tender. A tender for 595,000 tonnes had closed on Friday seeking wheat with 12.5 percent protein for shipment in December and January.
Oct 20 - Dealings for Brazil's new soy crop slow as farmers, trade cautious
Commercialization of Brazil's new soybean crop has been slow and should continue to be so at least until January, as lower prices keep producers away from the market, Algar Agro trading company head Murilo Braz Sant'Anna said on Wednesday. The recent strengthening of the Brazilian real against the U.S. dollar is also making farmers reluctant to sell their crops in the forward markets, while trading companies are looking to preserve their margins after strong competition this year hurt profitability, he said. Click here to read full stories.
Oct 20 - Egypt cenbank allocates $1.8 bln to build 6-month strategic goods stock - minister
Egypt's central bank has allocated $1.8 billion to ensure six months of reserves in all strategic goods, Supply Minister Mohamed Ali El-Sheikh said on Wednesday, after widespread sugar shortages prompted talk of an impending food crisis. Egypt already has five months’ worth of wheat and vegetable oil reserves and would ensure that Egyptians receive a steady supply of essential foods, Sheikh said at a news conference. Click here to read full stories.
Oct 20 - China corn rallies on talk govt mulling subsidies to boost use
China's corn futures rallied more than 2 percent on Thursday, on track for their best daily gain in four months amid speculation that Beijing may introduce subsidies for corn processors in an effort to boost consumption, analysts said. At 12:43 p.m. (0443 GMT), the most-active January contract was up 2.2 percent at 1,490 yuan ($221.09), its highest since mid-August. Click here to read full stories.
Oct 20 - Egypt's GASC seeks wheat for Nov. 21-30 shipment
Egypt's General Authority for Supply Commodities (GASC) set a tender on Wednesday to buy an unspecified amount of wheat from global suppliers for shipment from Nov. 21-30. Ahmed Youssef, vice chairman of GASC, said the authority is seeking to buy cargoes of soft and/or milling wheat from the United States, Canada, Australia, France, Germany, Poland, Argentina, Russia, Kazakhstan, Ukraine, Romania and Bulgaria. Click here to read full stories.
Oct 20 - Argentina may focus on biodiesel exports as soyoil demand fades
Argentina's portside processing plants are expected to increase output of biodiesel as a drop in soyoil demand has pushed them to seek more profitable alternatives, industry officials said on Wednesday. China has not bought soyoil from Argentina so far this year, as it moves toward importing raw soybeans to be crushed on the mainland. This has shifted Argentine exports toward India, which also has access to cheaper palm oil. Click here to read full stories.
Oct 20 - Australian rural families set to lodge bid for Kidman farm - ABC
Four of Australia's wealthiest outback cattle families plan to lodge the first entirely domestic offer to buy S.Kidman and Co, the country's largest private land holding, for A$385 million ($297.22 million), one of the quartet told Australian Broadcasting Corp on Thursday. The bid by the BBHO syndicate would be higher than the A$365 million joint offer by Australia's richest woman Gina Rinehart and Chinese developer Shanghai CRED that was agreed by Kidman earlier this month. Click here to read full stories.
Oct 20 - Ukraine to put Odessa plant back up for auction at lower starting price
Ukraine's government on Wednesday approved a plan to put a state-owned fertiliser plant in Odessa back up for auction at over half the price originally sought after the prime minister called for privatisations that did not hurt the country's image. The auction of the Black Sea plant is the first major privatisation since a 2014 uprising brought in a pro-Western leadership in Ukraine and could be a test of the government's promise to implement economic reforms and tackle corruption. Click here to read full stories.
Oct 20 - Dow exec vows new materials group will pack research punch
Dow Chemical will keep up research and development efforts even as it is set to lose some of its most research-intensive activities as part of a transformational deal with DuPont, the U.S. chemical maker's head of operations said. Dow will use current R&D budgets as a percentage of revenues as a future benchmark even after it is stripped of complex electronic materials and crop protection businesses after the planned merger with DuPont, Chief Operating Officer James Fitterling told Reuters. Click here to read full stories.
Oct 20 - Asian Crude Palmoil Likely to React to Export Estimates (Dow Jones)Asian palm oil prices will likely take trading cues from Malaysia export estimate data due out later in the session. Cargo surveyors Intertek Agri Services and SGS (Malaysia) Bhd are both due to released palm oil export estimates for the first 20 days of October later in the session. Data for October 1-15 forecast palm oil exports were lower. The Bursa Malaysia three-month palm oil contract was last trading up 18 ringgit at 27332/ton. Click here to read full stories.
Oct 19 - Asian Crude Palmoil Prices Rise as Traders Await Export Data (Dow Jones)
Asian crude palm oil prices ended slightly higher Wednesday, reversing some of the losses made late in trading Tuesday. The focus now for the market is on the release of Malaysia palm oil export estimates for the first 20-days of the month to see if there has been any improvement in exports. The data are due Thursday. The Bursa Malaysia three-month palm oil contract was last trading up 19 ringgit at 2733/ton.
Oct 19 - EU rapeseed crops in mixed state after dry sowing weather
A drought during the summer that hampered rapeseed sowing in the European Union has also caused some crops to emerge in poor condition, clouding the outlook for next year's harvest of the oilseed. The area sown with rapeseed may rise thanks to relatively attractive prices for the oilseed compared with cereals, with Strategie Grains putting the sown area in the EU at 6.7 million hectares, up from 6.5 million harvested this year. Click here to read full stories.
Oct 19 - Canadian carbon price worries farmers, fertilizer makers
Canada's plan to price carbon emissions may weaken the farm sector in one of the biggest grain-shipping countries, raising farmers' costs and discouraging investment in fertilizer production, industry groups say. Ottawa this month promised a price on carbon emissions by 2018, and will let provinces choose a tax or cap and trade system. Carbon pollution will cost C$10 a tonne in 2018, rising gradually to C$50 in 2022. Click here to read full stories.
Oct 19 - USDA says working to increase farmer participation in crop surveys
The U.S. Department of Agriculture (USDA) wants to get more farmers to complete its surveys after responses fell to a record low of 66.5 percent in a Sept. 30 grain stocks report, agency officials said on Tuesday. The government is concerned about dwindling response rates in part because crop yield data at the county level is one factor used to calculate compensation payments to farmers under the 2014 Farm Bill. Click here to read full stories.
Oct 19 - Brazil negotiating bigger beef, fruit access in Japan - ministry
Brazil's Agriculture Ministry on Tuesday said it is in talks with Japanese authorities to increase its exports of fresh beef and fruit to the Asian nation. The talks are aimed at recognizing and harmonizing sanitary and other food safety regulations, and if successful Brazil will be able to increase its share of Japan's beef and fruit market sometime in the middle of 2017, the ministry said in a statement. Click here to read full stories.
Oct 19 - Brazil will not tax farm exports to close pension gap - source
Brazil will not scrap an exemption from taxes on agricultural commodity exports in the world's largest sugar, coffee and soybean exporter as part of its social welfare reform, a senior member of the economic team told Reuters on Tuesday. Eliminating the exemption, which cost the government 5.3 billion reais ($1.67 billion) in lost revenue last year, was weighed as an option to reduce the widening pension deficit in a reform the government plans to present to Congress in coming weeks. Click here to read full stories.
Oct 19 - Global dairy prices get lift from tighter supply, spurring recovery hopes
Global dairy prices rose in an overnight auction on Tuesday paring losses from the previous auction earlier this month, and adding to economists' expectations prices are recovering as supply tightens. Prices in the fortnightly global dairy trade auction rose 1.4 percent to an average selling price of $2,965 per tonne, resuming a two-month rally briefly blemished by a 3 percent fall in the Oct. 4 auction. Click here to read full stories.
Oct 18 - Asian Crude Palmoil Falls Late in Trading on Exports Worries (Dow Jones)
Asian palm oil prices fell sharply late in Tuesday trading as the market changed focus and started to worry about export demand, says a Kuala Lumpur-based trader. Earlier in the session, the Bursa Malaysia 3-month palm oil contract touched 2,800 ringgit per ton, its highest level since March 2014. However, the trader says export estimates data released Monday, which forecast exports were down on month, has started to weigh on the market in the afternoon. The Bursa Malaysia 3-month palm oil contract ended the session down MYR55 at MYR2,713 a ton.
Oct 18 - Argentine wheat quality expected to jump as demand soars
The quality of Argentina's wheat crop will jump to help meet growing world demand as farmers in the Pampas grains belt invest more in fertilizers and high-protein seed varieties, the head of the country's wheat industry chamber said in an interview. Global stockpiles of the grain are projected to be the largest ever this season. But supplies of high-protein wheat used to make hearty breads and pizza have tightened due in part to a sub-par protein crop in the United States. Click here to read full stories.
Oct 18 - China's grain reserve buys corn in north-east, but at bargain prices - analysts
China's state stockpiler Sinograin is offering to purchase corn in north-east China at market prices, analysts said, underlining the government's willingness to let prices for the crop fall close to international levels. Beijing has scrapped a years-long corn stockpiling scheme under which it paid farmers above-market prices for their crop but left the state saddled with mountains of deteriorating corn. Click here to read full stories.
Oct 18 - Funds still historically bearish on CBOT wheat despite rally - Braun
Last week, soft red winter (SRW) wheat futures traded on the Chicago Board of Trade had the strongest week since June 2015 with prices sharply higher and funds historically short. SRW, the most actively traded U.S. wheat contract, is at 10-year lows following another bountiful global wheat harvest, but the market is still heavily short in futures and options. Click here to read full stories.
Oct 18 - Russian wheat export prices up after Egypt resumes tenders
Russian wheat export prices rose last week on renewed purchases by Egypt and other importers, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content were at $174 a tonne on a free-on-board (FOB) basis at the end of last week, up from $170 a week earlier, Russian agricultural consultancy IKAR said in a note. Click here to read full stories.
Oct 18 - Indonesia palm output likely rose in Sept as harvest season starts - Reuters survey
Indonesia's crude palm oil (CPO) output likely rose in September on the onset of the harvest season, while a rise in exports was also seen, according to a Reuters survey. CPO production likely climbed by 2.4 percent to 2.9 million tonnes, according to the median estimate in a survey of three industry associations, a state palm research firm and one of Indonesia's largest planters. Click here to read full stories.
Oct 18 - U.S. September soybean crush tops expectations - NOPA
The pace of U.S. soybean crushing accelerated by more than expected during September as processors in the eastern Midwest ramped up as harvest started, the National Oilseed Processors Association said on Monday. NOPA members crushed 2.1 percent more beans during September than a year earlier as farmers began delivering soybeans from what is expected to be a record-large harvest. It was the busiest September for crushing plants since 2007. Click here to read full stories.
Oct 18 - ISS recommends investors back Agrium-Potash Corp merger
Investor advisory company Institutional Shareholder Services (ISS) has recommended that investors in fertilizer producers Agrium Inc and Potash Corp of Saskatchewan support a merger of the companies. The decision was distributed to ISS clients on Friday and sent to media on Monday. The combination would create a company with significant leverage, ISS wrote in its report. Click here to read full stories.
Oct 18 - U.S. farmers criticize Dannon for non-GMO marketing
A coalition of farmers slammed Danone SA's U.S. subsidiary on Monday for marketing new products made without genetically modified ingredients, or GMOs, as supporting sustainable agriculture. In a letter to The Dannon Co head Mariano Lozano, groups representing ranchers, beet sugar, corn, soybean and dairy farmers said the marketing misleads consumers about genetically engineered ingredients, which can boost sustainability by reducing the need for pesticides and water. Click here to read full stories.
Oct 18 - Asian Crude Palmoil Likely Supported by Soyoil Moves (Dow Jones)
Asian palm oil prices are likely to remain supported after prices for soyoil soared 3.1% to a more than two-year high amid tight world supplies for vegetable oil. National Oilseed Processors Association said Monday that inventories of the oil had dropped sharply last month, to a smaller-than-expected 1.376 billion pounds from August's 1.62 billion pounds. The Bursa Malaysia benchmark three-month contract settled up 110 ringgit at 2768 ringgit a ton Monday.
Oct 17 - Asian Crude Palmoil Rallies Sharply, Following Soyoil Moves (Dow Jones)
Asian crude palm oil rallies sharply, tracking strength in soyoil prices in the U.S. Friday, which ended the session 3% higher. Helping prices was ongoing strength in the USD/MYR which was up 0.3% through the session. The Bursa Malaysia benchmark three-month contract closed up 111 ringgit at 2769 ringgit a ton. This is the highest close since April 4.
Oct 17 - U.S. corn exports race out of the gate, but may limp to finish
U.S. corn export sales this season are off to the strongest start in nearly a decade as low prices and limited export competition have expanded U.S. market share after years of ceding sales to suppliers like Brazil and Ukraine. A broader-than-normal slate of buyers have turned to the United States for corn as rival exporters have run low on supplies, according to government data. Click here to read full stories.
Oct 17 - China buyers sign deals for 5.1 mln tonnes U.S. soybeans
A delegation of soybean importers from China signed agreements to buy 5.1 million tonnes of U.S. soybeans valued at $2.1 billion at a ceremony in Des Moines, Iowa, on Friday, the U.S. Soybean Export Council said during a Facebook Live presentation. The purchase agreements were signed by seven of the top 10 Chinese soybean buyers, including state-owned COFCO and Sinograin and privately-held Sunshine group. Sellers included large grain traders such as Archer Daniels Midland, Bunge and Cargill. Click here to read full stories.
Oct 17 - Sinochem unit says has no knowledge of merger with ChemChina
Sinochem International Corp, a unit of state-owned Sinochem Group, said on Monday it has received no information regarding a proposed merger of its parent company with rival ChemChina. The two state-owned chemical companies are in discussions about a possible merger to create a chemicals, fertiliser and oil giant with almost $100 billion in annual revenue, three sources familiar with the matter told Reuters last week. Click here to read full stories.
Oct 17 - NOPA September soybean crush seen at 127.694 mln bushels
Crush levels at U.S. soybean processors likely eased during September as plant operators waited for the peak of harvest in key production states such as Iowa, Illinois and Indiana, analysts said. The National Oilseed Processors Association (NOPA), the largest U.S. trade group for the industry, is expected to report that its members crushed 127.694 million bushels of soybeans in September, based on the average of estimates given by six analysts. Click here to read full stories.
Oct 17 - Canadian railways urge Ottawa to loosen grain hauling rules
Canada's big railways are pressing Ottawa to loosen rules around hauling the country's crops, changes they say would improve efficiency but that farmers fear would weaken their bargaining power. A February report recommended that Ottawa institutes transportation system changes, including phasing out a 16-year-old cap on revenue that Canadian National Railway Co and Canadian Pacific Railway Limited earn hauling western grain. Click here to read full stories.
Oct 14 - Asian Crude Palmoil Ends Higher, but Remains in Range (Dow Jones)
Asian crude palm oil prices ended the session higher as crude oil prices rallied and concerns remain around supply tightness in the Malaysian market. However, the benchmark price has not moved outside of the 2,500 ringgit to 2,600 ringgit a ton trading range that it has remained in for the past six weeks. Key to trading Monday will be the release of palm oil export estimate data for 1-15 of October. The Bursa Malaysia three-month contract was last trading 47 ringgit higher at 2665 ringgit Friday.
Oct 14 - Syria makes major wheat deal with Russia after dire local harvest
Syria's state grain buying agency Hoboob struck a deal to purchase one million tonnes of Russian wheat from political ally Russia, covering the needs of government-controlled areas for a year.The Damascus government subsidises bread for the areas it controls ensuring the supply of flat loaves that are a staple for Syrian people. Click here to read full stories.
Oct 14 - ChemChina, Sinochem in talks on possible $100 bln merger
Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertiliser and oil giant with almost $100 billion annual revenue, three sources familiar with the matter said.The deal has been proposed by China's central government as part of its efforts to slash the number of state-owned companies and create larger, globally more competitive industry players, said the sources. Click here to read full stories.
Oct 14 - FranceAgriMer confirms wheat export slide, reassures on sowing
Farm office FranceAgriMer on Thursday reiterated the prospect of a plunge in French wheat exports after a poor harvest but said weather problems in 2016 may not deter farmers from sticking with wheat as they sow crop for next year.In a monthly supply-and-demand outlook, the office estimated this summer's French soft wheat 28.0 million tonnes, down 31.5 percent from a record 2015/16 crop. Click here to read full stories.
Oct 14 - Deere responds to U.S. Justice Dept move to block acquisition
Deere & Co said its proposal to buy Precision Planting, an agricultural equipment and technology company, will increase consumer choice and directly benefit growers, in a response filed on Wednesday to the U.S. Department of Justice's lawsuit to block the acquisition.Deere announced its planned acquisition of Precision Planting in November 2015, for about $190 million. Precision Planting's parent is The Climate Corporation, which is a unit of Monsanto Co. Click here to read full stories.
Oct 14 - Saudi Arabia tenders to buy 595,000 tonnes of hard wheat
Saudi Arabia's main state grain buyer SAGO said on Thursday it was seeking to purchase 595,000 tonnes of hard wheat from global suppliers in an international tender.The deadline for submitting offers was 2359 Saudi time (2059 GMT) on Oct. 14, with the wheat due to be shipped between Dec. 1, 2016 and Jan. 30, 2017, it said. Click here to read full stories.
Oct 14 - CME mulls cash settlement for volatile cattle market
CME Group Inc is considering switching to a cash settlement process for its live cattle futures, a managing director said on Thursday, as traders continued to complain about extreme volatility.Dave Lehman, managing director of commodity research and product development, said discussions about the new settlement procedure were part of an all-encompassing review of the market by CME, driven by concerns about price swings. Click here to read full stories.
Oct 14 - Plunging pound and threats put EU farm workers off the UK
For the last 18 years, Jerzy Kwapniewski has left his home in Poland to spend the summer months picking apples and hops on a farm in central England. He plans to look for work in Germany next year.The 50-year-old seasonal worker is one of many east Europeans who, shaken by the fallout from Britain's vote to leave the EU, have either left the country early or indicated a reluctance to return next year. Click here to read full stories.
Oct 14 - Smithfield resumes partial operations at biggest hog plant
Smithfield Foods said it resumed partial operations on Thursday at the world's largest hog processing facility in North Carolina, after shutting it due to Hurricane Matthew.The company also said it had a report of flood waters rising into a pit holding hog waste at one of the farms contracted to sell it livestock. It has not received reports "to date" that any of the in-ground pits have fallen apart due to flooding from the storm, according to a statement. Click here to read full stories.
Oct 13 - Asian Crude Palmoil Falls, Likely on Profit Taking (Dow Jones)
Asian crude palm oil prices ended the session lower likely due to some profit taking following moves higher in the commodity earlier in the week. Futhermore, palm oil commentator Dorab Mistry said at the Palm Oil Trade Fair and Seminar in Kuala Lumpur that he continues to see palm oil prices falling from current levels to around 2,200 ringgit a metric ton by the end of 2016. The Bursa Malays benchmark 3-month palm oil contract last traded down MYR37 a metric ton at MYR2616 a ton.
Oct 13 - USDA raises already-record soybean crop forecast
The U.S. Agriculture Department raised its already-record outlook for the U.S. soybean harvest on Wednesday as the crop benefited from timely rains throughout August.Soybean futures jumped as some traders had feared that USDA would increase its estimate for soybean yields even higher than it did, traders said. Another increase may come next month, they said.The government trimmed its corn production view but said that harvest would still be a record.
Oct 13 - Strapped for dollars and flooded with rice, Egypt to import more anyway
Egypt is looking to import large quantities of rice this month as farmers refuse to sell the government their crops despite a plentiful harvest and an extreme shortage of dollars that should make buying from abroad a last resort.Egypt's 2016 rice paddy production is estimated at 5.1 million metric tonnes versus annual consumption of about 3.95 million tonnes, a United States Department of Agriculture report this week stated. Click here to read full stories.
Oct 13 - High-protein wheat premiums to widen on crop damage - trader
Global premiums for high-protein wheat are expected to rise as unseasonal rains drive down quality in key producers, while Chicago futures are likely trade in a tight range in the next few months, a leading Singapore-based trader said on Wednesday.Wet weather at the time of harvest has left large volumes of wheat only fit for animal consumption in leading exporters such as Canada and Australia. Click here to read full stories.
Oct 13 - Britain's rapeseed crop falls by almost one-third - NFU
Britain's rapeseed harvest fell this year by almost one-third due to poor yields and a prolonged decline in the planted area which is expected to continue next season, the National Farmers Union said on Wednesday.The NFU put UK rapeseed production this year at 1.7 million tonnes, down 32.5 percent year-on-year and well below the five-year average of 2.5 million. Click here to read full stories.
Oct 13 - Euronext to launch fertiliser futures on Nov 14
Euronext will launch its planned nitrogen fertilisers futures contract on November 14, with March 2017 as the first delivery position, as it aims to diversify its commodities segment to non-food products, the company said on Wednesday. The so-called UAN 30 Nitrogen Fertiliser Solution contract will be based on urea ammonium nitrate (UAN) solution and physically deliverable in Rouen, northern France, which is also a delivery point for Euronext's flagship milling wheat contract. Click here to read full stories.
Oct 13 - Millions of N.Carolina chickens die in Hurricane Matthew floods - state
Flooding from Hurricane Matthew has killed up to 5 million poultry birds in North Carolina, most of them chickens, the state's top environmental official said on Wednesday, hurting a major contributor to its economy.Donald van der Vaart, secretary of the North Carolina Department of Environmental Quality, also told Reuters that some pits that hold hog waste on farms had been inundated with floodwaters. The waste, mixing with water, may eventually make its way into rivers, streams and the Atlantic Ocean. Click here to read full stories.
Oct 12 - Asian Crude Palmoil Ends Higher as Tight Supply Supports Prices (Dow Jones)
Asian palm oil prices ended the session higher but continues to trade in a rang of MYR2,500-MY2,700 metric ton, as concerns about tight supply continue to support prices. Tight supply in the market and a slow recovery in palm oil production in Malaysia continue to worry the market, while stronger crude oil prices are also supporting prices. The Bursa Malaysia December palm oil contract was last trading up 46 ringgit to 2657 ringgit a ton.
Oct 12 - Poor weather may cut Ukraine winter grain area by 500,000 hectares - forecaster
Torrential rains across most Ukrainian regions after a severe drought could leave around 500,000 hectares of winter grain area unsown and winter wheat is under major threat, a senior state weather forecaster said on Tuesday.Ukraine's winter wheat harvest is highly dependent on moisture content in the soil during the autumn sowing, air temperatures in winter and favourable weather in spring. Click here to read full stories.
Oct 12 - Australian wheat output seen near record, but exports at risk
Australia is expected to harvest a near-record wheat crop in 2016/17, slightly ahead of official estimates, a Reuters poll shows, but recent heavy rains may lead to quality downgrades and curb exports.The world's fourth-largest wheat exporter is set to produce 28.35 million tonnes, a poll of 10 analysts and traders found, just ahead of Australia's most recent official estimate of 28.1 million tonnes made in September. Click here to read full stories.
Oct 12 - U.S. soybean yields may be major thorn in bulls' sides -Braun
Expectations surrounding the U.S. soybean crop keep growing. Not only is a reality check in order - in terms of whether such big yields are even possible - but the impact on domestic stocks may be of greater interest.Analysts are expecting soybean yields to rise to 51.5 bushels per acre in the U.S. Department of Agriculture’s monthly crop production report, due on Wednesday at noon EDT. Click here to read full stories.
Oct 12 - Thailand to sell 100,000 t rice to China, announces steps to stabilise price
Thailand will sell 100,000 tonnes of rice to China within the next month, the commerce ministry said on Tuesday, while it also approved new measures to stabilise rice prices.Thailand, the world's second biggest rice exporter, will sell 100,000 tonnes of 5 pct white rice to China following a government-to-government deal which the two agreed last year. Click here to read full stories.
Oct 12 - Smithfield aims to reopen N. Carolina hog plant Thurs - power supplier
Smithfield Foods Inc is working to resume operations on Thursday at the world's largest hog processing facility in North Carolina after closing it due to Hurricane Matthew, the plant's electric supplier said on Tuesday.The meat company told Four County Electric Membership Corp that it wants to reopen the facility in Tar Heel, North Carolina, on Thursday if enough employees can make it to work, Gay Johnson, spokeswoman for the power supplier, told Reuters. Smithfield will have some workers report to the plant on Wednesday, she said. Click here to read full stories.
Oct 12 - Brazil poultry farms tepid over clearance of US GMO corn
Brazil's northeastern poultry producers say they are not planning short-term purchases of U.S. corn, despite the government's recent decision to clear genetically modified varieties for import to ease tight supplies locally.The northeast, a region which has the potential to buy large amounts of corn from the United States, is also relatively close to U.S. Gulf ports and would benefit from cheaper freight costs than importing from Argentina. Click here to read full stories.
Oct 12 - Asian Crude Palm Tad Lower, Eyes on Palm Oil Fair (Dow Jones)
Asian crude palm oil prices were trading a touch lower early in Wednesday trading, following a fall in crude oil prices overnight. The market's focus is now on the Malaysia Palm Oil Trade Fair and Seminar being held in Kuala Lumpur Wednesday and Thursday, and any remarks that may come out of it on the price outlook for crude palm oil. The Bursa Malaysia benchmark 3 month contract is trading down 3 ringgit a ton at MYR2608 a ton.
Oct 11 - Asian Crude palmoil Ends Higher as Commodities Broadly Rally (Dow Jones)
Asian crude palm oil prices were trading higher Tuesday, following strength broadly in commodities in Asia after the moves overnight in crude oil prices. Crude oil prices hit a one-year high on Monday on news that Russia would support the Organization of the Petroleum Exporting Countries' attempt to cut its collective output. However, prices for the benchmark palm oil contract remain in a reasonably tight range, supported by ongoing
concerns about tight supplies, after data released Monday showed Malaysia palm oil stocks in September were around 40% below where they were a year ago. The Bursa Malaysia benchmark 3-month contract was last trading up 59 ringgit at MYR2,601 a ton.
Oct 11 - South Korean mills led by Daehan buy 100,000 T Australian wheat
A group of South Korean mills led by Daehan Flour Mill Co Ltd bought a total of 100,000 tonnes of wheat to be sourced from Australia in a tender which closed on Friday, European traders said on Monday.The deals involved different wheat grades and was made in two 50,000 tonne purchases, they said.The first purchase for arrival between Feb. 15-28, 2017, was bought from trading house CBH and comprised 45,350 tonnes of Australian standard white wheat of 10.3 to 11.0 percent protein content bought at $206.50 a tonne FOB and 4,650 tonnes of Australian hard wheat of a minimum 11.5 percent protein content bought at $218.00 a tonne FOB, traders said. Click here to read full stories.
Oct 11 - UK wheat exports rise in August, France is top buyer
UK wheat exports gathered pace in August, boosted by substantial shipments to France, and are running well ahead of last season's pace, customs data showed on Monday.Exports for the month totalled 255,857 tonnes with France the largest customer (78,099 tonnes) followed by the Netherlands (71,683) and Spain (65,489).The total exceeded the prior month's 201,034 tonnes. Click here to read full stories.
Oct 11 - Russian wheat export prices up on stronger rouble, increased demand
Russian wheat export prices rose slightly last week on the back of increased demand from buyers and a stronger rouble, analysts said on Monday.Black Sea prices for Russian wheat with 12.5 percent protein content were at $173.50 a tonne on a free-on-board (FOB) basis at the end of last week, up $2.50 from a week earlier, Russian agricultural consultancy SovEcon said in a note. Click here to read full stories.
Oct 11 - Brazil's BRF weighs corn imports from U.S. after GMO clearance
Brazil's BRF, the world's largest poultry exporter, is weighing the possibility of importing corn from the United States as local supplies remain tight, Chief Financial Officer Alexandre Borges said on Monday.Brazil's official biosafety commission CTNBio last week cleared the entrance into the country of certain varieties of U.S. genetically modified corn, paving the way for Brazilian poultry and pork processors to import it to feed animals. Click here to read full stories.
Oct 11 - France lifts slightly estimate of 2016 maize crop, cuts wheat
France's farm ministry on Monday raised its outlook for the ongoing grain maize harvest to 12.6 million tonnes from 12.5 million forecast last month.The revised estimate was, however, 6.7 percent below last year's production and 18.3 percent lower than the average of the past five years after hot, dry weather hurt crops in the European Union's biggest grain grower. Click here to read full stories.
Oct 11 - Thailand to revive Iranian economic ties through rice deals, trade
Thailand aims to resume rice exports with Iran, the Thai commerce ministry said on Monday, following a trade meeting between the two countries in the Thai capital Bangkok.Trade leaders from the two nations met on the sidelines of the Asia Cooperation Dialogue meeting, a Thai-led meeting aimed at fostering dialogue among various regional organisations. Click here to read full stories.
Oct 11 - Crude Palm Oil to Trend Lower as Production Rises: Nomura (Dow Jones)
Crude palm oil prices will trend lower over the next two months due to continued improvement in production, says Nomura in a note. "We suggest profit-taking for those invested in the sector and re-entry if the December 2016 monsoon season rainfall is above normal levels." It says CPO prices will average MYR2,450 a metric ton over 2017, in the year to data CPO prices have averaged MYR2,552/ton. The Bursa Malaysia benchmark three-month palm oil contract settled 20 ringgit a ton lower at 2542 ringgit a ton.
Oct 10 - Asian CPO Sinks After SGS Releases Early Oct Estimates (Dow Jones)
Asian crude palm oil prices ends lower after Malaysia palm oil export data from SGS for the first 10 days of October estimates that exports are up just 1.9% on month. The data were considerably more bearish that estimates released earlier by fellow surveyor Intertek, which estimated exports had risen 10.7% on month. Exports of palm oil remain key with investors looking to see whether soft exports will more than offset lower production and allow stockpiles to rebuild. The Bursa Malaysia benchmark three-month palm oil contract ended 22 ringgit a ton lower at 2539 ringgit a ton.
Oct 10 - Philippines looks to China for farms 'windfall' when fruit ban ends
China will lift a Philippine fruit ban and explore broader farm and fisheries imports and investments in its fledgling farm sector, the Philippine agriculture minister said, signalling serious intent by Manila to beef up business with Beijing.China would resume shipments from 27 blacklisted fruit exporters as a "gift" when President Rodrigo Duterte visits with a business delegation from Oct. 19-21, Agriculture Secretary Emmanuel Pinol told Reuters on Sunday. Click here to read full stories.
Oct 10 - French wheat exports lag further in August, imports rise after bad crop
French soft wheat exports slowed in August while imports accelerated, customs data showed on Friday, showing the impact of a poor harvest in the European Union's biggest grain producer.France shipped about 913,000 tonnes of soft wheat abroad in August, the second month of the 2016/17 marketing season, less than the 1.1 million tonnes exported in July. Click here to read full stories.
Oct 10 - Indian cotton exports to Pakistan slump amid tensions - traders
Rising hostilities between India and Pakistan have brought their $822 million-a-year trade in cotton to a juddering halt, as traders who are worried about uncertainty over supplies and driven by patriotism hold off signing new deals.The nuclear-armed rivals have seen tensions ratchet up in the past few months over the disputed territory of Kashmir, and cotton traders in both countries said they were watching developments along the de facto border with alarm. Click here to read full stories.
Oct 10 - Traders buy 400,000 T of Ukraine wheat to supply to India - sources
Traders have bought around 400,000 tonnes of Ukraine-origin wheat to supply to Indian mills in October and November, after New Delhi cut import duties two weeks ago.Most deals were signed between $192 and $199 a tonne, including cost and freight, for Ukrainian milling wheat with 11.5-percent protein, said two Singapore-based trade sources with direct kowledge of the matter. Click here to read full stories.
Smithfield, Tyson to shut plants due to Hurricane Matthew
Smithfield Foods Inc will shutter a North Carolina hog processing facility, the world's largest, on Saturday to protect employees from Hurricane Matthew, a supplier said, as farmers braced for the storm's potential lashing. On Friday, Tyson Foods Inc, the biggest U.S. meat processor, closed a plant in Jacksonville, Florida, as Matthew hit the state with howling winds. The facility will remain shut on Saturday, company spokeswoman Caroline Ahn said. Click here to read full stories.
Oct 10 - Australia's Rinehart and China's Shanghai CRED agree deal for Kidman cattle empire
Australia's richest woman Gina Rinehart and Chinese developer Shanghai CRED have agreed on a deal to jointly purchase S. Kidman & Co, the country's largest private land holding, for A$365 million ($276.8 million), the companies said on Sunday.Rinehart's Hancock Prospecting will own 67 percent and Shanghai CRED 33 percent of Australian Outback Beef Pty Ltd, a new joint venture created to buy Kidman in a bid to overcome government concerns about foreign interests buying the cattle empire. Click here to read full stories.
Oct 10 - Asian Crude Palmoil to Take Cues From Stocks, Export Data (Dow Jones)
Asian palm oil prices Monday will be sensitive to the imminent release of export estimate data for the first 10 days of October from cargo surveyors SGS and Intertek later in the session, along with the Malaysian Palm Oil Board Data for September. Markets are focused on whether production has increased allowing for stocks -- which reached their lowest level since 2011 in August -- to start to rebuild and whether exports have held up. The Malaysian benchmark three-month palm oil contract last traded down 19 ringgit a metric ton at MYR2560 a ton Friday.
Oct 07 - Asian Crude Palmoil Ends Lower On Weaker Investor Sentiment (Dow Jones)
Asian crude palm oil prices ended lower amid weaker investor sentiment as traders await the release of a crop report next week. The Malaysian Palm Oil Board will release palm oil production data on Monday, with market watchers hoping demand will pick up with the beginning of the festival season in top-buyer India. Cargo surveyors Intertek Agri Services and SGS (Malaysia) Bhd. will also announce export estimates for the first 10 days of October next week. "Investors will make fresh moves depending on the performance of exports," says a Kuala Lumpur-based trader. The Malaysian benchmark three-month palm oil contract last traded down 19 ringgit a metric ton at MYR2560 a ton Friday.
Oct 07 - U.S. farmers race to ready for Hurricane Matthew's blast
Hurricane Matthew, the fiercest Caribbean storm in nearly a decade, roiled commodities markets and forced companies from cane refiners to orange juice makers to shutter as it whipped its way toward the southeastern United States on Thursday. Southeastern companies were closing down operations ahead of a storm that could threaten some two million tonnes of sugar and trees representing over 90 million boxes of citrus fruits in Florida. About half a million acres of cotton were at risk from torrential rain in North and South Carolina, where farmers have already been struggling during a rainy harvest. Click here to read full stories.
Oct 07 - Brazil approves imports of GMO corn varieties from the U.S.
Brazil's biosafety commission CTNBio approved on Thursday imports of threegenetically modified (GM) varieties of corn from the United States for animal feed production, said the government and the poultry and pork industry group ABPA. The measure will facilitate U.S. corn exports to Brazil, said ABPA, adding it will help mitigate tight corn supplies after a harsh drought severely cut production this year, and forced the animal growers to import corn from Argentina. Click here to read full stories.
Oct 07 - Wet North America harvest adds pressure for farmers
North America's wettest harvest in about five years is hiking farmers' costs as they dry crops to avoid spoilage and forcing them to take price discounts that are pinching incomes already under stress. One-fifth of the United States and Canadian crop belts were soaked by abnormally high precipitation during the last month, said Drew Lerner, meteorologist atcommodity weather forecaster World Weather Inc. There could be more rain next week, he added, while some areas of Canada have already seen snow. Click here to read full stories.
Oct 07 - 4th quarter gives shot in arm to U.S. 2015-16 corn, soy exports -Braun
The recently concluded 2015-16 U.S. export campaign could have been somewhat disappointing for soybeans and relatively disastrous for corn. But activity in the fourth quarter propped up the at-times shaky marketing year. The U.S. Census Bureau on Wednesday released official trade figures for August, the final month in the 2015-16 marketing year for corn and soybeans. Click here to read full stories.
Oct 07 - World food prices rise to highest in 18 months in September
World food prices rose in September to their highest since March 2015, led mainly by sugar, the United Nations food agency said on Thursday. Except for a small dip in July, the Food and Agriculture Organization's (FAO) food price index has been increasing steadily since January, when it hit a seven-year low. Click here to read full stories.
Oct 07 - Cargill offers certified non-GMO sweeteners and sunflower oil
Cargill Inc has introduced its first sweeteners and sunflower oil certified as not genetically modified, or non-GMO, it said on Thursday, becoming the latest food company to bolster its roster of ingredients perceived as more natural. The Minneapolis-based global commodities trader is now offering commercial-scale cane sugar and erythritol, another sweetener, as well as sunflower oil that have been certified as non-GMO by a third party, it said in a statement.
Oct 06 - Asian Crude Palmoil Ends Higher Tracking Rival Oil Performance (Dow Jones)
Asian crude palm oil prices recover from losses to end higher Thursday, supported by gains in competing oils. Rival oils such as soybean oil and related products influence prices of palm oil, as the two compete to grab a share in the global vegetable oils market, so prices often move together. However, the gains in prices might be short-lived, as investors are waiting on the export estimates, due for release next week. Rising production and sluggish export performance have kept pressure on prices, says David Ng, analyst at Philip Futures in Kuala Lumpur. Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange rise 21 ringgit at MYR2,577 a ton Thursday.
Oct 06 - Egypt stocks up on strategic commodities ahead of devaluation
Egypt said it plans to build a six month reserve of essential food items, adding to other recent purchases of commodities such as oil and wheat, in what traders said was a move to build up stocks ahead of a currency devaluation.Prime Minister Sherif Ismail said late on Tuesday the country would look to import 500,000 tonnes of rice and 400,000 tonnes of sugar to boost reserves and keep prices in the domestic market down. Click here to read full stories.
Oct 06 - Monsanto surprises with adjusted profit as expenses drop
U.S. seeds and agrochemicals company Monsanto Co, which agreed last month to be bought by Germany's Bayer AG for $66 billion, reported a surprise adjusted profit, helped by a drop in expenses and higher corn seed volumes. Monsanto agreed in September to a sweetened $128-per-share offer from Bayer that, if approved by regulators, would create a company commanding more than a quarter of the world market for seeds and pesticides. Click here to read full stories.
Oct 06 - Vale fertilizer deal on track despite BNDES delay - sources
Vale SA's plan to dispose of fertilizer assets remains on track despite a request last week by Brazil's state development bank, BNDES, to analyze the transaction more carefully, according to two people with direct knowledge of the situation. Terms of the deal, which involves the sale of certain assets to U.S.-based Mosaic Co , are unlikely to change significantly, one of the sources said on Wednesday, requesting anonymity to speak freely about the issue. Click here to read full stories.
Oct 06 - Syria pondering options for funding Russian wheat purchase
Syria is looking to finance a 1 million tonne wheat purchase from political ally Russia in an attempt to fill its supply gap after war and poor rainfall nearly halved its local crop. The government of President Bashar al-Assad was forced to tender this summer for an unprecedented 1.35 million tonnes of imported wheat from Russia to ensure supply of the flat loaves that are a staple for the Syrian people. Click here to read full stories.
Oct 06 - Lower potash inventories seen prodding Canpotex-China deal sooner
Dwindling inventories of the crop nutrient potash held by Chinese buyers could lead to an earlier 2017 sales contract with Canpotex Ltd, the offshore sales arm for Canadian mines operated by Potash Corp of Saskatchewan, Mosaic Co and Agrium Inc, the chief executive of Canpotex said. "Will (buyers) be compelled to get to the negotiating table earlier in the year? Perhaps that will be the case, which will mean our deliveries will be more evenly distributed over the year," Canpotex CEO Ken Seitz said in a phone interview from Saskatoon, Saskatchewan on Wednesday. Click here to read full stories.
Oct 06 - EU proposes to expand duty-free Ukrainian grain imports
The European Commission has proposed that the EU increase the volume of Ukrainian grains that can be imported duty-free into the bloc, so that total import quotas would exceed 1 million tonnes per year for both maize and wheat. The proposal, which needs to be formally adopted by the European Parliament and the Council of the European Union, includes annual tariff rate quotas for 100,000 tonnes of wheat, 650,000 tonnes of maize and 350,000 tonnes of barley, according to the EU Official Journal. Click here to read full stories.
Oct 06 - AGCO eyes comeback in South America after political shifts
AGCO Corporation, a leading agricultural machinery maker, believes political changes in Brazil and Argentina could spur renewed farm investment in South America's two largest countries and revive the region's status as a growth area. After seeing sales dive in the two grain-producing nations plagued by deep recessions, AGCO is betting the arrival of more business friendly governments will prompt a revival in investment in the agricultural powerhouses, its chief executive told Reuters in an interview. Click here to read full stories.
Oct 06 - Argentine farmers favor corn, wheat planting over soy
Argentina will likely harvest a record corn crop as farmers favor planting corn and wheat over soybeans in the upcoming 2016/17 season, the Buenos Aires grains exchange said on Wednesday. A record crop of 36 million tonnes of commercial-use corn is expected, up 20 percent from 30 million tonnes in 2015/16, said Esteban Copati, head of crop estimates at the exchange.The soy crop, on the other hand, is seen at 53 million tonnes, down from 56 million tonnes a year earlier, Copati told journalists. Argentina is the world's No. 3 corn and soy exporter and top exporter of soybeans and soymeal. Click here to read full stories.
Oct 06 - Philippine rice traders seek to import 750,150 T rice
More than a hundred rice traders in the Philippines have applied for permits to import a total of 750,150 tonnes of the staple grain, mainly from Thailand and Vietnam, based on the latest list of applicants from the state grains procurement agency. The figure is below the maximum volume of 805,200 tonnes that private traders are allowed to bring in under an annual country-specific quota scheme covered by a 2014 agreement with the World Trade Organization (WTO). Click here to read full stories.
Oct 06 - Malaysia palm oil stocks likely to grow as exports decline
Malaysia's palm oil stockpiles likely grew in September from a near six-year low the previous month, expanding on rising production and a drop in demand for exports.Increasing stocks in the world's No.2 producer of the tropical oil could drag on benchmark prices that have already fallen 7 percent from five-month highs hit in late-September. Click here to read full stories.
Oct 05 - Asian Crude Palmoil Ends in Red on Demand Worries (Dow Jones)
Asian crude palm oil prices continue their downward trend Wednesday on persistent concerns of falling exports. Investors are worried that demand from top-buyer India may weaken further as it switches to the competitively-priced rival soyoil. Cargo surveyors Intertek Agri Services and SGS (Malaysia) Bhd. will release palm oil export estimates for the first 10 days of October next week. "Investors will be watching out for leads before making any fresh moves," a Kuala Lumpur-based trader says. Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange fell 36 ringgit to MYR2,564 a ton Wednesday.
Oct 05 - USDA to pay farmers more than $7 billion due to low crop prices
The U.S. Department of Agriculture will pay more than $7 billion of taxpayers' money to farmersthis fall to keep them afloat in the face of low crop prices, agency officials said on Tuesday.The USDA released the total on the same day that payments started going out to more than 1.5 million growers of corn, soybeans and other crops, who had enrolled in U.S. safety-net programs to protect themselves from market downturns last year. Click here to read full stories.
Oct 05 - Cargill profit jumps on beef demand, better grain margins
Global commodities trader Cargill Inc reported a sharply higher quarterly net profit on Tuesday, helped by rising beef demand and stronger grain trading and processing margins.The privately held company's net income rose 66 percent to $852 million in the first quarter ended Aug. 31 from $512 million a year earlier. Click here to read full stories.
Oct 05 - Ukraine harvests 44.5 mln T of grains so far - ministry
Ukraine has harvested 77 percent or 11.1 million hectares of its grain sowing area and collected 44.5 million tonnes of grain as of Oct. 3, Ukraine's Agriculture Ministry said on Tuesday.The average yield has been 4.03 tonnes per hectare versus 3.70 tonnes a year earlier, it said in a statement. Ukraine had harvested 42.7 million tonnes of grain at the same date in 2015. Ukraine has already completed its wheat and barley harvest. Click here to read full stories.
Oct 05 - Egypt's GASC says buys 240,000 tonnes of Russian wheat
Egypt's state grain buyer, the General Authority for Supply Commodities, said on Tuesday it had bought 240,000 tonnes of Russian wheat in a tender. GASC did not disclose the details of the purchase. Click here to read full stories.
Oct 05 - France launches guarantee fund to help struggling farmers
France will launch a public guarantee system to enable farmers facing a sharp fall in revenue to boost their cash position or refinance their debt at favourable rates, Prime Minister Manuel Valls said on Tuesday. French livestock, dairy and grain farmers have all faced weak prices in the past year, with grain growers also hit by a slump in output this season due to poor spring weather which led to the lowest yields in over 30 years in some crops. Click here to read full stories.
Oct 05 - NZ farmers eye dairy recovery despite global price fall
A dip in global dairy prices on Wednesday added to farmers' concerns that a nascent recovery could be short-lived, although analysts said it was too soon to tell whether the decline was a one-off. Prices in the fortnightly Global Dairy Trade Auction fell 3 percent to $2,880, abruptly ending a two-month rally that farmers had hoped would cap two years of plummeting prices amid global oversupply and a slow-down in demand from China. Click here to read full stories.
Oct 05 - Asian Crude Palmoil May See Further Pressure From Oil, Ringgit (Dow Jones)
Asian palm oil prices may see some further pressure as oil prices see some weakness and the MYR/USD rises, putting pressure on the ringgit-denominated commodity. Furthermore, soybean prices continue to move lower on reports of exceptional yields in the U.S., while soyoil prices also fell slightly. The Bursa Malaysia benchmark three-month contract ended down 38 ringgit at MYR2598 a metric ton on Tuesday.
Oct 04 - Argentina delays soy export tax cut to 2018 amid budget shortfall
Argentina will not reduce soy export taxes this year or in 2017 as previously announced and will instead reduce the tax by 0.5 percentage points per month from January 2018 to December 2019, President Mauricio Macri said on Monday.Shortly after taking office in December, Macri eliminated corn and wheat export taxes as part of his plan to revitalize the country's massive farm sector. He cut the export tax on soy, the country's main cash crop, from 35 percent to 30 percent, and the government had planned further cuts beginning this year. Click here to read full stories.
Oct 04 - EU cuts maize crop estimate again but raises stocks
The European Commission on Monday slashed its estimate of this year's European Union maize harvest for the second month in a row, but increased itsforecast end-of-season stocks while boosting other supplies and cutting expected use in animal feed. Forecasters have been lowering their estimates for the EU maize (corn) crop, now being harvested, after summer drought and heat hurt maize in some areas, particularly in top producers France and Romania. Click here to read full stories.
Oct 04 - U.S. August soybean crush falls to 4.22 million tons - USDA
The U.S. Department of Agriculture said on Monday that U.S. processors crushed 4.219 million tons, or 140.6 million bushels, of soybeans during August, down from 4.604 million tons crushed during July. Analysts, on average, had been expecting the August crush to come in at 4.231 million tons, or 141.0 million bushels. A year ago, the crush totaled 4.337 million tons. Click here to read full stories.
Oct 04 - Return of the 'blob': U.S. gearing up for cold winter? - Braun
It may seem as if the United States is warned every autumn of the potentially cold winter that lies ahead. But this time, it might be for real. Everyone from ordinary citizens to energy industry executives appreciates an early glimpse of what winter may have in store, particularly for the Northern, Central and Eastern United States areas that are most subject to winter’s brutality. Click here to read full stories.
Oct 04 - Russia wheat prices rise more on Egypt import restart - SovEcon
Russian wheat export prices rose further last week after Egypt resumed imports of Russian wheat and as French wheat became more expensive in dollar terms, SovEcon analysts said. Black Sea prices for Russian wheat with a 12.5 percent protein content were at $171 a tonne on a free-on-board (FOB) basis, up from $169 a week earlier, SovEcon said in a note. Click here to read full stories.
Oct 04 - INTL FCStone raises US 2016 soy yield estimate, trims corn
Commodity brokerage INTL FCStone said on Monday it raised its estimate of the average U.S. 2016 soybean yield to a record 52.5 bushels per acre (bpa), from 50.1 in its previous monthly report. The firm raised its soybean production estimate to 4.357 billion bushels from 4.163 billion last month. INTL FCStone trimmed its forecast of the U.S. 2016 corn yield to 175.2 bpa, from its September figure of 175.6. The firm forecast U.S. corn production at 15.163 billion bushels, down from 15.195 billion last month. Click here to read full stories.
Oct 04 - Asian Crude Palmoil Prices May Start Sinking as Production Improves (Dow Jones)
Asian crude palm oil might continue its correction lower as production continues to pick up, says a Kuala Lumpur based trader, who expects palm oil to move to MYR2500 a metric ton over the near term. However, he notes that volumes in the market remain light with China out on holiday this week. The Bursa Malaysia benchmark three-month contract ended up MYR20 a metric ton at MYR2636 a metric ton on Friday. The market was closed Monday.
Oct 03 - Hamburg/Rotterdam Prices, European veg oils Not Available Due to German Unity Day. Data expected to be available again on Oct. 4.
Oct 03 - China set to export corn, threatening global market -sources
China has given approval to at least two companies to export corn, trading sources said, in a radical move by the world's No. 2 producer to cut its ballooning surplus and unleash more supply into a saturated global market. In what could be the first bulk exports in a decade, the Chinese government has issued permits to two state-owned companies, top grains trader Cofco and major processor and trader Beidahuang, allowing them to sell grain abroad, the China-based sources who were not authorised to speak to the media said on Friday. Click here to read full stories.
Oct 03 - U.S. spring wheat market jolted as USDA cuts crop estimate
A surprise cut in the government's forecast for the 2016 spring wheat harvest in the United States has fanned concerns supplies will be tight this season, buoying prices for the top-quality grain and boosting its premium to lesser grades of wheat. The U.S. Department of Agriculture (USDA) on Friday lowered its estimate of U.S. spring wheat output, excluding durum, to 534 million bushels from 571 million previously. The average estimate among analysts surveyed by Reuters was for 570 million bushels. Click here to read full stories.
Oct 03 - Russia may reinstall wheat export duty in force-majeure case - TASS
Russia may again introduce wheat export duty in the case of sharp rouble weakening or a dramatic decline in harvest, TASS news agency was quoting Russian Agriculture Minister Alexander Tkachev on Sunday as saying. Russia reduced to zero its wheat export duty from Sept. 23. Click here to read full stories.
Oct 03 - Shanghai watchdogs fine OSI and unit over meat scandal
Market watchdogs in Shanghai have fined fast-food chain supplier Shanghai Husi Food Co and its U.S. parent OSI Group more than 24 million yuan ($3.6 million) for making and selling sub-standard products in a meat scandal two years ago, the Shanghai Daily reported on Monday. The case broke in July 2014 when a Chinese TV report allegedly showed workers at a Shanghai unit of OSI using out-of-date meat and doctoring production dates in a scandal that prompted apologies from OSI clients McDonald's Corp and Yum Brands Inc. Click here to read full stories.
Oct 03 - USDA August soybean crush seen at 141.0 mln bushels - Poll
The U.S. Department of Agriculture's monthly report on oilseed crushings will likely show that about 4.231 million short tons, or 141.0 million bushels, of soybeans were processed in August, a Reuters poll of seven analysts showed on Friday. Their estimates ranged from 140.0 million to 141.965 million bushels. The median forecast was 141.0 million bushels. Click here to read full stories.
Oct 03 - Soiled soy seeds raise costs for Argentine farmers
Poor seed quality in Argentina, caused by intense rainfall early in the year, are doubling costs of the 2016/17 soy crop in some key regions and could even hurt output, sector sources said.Torrential showers in April in Argentina's key producing regions hurt last year's soy crop in the world's top exporter of soy meal and soy oil. Click here to read full stories.
Oct 03 - Chinese cash market prices for grains & oilseeds are unavailable Oct 1 to 09 due to national Day holiday + Dual Yang festival.
Oct 03 - Malaysian cash market prices for palm oil are unavailable today due to islamic New Year holiday (Awal Muharram)
Sep 30 - Weather favours Russia's winter grains sowing for 2017 crop
Russia's winter grain sowing campaign for the 2017 crop has benefited from favourable weather so far this autumn, analysts said on Thursday, improving chances that the country could have a bumper harvest for a fourth year running.Crops in Russia, a major wheat exporter to North Africa and the Middle East, depend heavily on the weather conditions. The country produced more than 100 million tonnes of grain a year in 2014-2016 because a mild winter or good spring rains made up for damage done by an autumn that was too dry or too wet. Click here to read full stories.
Sep 30 - Louis Dreyfus stems profit slide but commodity headwinds persist
Agricultural trading giant Louis Dreyfus Company eked out a small rise in 2016 first-half net profit, saying steady shipped volumes helped it weather another tough period in commodity markets.Louis Dreyfus has been grappling with ample supply, lower prices and slower economic growth that have cut margins, while also going through a leadership shake-up under main shareholder Margarita Louis-Dreyfus. Click here to read full stories.
Sep 30 - Europe's food safety watchdog says to release studies on weed-killer glyphosate
Europe's food safety watchdog will release data from some of the scientific studies it reviewed in its assessment of glyphosate, an ingredient in Monsanto's widely used herbicide Roundup and subject of a fierce row over possible cancer risk. The European Food Safety Authority (EFSA) said on Thursday it had decided to release the raw data as part of its "commitment to open risk assessment". Click here to read full stories.
Sep 30 - Analyzing corn, soy biases of Sept. 1 grain stocks -Braun
After Friday, the agriculture market will no longer have to debate and analyze old-crop corn and soybean supply, but the confirmation does not always come in exactly as expected.The U.S. Department of Agriculture will release its quarterly grain stocks report on Friday at noon EDT, and this data will settle the 2015-16 ending stocks, or carryout, of U.S. corn and soybeans. Click here to read full stories.
Sep 30 - Brazil's Vale intends to form partnership in fertilizers
Vale SA intends to form a strategic partnership in fertilizers, a segment in which the world's largest iron ore producer, has failed to find a partner or sell in recent years. In a securities filing on Thursday, Rio de Janeiro-based Vale said board members did not discuss a sale of the fertilizers unit. In recent days, several local newspapers said a sale of the unit would be approved at the Thursday board meeting. Click here to read full stories.
Sep 30 - USDA requires meat packers to report online cattle auction deals
The U.S. Department of Agriculture said Thursday it will require meat packers to report cattle purchases they make through online auctions to the agency starting next week, a move that stoked traders' hopes for more transparent markets. The USDA will begin including transactions from auctions on the Fed Cattle Exchange in pricing reports that top packers, including Cargill and Tyson Foods, use to determine how much they should pay farmers for an increasing percentage of animals sold. Click here to read full stories.
Sep 30 - Brazil's BRF cuts payments to suppliers as margins narrow
BRF SA the world's largest poultry exporter, said it would apply a 5 percent discount to most of its purchases in Brazil, where a recession and rising grain prices are reducing profitability.In a Thursday statement sent to Reuters, the Brazilian company said the discount would be effective throughout the fourth quarter to "maintain the business sustainable in the face of the country's ongoing macroeconomic challenges." Click here to read full stories.
Sep 30 - Asian Crude Palmoil Likely to Take Lead From Export Data (Dow Jones)
Asian CPO prices will likely take a lead from the release of September export estimates from Malaysia due to be released from cargo surveyor Intertek and SGS later in the day on Friday. Prices have remained high because of tight supplies and ongoing demand, however, traders say that if demand starts to fall off that will see prices move back to MYR2,500/ton. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange rises MYR11 to MYR2,616 a ton at the end of the trading day Thursday.
Sep 29 - Asian CPO Closes Higher on Hopes of Better Indian Demand (Dow Jones)
Asian crude palm-oil prices end higher Thursday, on expectations of improved demand from India. The Indian government last week lowered its import duty on crude palm oil and refined vegetable oils to boost supplies. Investors are hoping better demand from India will lift prices, a Kuala Lumpur-based trader says. David Ng, analyst at Philip Futures, expects palm-oil prices to trade between 2,500 ringgit and 2,650 ringgit a ton in the next few days. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange rises MYR11 to MYR2616 a ton at the end of the trading day Thursday.
Sep 29 - Australia wheat output at risk as wet weather set to continue
Australia's east coast will likely see wetter conditions than usual for the rest of 2016, stoking fears of wheat production losses in the world's No. 4 exporter of the grain. The country's east coast has a 60 percent chance of above average rainfall from October to December, the Australian Bureau of Meteorology said on Thursday. Click here to read full stories.
Sep 29 - Wheat market has cause for optimism about global demand - Braun
The world has entered its third year of record wheat inventory, but demand is stronger than meets the eye. World wheat stocks-to-use is actually tightening up, but China's stockpiling tendencies make the market hard to read. Stocks-to-use is an important ratio in commodities because it is perhaps the simplest way to simultaneously capture both supply and demand. In grains, this ratio relates the marketing year ending stocks to the total amount used during that year, including all forms of consumption and exports. Click here to read full stories.
Sep 29 - Monsanto ally Novozymes sees opportunity, risk in Bayer merger
Novozymes already grappling with the consequences of low oil and crop prices, is watching anxiously to see what Bayer's purchase of Monsanto will mean for the Danish group's ties with its key agricultural partner. Chief Executive Peder Holk Nielsen said in an interview that a merged Bayer-Monsanto could extend the market for the company's smart microbial crop-boosting products, known as inoculants, but added the union also brings uncertainties. Click here to read full stories.
Sep 29 - China slaps anti-subsidy duties on U.S. distillers' dried grains
China will impose anti-subsidy duties of between 10 percent and 10.7 percent on imports of U.S. animal feed ingredient known as distillers' dried grains (DDGS), the Commerce Ministry said in a preliminary ruling on Wednesday. The move was widely expected after the government announced a similar move on anti-dumping duties last week. Click here to read full stories.
Sep 29 - U.S. farmer lawsuits over Syngenta GMO corn granted class status
A U.S. district court judge in Kansas this week said lawsuits brought by U.S. farmers against seed company Syngenta AG over sales of biotech corn seeds not approved for import by China can proceed as a class action, according to a court filing. Farmers from the largest U.S. corn-producing states sued the seed maker in 2014 after grain shipments containing traces of Syngenta's Agrisure Viptera corn were rejected by China, which had not approved the variety for import before it was launched. Click here to read full stories.
Sep 28 - Asian CPO Closes Weaker on Rival Oils, Lackluster Exports (Dow Jones)
Asian crude palm-oil future prices end lower on Wednesday tracking weaker competing oils. Soybean oil is used as a substitute for palm-oil so the prices often move together as both try to get a share of the world market. Besides, weaker export performance from top-buyers India and China has also weighed on the mood of the market. However, trading sentiment is likely to improve on hopes of better demand from India ahead of the festival season that begins in October. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange fell 55 ringgit to 2608 ringgit a ton at the end of the trading day Wednesday.
Sep 28 - Egypt's move to ditch government wheat inspectors upsets traders
Egypt has hired Swiss company SGS to inspect wheat cargoes before they are shipped, replacing government experts who have done this in the past, the agriculture ministry said on Tuesday.The move has caused confusion among trading companies which have relied on the government quarantine inspectors to check the quality of the wheat before shipment to Egypt. Click here to read full stories.
Sep 28 - Wheat market has cause for optimism about global demand - Braun
The world has entered its third year of record wheat inventory, but demand is stronger than meets the eye. World wheat stocks-to-use is actually tightening up, but China's stockpiling tendencies make the market hard to read. Stocks-to-use is an important ratio in commodities because it is perhaps the simplest way to simultaneously capture both supply and demand.In grains, this ratio relates the marketing year ending stocks to the total amount used during that year, including all forms of consumption and exports. Click here to read full stories.
Sep 28 - China slaps anti-subsidy duties on U.S. distillers' dried grains
China will impose anti-subsidy duties of between 10 percent and 10.7 percent on imports of U.S. animal feed ingredient known as distillers' dried grains (DDGS), the Commerce Ministry said in a preliminary ruling on Wednesday. The move was widely expected after the government announced a similar move on anti-dumping duties last week. Click here to read full stories.
Sep 28 - U.S. farmer lawsuits over Syngenta GMO corn granted class status
A U.S. district court judge in Kansas this week said lawsuits brought by U.S. farmers against seed company Syngenta AG over sales of biotech corn seeds not approved for import by China can proceed as a class action, according to a court filing. Farmers from the largest U.S. corn-producing states sued the seed maker in 2014 after grain shipments containing traces of Syngenta's Agrisure Viptera corn were rejected by China, which had not approved the variety for import before it was launched. Click here to read full stories.
Sep 28 - Brazil eyes Asian middle class to expand food exports -minister
Brazil is betting Asia's rapidly growing middle class will help it capture one tenth of the global food market in five years by expanding its exports beyond soy, sugar and coffee, the country's Agriculture Minister Blairo Maggi said on Tuesday. Maggi, a billionaire soy farmer, said Brazil will focus on increasing sales of beef, pork, chicken, fish, dairy and other products to a region with half the world's population and a middle class that will grow to 3.2 billion people by 2030. Click here to read full stories.
Sep 28 - South Africa's crop committee raises 2016 maize forecast 3.3 percent
South Africa will likely harvest 7.5 million tonnes of maize in 2016, up 3.3 percent from the previous estimate as the yields look better than previously thought for both white and yellow maize, a government agency said on Tuesday. The forecast by the Crop Estimates Committee (CEC), its ninth and final this season, was 25 percent lower than the 9.95 million tonnes reaped last year, due to a severe drought impacting crops. Click here to read full stories.
Sep 27 - Agricultural merger mania fuels fears among small seed sellers
The U.S. Justice Department is looking into concerns that global consolidation among major seed and agricultural chemical companies may squeeze supplies of the building blocks for widely used genetically modified seeds, a farm group told Reuters.The department has asked the American Soybean Association for details about how small and independent seed companies license seedtraits from developers, said Steve Censky, chief executive of the association. Click here to read full stories.
Sep 27 - EU crop monitor cuts maize yield estimate due to hot, dry summer
The European Union's crop monitoring service on Monday cut its yield forecast for this year's EU maize harvest for the second month in a row to push it below the five-year average, as it factored in the effects of the extremely hot, dry weather this summer.The MARS service estimated the average yield in the EU grain maize harvest at 6.84 tonnes per hectare (t/ha), down from 7.23 t/ha seen in August. This was now 1.3 percent below the average of the past five years, although still above last year's drought-affected yield of 6.31 t/ha, it said. Click here to read full stories.
Sep 27 - Russian wheat prices rise as Egypt returns to the fold
Russian wheat export prices rose last week for the first time since mid-August, buoyed by demand from Egypt after it dropped its policy of not importing wheat containing the ergot fungus, agricultural consultancy IKAR said.Egypt's state importer GASC bought 240,000 tonnes of Russian wheat last week, in its first successful tender purchase since abolishing the rule. Egypt is the biggest buyer of Russian wheat. Click here to read full stories.
Sep 27 - Trade estimates for USDA U.S. quarterly grain stocks - Poll
The U.S. Department of Agriculture (USDA) will release its quarterly U.S. grain stocks report at noon EDT (1600 GMT) on Friday.Below are analysts' estimates for U.S. quarterly grain stocks as of Sept. 1. Click here to read full stories.
Sep 27 - Indonesia has abolished cattle import quotas -trade minister
Indonesia has abolished its quota system for cattle imports, allowing companies to ship in livestock provided that they commit to the country's domestic breeding programme, the trade minister said on Monday.Virtually all of Indonesia's cattle is shipped from Australia in trade that was worth nearly $600 million last year, but the Southeast Asian nation is restricting imports and pushing buyers to breed their own livestock inside the country to reduce its dependence on imports. Click here to read full stories.
Sep 27 - Asian Crude Palmoil Ends Lower on Sluggish Export Performance (Dow Jones)
Asian crude palm-oil prices reverse gains to end lower, weighed down by weaker exports. Palm oil shipments from Malaysia fell more than 15% compared with the same duration last month, data from cargo surveyors Intertek Agri Services and SGS (Malaysia) showed. "Weaker export data led the drop in prices," said a futures trader from Kuala Lumpur. He said the exports were expected to remain slow in the near term. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange fell 52 ringgit to 2663 ringgit a ton at the end of the trading day Tuesday.
Sep 26 - Vietnam's Rice Production to Fall 1M Tons on Drought Conditions (USDA - Dow Jones)
Vietnam's rice production for 2015/2016 is down about a million tons to 5.7 million, due mainly to the impact of drought weather conditions caused by El Nino, which lowered mainly the spring crop production in the Mekong River Delta, says the U.S. Department of Agriculture in a note. Exports were estimated at 6.6 million tons in 2014-15. It adds that local corn production areas faced greater difficulties in 2015/2016 due to adverse weather conditions and competitive prices from large corn producing countries like India, Argentina, and Brazil. "Imports of corn into Vietnam are up sharply from 4.9 million tons in the marketing year 2014/2015 to 7.9 million tons in the marketing year 2015/2016 due to attractive corn prices," it says. The marketing year runs January to December.
Sep 26 - Asian CPO Ends Higher on Expectation of Rising India Demand (Dow Jones)
Asian crude palm-oil prices end higher Monday buoyed by expected improved purchases from biggest palm buyer India. India on Friday lowered the import duty on both crude palm-oil and refined edible oils by five percentage points to 7.5% and 15%, respectively. The cut in import tax rate is likely to lift palm-oil exports from Malaysia to India that slowed this month, traders say. Malaysia's palm-oil exports during Sept. 1-25 are estimated to have fallen 15.6% from the previous month to 1,112,058 metric tons, cargo surveyor Intertek Agri Services said Monday. The slowdown in exports was driven by weaker purchases from India that fell 34% to 298,850 metric tons. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange last traded 44 ringgit higher at 2,720 ringgit a ton.
Sep 26 - China slaps anti-dumping duties on U.S. animal feed ingredient
China on Friday slapped anti-dumping duties on a U.S. animal feed ingredient known as distillers' dried grains (DDGS) amid an intensifying spat between the world's two largest economies over agricultural trade which totaled over $20 billion last year. Beijing's preliminary decision calls for duties of 33.8 percent, effective immediately, the Ministry of Commerce said. The move comes after a months-long probe following complaints by China's ethanol producers that the U.S. industry was unfairly benefiting from subsidies. Click here to read full stories.
Sep 26 - Coceral cuts 2016 EU wheat estimate to 133.8 mln tonnes
Grain lobby Coceral lowered on Friday its estimate of 2016 soft wheat production in the 28-nation European Union to 133.8 million tonnes from 148.0 million in its previous outlook in June. The revised figure, which was far below a record 152.1 million tonnes in 2015, was similar to the European Commission's most recent estimate of this year's weather-hit wheat harvest. Click here to read full stories.
Sep 26 - India cuts import taxes on wheat, palm oil, refined oils
India has cut import taxes on wheat, crude palm oil and refined vegetable oils, a finance ministry order showed on Friday, as part of efforts to curb food inflation. New Delhi lowered the wheat import tax to 10 percent from 25 percent and cut the import duty on both crude palm oil and refined edible oils by five percentage points to 7.5 and 15 percent respectively, the order on a government website, showed. Click here to read full stories.
Sep 26 - Harvest halts, processors close as rains swamp upper Midwest
Heavy rains and flooding swamped a broad swathe of the northern Midwest this week, halting the harvest of corn and soybeans and forcing the closure of at least two Iowa crop processing plants, traders and farmers said on Friday. Farmers' concerns grew that standing water in fields could damage unharvested crops, while floodwaters swelled the Mississippi River and threatened to disrupt the loading of export-bound grain barges. Click here to read full stories.
Sep 26 - China to extend anti-dumping measures on U.S. broiler chicken product imports
China's commerce ministry said it will extend anti-dumping measures on imports of U.S. broiler chicken products for a further five years, effective from Sept 27. A suspension of the measures would potentially hurt Chinese firms, according to a statement posted on the ministry's website on Monday. Click here to read full stories.
Sep 26 - Bountiful U.S. 2016 pumpkin crop overcomes last year's shortfall
Halloween enthusiasts need not take fright over the state of this year's U.S. pumpkin crop. Supplies of the orange-yellow fruit are much more plentiful than last year, easing concerns of a possible shortage for carving jack-o'-lanterns and buying filling for pumpkin pies. U.S. store supplies of canned pumpkin have almost overcome the effects of last year's shortage, which was caused by damage to crops from heavy rains in parts of the Midwest. Click here to read full stories.
Sep 26 - Saudi grains agency SAGO to take over barley imports from ministry
Saudi General Grains Organisation (SAGO) will take over barley imports from the finance ministry starting next week, its director-general said. SAGO, which was previously called the General Silos and Flour Mills Organisation (GSFMO), handles the storage and operation of silos and production at mills. Click here to read full stories.
Sep 26 - JBS says Brazil beef exports to U.S. competitive despite tax
Brazilian fresh beef exports to the United States will be competitive even if subject to a 26.4 percent duty when shipped outside of a tax-free quota, Miguel Gularte, the head of JBS Mercosur, said on Friday. The official, who is in charge of meatpacker JBS SA's division for the trade bloc formed by Brazil, Argentina, Paraguay, Uruguay and Venezuela, believes the United States will be among the five key markets for Brazilian fresh beef as soon as 2017. Click here to read full stories.
Sep 26 - U.S. August cattle feedlot placements jump to 4-year high
U.S. feedlots in August brought in 15.0 percent more cattle compared with a year ago, the U.S. Department of Agriculture said on Friday, topping average trade estimates and the highest for the month in four years. Analysts attributed last month's sizable placement increase to ranchers who moved cattle to market earlier than they would have otherwise as prices deteriorated during the second half of August. Click here to read full stories.
Sep 26 - Asian Crude Palmoil to Take Cues From Export Estimate Data (Dow Jones)
Key for Asian crude palm oil prices are the release of export estimates data from cargo surveyors Intertek and SGS later in Monday's session. The market will be looking to see whether import demand from China and India continue to hold up and how exports are tracking against last month. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange last traded 50 ringgit lower at MYR2,675 ringgit a ton Friday.
Sep 23 - Asian CPO Closes Lower on Signs of Weak Export Performance (Dow Jones)
Asian crude palm-oil prices reversed gains to end lower Friday amid a mixed price forecast by leading industry analysts at a palm-oil conference in India. Profit-taking activities after the recent rally also weighed on palm-oil prices, says David Ng, analyst at Philip Futures in Kuala Lumpur. Signs of weaker export performance have hurt the mood of the market, he adds. Ng expects prices to trade between 2600 ringgit per ton and 2720 ringgit per ton during the next week. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange last traded 50 ringgit lower at 2,675 ringgit a ton Friday.
Sep 23 - Egypt's GASC buys 240,000 tonnes of Russian wheat after amending terms
Egypt's General Authority for Supply Commodities (GASC) bought 240,000 tonnes of Russian wheat on Thursday in a tender, its first successful purchase since abolishing a "zero ergot fungus" rule that had halted its previous three tenders.GASC bought 180,000 tonnes of Russian wheat at an average price of $187.11 per tonne cost and freight, and another 60,000 tonnes at $186.80 per tonne cost and freight, traders said. Click here to read full stories.
Sep 23 - China slaps anti-dumping duties on U.S. distillers grains
China said on Friday it is slapping anti-dumping duties on U.S. distillers' dried grains (DDGS) shipped bysome of the biggest suppliers of the animal feed ingredient, including Louis Dreyfus and Archer Daniels Midland.The duties of 33.8 percent are effective immediately, the Ministry of Commerce said in a preliminary ruling. The move comes after a months-long probe following complaints by China's ethanol producers that the U.S. industry was unfairly benefiting from subsidies. Click here to read full stories.
Sep 23 - U.S. rains, Fujian typhoons spur rally in China's edible oils
Torrential rain in the U.S. Midwest and typhoons in China have spurred the biggest rally in years in China's canola and palm oil market as investors fretted about supplies in the world's top edible oil market, traders and analysts said on Thursday.The most-active palm oil futures for delivery in Januar hit 5,794 yuan ($869) per tonne on Thursday, their highest in nearly two years. Prices have risen 5.8 percent this week and were on track for their best quarterly performance in six years. Click here to read full stories.
Sep 23 - Less growth in Brazil soybean area not a huge liability -Braun
Although Brazilian soybean plantings are poised for the smallest year-on-year increase in a decade, supply concerns are not warranted - yet.Brazil is the primary supplier of soybeans to the world, accounting for about 42 percent of global soybean trade. China, its main customer, purchased 72 percent of the soybean volume Brazil put up for sale in 2014-15. Click here to read full stories.
Sep 23 - China, Canada resolve canola-shipping dispute
Canada and China have agreed on a long-term solution to a trade dispute over C$2 billion ($1.53 billion) worth of annual canola sales, leaders of the two countries said on Thursday, setting aside their spat over the crop as they seek to broaden trade ties.China announced plans this year to toughen its standard on foreign material, called dockage, in Canadian canola shipments, before twice backing down near its deadlines. Even so, sales from Canada, the world's biggest exporter of the yellow-flowering crop, slowed. Click here to read full stories.
Sep 23 - Iran now self-sufficient in wheat, hopes to export soon - president
Iran has become self-sufficient in wheat and aims to export wheat in the coming months, Iranian President Hassan Rouhani said on Thursday."We had a good year that led Iran to stop importing wheat. We are planning to export wheat in the coming months," Rouhani told a news conference on the sidelines of the annual U.N. gathering of world leaders. Click here to read full stories.
Sep 23 - France imports more wheat as bad crop hits starch makers
A wheat cargo from Bulgaria has arrived at France's Dunkirk port in a shipment destined for the starch industry, shipping and trade sources said, adding to a run of imports into the European Union's biggest producer of the grain following a poor harvest.The bulk carrier Glory Mercy reached Dunkirk late on Wednesday after transporting 33,000 tonnes of wheat from the Bulgarian Black Sea port of Burgas, the sources said. Click here to read full stories.
Sep 23 - Down but not out: champagne production set to weather the storm
Champagne makers will escape the harsh weather damage hitting other French wines this year thanks to an old tradition that allows them to blend new bubbly with reserves saved from past years.The 2016 champagne harvest has been hammered by a combination of frost, rains and drought that is set to take output to its lowest for more than 30 years, down around 30 percent from 2015, producers group CIVC told Reuters. Click here to read full stories.
Sep 23 - Canada feedlot closure seen hurting prices, sending cattle to U.S.
The closure of one of Canada's biggest cattle feedlots is likely to depress prices of young cattle and the grains used to fatten them, and may increase sales to the United States, industry officials say.Alberta-based Western Feedlots said on Wednesday that it will shut feeding operations early in 2017, citing poor market conditions and unfavorable economic factors in the province. Click here to read full stories.
Sep 23 - Asian CPO Prices Stay Well Supported as Supply Tightens (Dow Jones)
The Bursa Malaysia benchmark crude palm oil contract is likely to remain well supported for the next two to four months as current global supply is tight, says BMI Research. However, the research house says palm oil prices will drop next year as effects from El Nino fizzle. A temporary pick-up in China's import demand to replenish inventory will also help buoy prices. "Overall, in line with our view, the market has remained tighter than expected by consensus so far in 2H16, as El Niño has had a stronger impact on palm oil output than first forecast. This has helped prices rally by 23% over July-September 22," the firm says. The benchmark palm-oil contract on the Bursa Malaysia Derivatives exchange rose 49 ringgit higher in the previous session at MYR2,726.
Sep 22 - Asian Crude Palmoil Rises as Supply Tightens (Dow Jones)
Asian palm-oil futures rose Thursday amid tight supplies and rising export demand. Production is undershooting both export and domestic demand, says Ritesh Kumar Sahu, research analyst at Angel Broking. The benchmark palm-oil contract on the Bursa Malaysia Derivatives exchange was 49 ringgit higher at MYR2,726.
Sep 22 - Egypt cancels zero ergot wheat policy amid mounting pressure
Egypt has reversed its controversial zero-tolerance policy on the common grains fungus ergot, the government said on Wednesday, backtracking on an import regulation that had all but blocked its access to global wheat.Egypt, the world's largest buyer of wheat, has seen its imports grind to a halt since it imposed a ban on ergot last month, with three successive state tenders cancelled on the back of mass boycotts by suppliers who say the condition is impossible to guarantee. Click here to read full stories.
Sep 22 - Corn mold lurks in U.S. fields, threatening crop yields
A fungal disease called Diplodia ear rot is lurking in corn fields in portions of the U.S. Midwest, and crop experts and farmers fear lower yields and crop damage that could force growers to accept steep discounts on the cash market.Diplodia, which causes a whitish mold between kernels, is common in corn but its emergence this year appears to be more severe than normal, particularly in central Illinois and western Ohio following rainy summer weather, agronomists in those states said. Click here to read full stories.
Sep 22 - Higher demand to push up India's palm oil imports in 2016/17
India's palm oil imports in 2016/17 are likely to rise 9 percent to 9.24 million tonnes from a year earlier, as a growing population and higher income levels drive up edible oil consumption, a leading industry analyst said on Wednesday.Higher purchases by India, the world's biggest importer of cooking oils, could further push up benchmark palm oil prices, which are already trading near a five-month high. Click here to read full stories.
Sep 22 - China conditionally lifts import ban on some U.S. beef - agri ministry
China has conditionally lifted an import ban on some shipments of U.S. boneless beef and beef on the bone, the agriculture ministry and quality watchdog said on Thursday.The lifting of the ban applies to imports of beef that are under 30 months old, according to a statement posted on the Ministry of Agriculture's website. The removal of the ban remains subject to completion of quarantine requirements, which will be issued later, the ministry said, without providing further details. Click here to read full stories.
Sep 22 - Fonterra reports solid lift in FY net profit
Dairy giant Fonterra Co-operative Group Ltd on Thursday reported a lift in its full year net profit despite challenges in global dairy markets.The world's largest dairy exporter said net profit after tax was NZ$834 million ($612.91 million) in the year to July 31, up 65 percent on the year. Revenue was NZ$17.2 billion, down 9 percent. Click here to read full stories.
Sep 21 - Asian Crude Palmoil Edges Lower on Weak Demand From India (Dow Jones)
Asian crude palm oil prices ended slightly lower Wednesday amid worries of weak demand. Data released by cargo surveyors Intertek Agri Services Tuesday showed exports to India, one of the biggest buyers, dropped 23% to 262,650 metric tons during September 1-20 from 342,325 metric tons during the same period a month ago. However, demand is expected to improve as festival season begins in India next month spurring purchases, says David Ng, analyst at Philip Futures in Kuala Lumpur. He expects prices to trade between 2600 ringgit a ton and 2750 ringgit a ton. Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange were down 18 ringgit at 2,675 ringgit per ton at the end of the trading day.
Sep 21 - Tough farm conditions right time for Potash merger - Agrium CEO
Plunging crop and fertilizer prices may not have hit rock bottom yet, and the market's weakness makes it the right time to merge leading farm input suppliers, the chief executive officer of Agrium Inc said on Tuesday, making his pitch to skeptical investors for a $26 billion union with Potash Corp of Saskatchewan Inc. Click here to read full stories.
Sep 21 - U.S. lawmakers skeptical of ag chemical, seed merger wave
U.S. lawmakers expressed concern on Tuesday over a wave of mergers among companies that sell farmers their seeds, herbicides and insecticides, worrying that the deals could lead to higher prices and less innovation at a time of dropping farm incomes. Senator Richard Blumenthal, a Democrat from Connecticut, said the proposed mergers of Dow and DuPont, Bayer and Monsanto and Syngenta and ChemChina had potential consequences which were "troubling, in fact alarming." Click here to read full stories.
Sep 21 - Wetter isn't better for U.S. corn, soy harvest - Braun
U.S. corn and soybean farmers welcome plentiful summer rains, but when harvest rolls around in the autumn, excessive rain becomes the enemy, as it can put both the current and future crops at risk.The United States is in the early harvesting stages of corn and soybeans, the country's two largest crops and key agricultural exports. Record-large volumes are slated to be harvested over the next two months as moisture has been plentiful this season in most of the major growing regions. Click here to read full stories.
Sep 21 - Timely rains relieve EU rapeseed crops after difficult sowings
Widespread showers over the past week in Western Europe boosted rapeseed crop development after a dry and hot summer, but the drought prompted farmers to sow less of the oilseed than initially planned, analysts said.Rapeseed, mainly used to make vegetable oil, biofuel and animal feed, traditionally kicks off the sowing season in Europe and the final area tends to impact those of other grains sown at a later stage in the season. Click here to read full stories.
Sep 21 - Fonterra lifts farmgate milk payout for current season
New Zealand dairy co-operative Fonterra on Wednesday lifted its farmgate milk price forecast for the current season to NZ$5.25 ($3.84) per kilogram of milk solids, citing reduced global supply and steady demand.The dairy giant said the total payout available to farmers, including earnings per share, was now forecast to be NZ$5.75 to NZ$5.85 before retentions. Click here to read full stories.
Sep 21 - Asian CPO Likely to Continue Higher on Production Worries (Dow Jones)
The Bursa Malaysia benchmark crude palm oil contract looks set to move higher as concerns remain that palm oil production has not recovered as quickly as expected. This follows dry conditions associated with El Nino earlier this year, says a Kuala Lumpur based trader. He notes that concerns remain that supply will stay tight in the market. Furthermore, strength in oilseed futures markets overnight could continue to provide support. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange settled 51 ringgit higher at 2693 ringgit a ton Tuesday, having touched a high of 2725 ringgit earlier in the session.
Sep 20 - Asian Crude Palmoil Rises on Expectation of Declining Stocks (Dow Jones)
Asian crude palm-oil future prices rallied another day amid tightness in the physical market. Despite negative numbers from cargo surveyors, "expectations are running high that stockpiles will remain tight," says David Ng, analyst at Philip Futures in Kuala Lumpur. Data released by Intertek Agri Services estimated Malaysia's palm-oil exports during the September 1-20 were down 11% from the previous month at 914,264 metric tons.
Another cargo surveyor SGS (Malaysia) estimated Malaysia's palm-oil exports during the same period were down 12.2% on month at 917,288 metric tons. Ng expects prices to trade between 2640 ringgit a ton and 2750 ringgit a ton in the next few days. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange last traded 48 ringgit higher at 2690 ringgit a ton Tuesday.
Sep 20 - Battered by war, Syria's wheat crop halved this year to new low
Syria's wheat harvest nearly halved to 1.3 million tonnes this year, the lowest in 27 years, as fighting and poor rainfall further degraded the farming sector and the nation's ability to feed itself.The government of President Bashar al-Assad was forced to tender this summer for an unprecedented 1.35 million tonnes of imported wheat from political ally Russia to ensure supply of the flat loaves that are a staple for the Syrian people. Click here to read full stories.
Sep 20 - Russian wheat prices fall on Egypt's policy over fungus
Russian wheat export prices fell for the fourth week amid a continued standoff between Moscow and Egypt, the world's largest buyer, after Cairo banned wheat with any ergot, a common grain fungus, analysts said on Monday.Moscow is seeking talks with Egypt after Cairo rejected Russian wheat shipments after reinstating a strict ergot policy, wreaking havoc on the country's grain purchases and baffling traders. Click here to read full stories.
Sep 20 - China's soybean import growth to slow in 2016/17 - Grain Center
A jump in domestic soy output and plentiful state stocks will slow the growth in Chinese demand for the oilseed in 2016/17, said an official Chinese think-tank on Monday, just as the United States harvests a record crop.China is the world's top buyer of soybeans, typically importing about two thirds of the globally traded volume. Imports have grown each year since 2004, by an average of 5 million tonnes annually, data from the U.S. Department of Agriculture (USDA) shows. Click here to read full stories.
Sep 20 - Egypt's GASC cancels third tender amid ergot standoff
Egypt failed to attract a single offer at its state grain tender on Monday, forcing it to cancel its third consecutive wheat purchase tender amid an ongoing standoff with suppliers over import policies.The country's state grain buyer GASC was tapping global markets for wheat for the third time since Egypt reinstated a controversial zero-tolerance policy towards ergot on Aug 28. Click here to read full stories.
Sep 20 - New Zealand approves Silver Fern stake sale to China's Bright
New Zealand on Tuesday approved the sale of a 50 percent stake in meat processor Silver Fern Farms to Chinese food processor Shanghai Maling Aquarius for NZ$261 million ($190.84 million).The Dunedin-based company had voted in October to allow Shanghai Maling, a unit of China's Bright Food Group , to take a half-share in the firm. The deal had been delayed while they argued for approval from foreign investment regulators. Click here to read full stories.
Sep 20 - Toxin may lift durum wheat prices despite huge North American harvest
The swaying durum crops on Dave Marzolf's farm look lush and even, bearing full kernels of the wheat used to make pasta.On a closer look though, Marzolf's durum kernels are infected with fusarium, a disease that produces a toxin known as vomitoxin and has forced him to sell the crop for animal feed. Click here to read full stories.
Sep 20 - Australia crimps beef export forecast as farmers cull less cattle
Australia has crimped its forecast for beef exports by nearly 7 percent, with farmers easing off on slaughtering cattle as they look to rebuild herds from 20-year lows following three years of drought.Shipments from the world's No.4 exporter of the meat are expected to total 1.025 million tonnes in the 2016/17 season, the Australian Bureau of Agriculture, Resource Economics and Rural Sciences (ABARES) said, down from its June forecast of 1.1 million tonnes and dropping from over 1.17 million tonnes the year before. Click here to read full stories.
Sep 20 - Britain's Dairy Crest sees margin pressure as milk prices go up
Britain's Dairy Crest Group Plc expects higher milk prices to weigh on butter volumes and margins in the second half of the year, the company's chief executive said on Monday. The milk processor's shares fell as much as 6 percent to a two-week low of 628 pence. Click here to read full stories.
Sep 20 - Asian Crude Palmoil Rally Supports Oilseed Futures (Dow Jones)
A sharp rally in Asia crude palm oil prices on Monday, has supported oilseed futures in the U.S., says Commonwealth Bank of Australia; "Canola oil, with its higher oil content, benefited the most on the day." Key for palm oil prices Tuesday will be the release of export estimate data from both Intertek and SGS later in the session as the market will be looking to see whether export demand continues to hold up. The benchmark palm-oil contract on the Bursa Malaysia Derivatives Exchange closed up MYR84 ringgit a ton at MYR2,649 a ton.
Sep 19 - Struggling U.S. wheat sector cheers trade action against China
U.S. wheat farmers, struggling to make money as prices sink and global supplies swell, could be the main beneficiaries if Washington wins a case it brought last week against China over an estimated $100 billion in domestic grain market supports.On Tuesday, U.S. trade officials said they would file a case at the World Trade Organization (WTO) against China over allegations that aggressive pricing supports prompted Chinese farmers to overproduce corn, wheat and rice, fueling a global crop glut and depressing world prices. Click here to read full stories.
Sep 19 - China's Dalian Commodity Exchange to expand corn delivery locations
China's Dalian Commodity Exchange said on Sunday it will add three delivery locations for its corn future contracts in the country's northeast, in Heilongjiang province, Jilin province and Inner Mongolia.The exchange did not give a timeline for when the warehouses would start operating.The three areas are all major producers of corn and are in addition to the exchange's main delivery point in Liaoning province, the position of which wouldn't be affected by the expansion, said a statement on the exchange's website. Click here to read full stories.
Sep 19 - Price slump to curb U.S. wheat acres while Russia expands
U.S. farmers are poised to plant winter wheat on the smallest area in over a century this autumn, as tumbling global prices and fierce competition push the world's former top supplier into retreat.But even that shrinkage is unlikely to dent massive global supplies or help bolster prices. The world wheat harvest hit a record in 2016, sending nearby Chicago Board of Trade futures to 10-year lows below $4 a bushel. Click here to read full stories.
Sep 19 - Egypt seeks wheat for third time since ergot reversal
Egypt, the world's largest wheat buyer, is tapping global markets again to purchase the strategic grain, its third attempt since reinstating a controversial zero tolerance policy towards the ergot fungus that has infuriated traders.The state grain buyer, the General Authority for Supply Commodities (GASC), set the tender on Sunday to buy an unspecified amount of wheat from global suppliers for shipment from Oct. 16-26, GASC vice chairman Ahmed Youssef said. Click here to read full stories.
Sep 19 - Bayer in $66 bln bet that farmers will back linked-up supplies
Bayer's $66 billion purchase of Monsanto amounts to a long-term bet that farmers will grow to trust combinations of seeds and pesticides rather than continue to pick from ranges of separate products.In the short term, the German drugs and chemicals firm hopes to benefit from a marketing and sales force that can promote combinations of the two groups' existing products. Click here to read full stories.
Sep 19 - Egypt sets up committee to resolve agricultural trade standoff with Russia
Egypt's agriculture ministry has formed a high level committee to try and resolve a trade standoff with Russia over agricultural commodities, the ministry said on Sunday.Russia said on Friday it would temporarily suspend imports of fruit and vegetables from Egypt starting Sept. 22. Click here to read full stories.
Sep 19 - Rains stall early harvest in western U.S. Corn Belt
Rains have slowed the start of the harvest in the western U.S. Corn Belt this week and wet conditions are likely to persist for the next several weeks, an agricultural meteorologist said on Friday.Worries about harvest delays helped lift Chicago Board of Trade corn and soybean futures on Friday, traders said, with both commodities rallying from early declines. Click here to read full stories.
Sep 19 - Russia bans Egyptian fruit and veg imports after wheat rejection
Russia will temporary suspend imports of fruit and vegetables from Egypt from Sept. 22, Russia's food safety watchdog said on Friday, hours after Cairo rejected a Russian wheat shipment.The move came after Egyptian quarantine inspectors rejected a 60,000-tonne Russian wheat shipment due to problems related to Cairo's policy over the ergot fungus. Click here to read full stories.
Sep 19 - EU approves Syngenta GM maize strains
The European Commission said on Friday it had authorised 11 varieties of genetically modified maize produced by Syngenta Crop Protection for use as food or feed.The authorisation, which does not cover cultivation, is valid for 10 years and any products with the GM maize strains are subject to labelling and traceability rules. Click here to read full stories.
Sep 19 - EPA says glyphosate, used in Monsanto herbicide, likely not carcinogenic
Glyphosate, the key ingredient in Monsanto Co's Roundup herbicide, is not likely carcinogenic to humans, the U.S. Environmental Protection Agency said on Friday as it outlined its current position on the controversial chemical.The EPA has been involved in a decades-long process to assess human and animal health risks, as well as ecological risks, of glyphosate. Various agencies around the world have offered conflicting opinions on whether glyphosate causes cancer. Click here to read full stories.
Sep 19 - Asian CPO Opens Higher on Expectation of Better Export Data (Dow Jones)
Asian palm oil future prices open slightly stronger Monday on expectations of better export performance. Cargo surveyors Intertek and SGS are due to release export estimates for the first 20 days of this month on Tuesday. Investors are expecting better demand from one of the biggest buyers India ahead of festive season. Benchmark palm-oil futures for December on the Bursa Malaysia Derivatives Exchange opens 10 ringgit higher at 2575 ringgit a ton.
Sep 16 - Agrium to woo uneasy investors over Potash merger deal
Canada's Agrium Inc will woo reluctant shareholders next week in Toronto to support its proposed merger with Potash Corp of Saskatchewan Inc, and seek to appease concerns that it has little to gain by marrying its fertilizer rival.The $26-billion, all-stock merger would combine Potash's crop nutrient production capacity, the world's largest, with Agrium's farm retail network, North America's biggest. Click here to read full stories.
Sep 16 - Argentina seed royalties proposal has 'worrying' elements - Syngenta
Argentina's new proposal to enforce seed makers' ability to collect royalty payments from grain farmers who use their seed technology more than once contains "worrying" elements, the Latin America head of agribusiness firm Syngenta told Reuters.Last week, the government of President Mauricio Macri proposed that the country's farmers pay royalties to seed makers for the use of second-generation seeds for two seasons, a change from current legislation that allows them to reproduce genetically modified seeds for free. Click here to read full stories.
Sep 16 - Egypt's GASC says seeks wheat for Oct. 15-25 shipment
Egypt's General Authority for Supply Commodities (GASC) set a tender on Thursday to buy an unspecified amount of wheat from global suppliers for shipment from Oct. 15 to25.Ahmed Youssef, vice chairman of GASC, said the authority wasseeking to buy cargoes of soft and/or milling wheat from the United States, Canada, Australia, France, Germany, Poland, Argentina, Russia, Kazakhstan, Ukraine, Romania and Bulgaria. Click here to read full stories.
Sep 16 - U.S. wheat shippers putting lousy 2015-16 behind them - Braun
Although it has been dogged by a lot of doom and gloom of late, the U.S. wheat market may be finally starting to see a break in the clouds.Last season, it seemed that the United States just could not sell any wheat, and without the sales, domestic wheat stocks ballooned to the largest volume in almost 30 years. Click here to read full stories.
Sep 16 - U.S. August soybean crush falls below expectations - NOPA
U.S. soy processors crushed 2.6 percent fewer beans in August than a year earlier and the pace fell below market expectations due to declines at plants in the Southwest, the National Oilseed Processors Association said on Thursday.NOPA said that its members crushed 131.822 million bushels of soybeans in August, down from 143.715 million during July. In August 2015, the NOPA crush was 135.304 million bushels. Click here to read full stories.
Sep 16 - Strategie Grains cuts EU wheat volume again, slashes milling quality
Consultancy Strategie Grains on Thursday again cut its estimate of this year's soft wheat production in the European Union and also sharply lowered the expected share of milling-quality wheat due to weather damage.It put EU soft wheat production at 136.5 million tonnes, down 1.4 million tonnes from its previous monthly estimate and now 10 percent below a record 2015 crop. Click here to read full stories.
Sep 16 - Data for Malaysian cash market prices for palm oil are unavailable due to a holiday ( Malaysia Day )
Sep 15 - Asian Crude Palmoil Ends Higher on Ringgit Weakening (Dow Jones)
Asian crude palm-oil future prices end stronger Thursday supported by a weaker ringgit, despite announcement of an increase in export tax next month. "The market shrugged [off] the negative news amid a weaker ringgit which may boost the demand for Malaysian palm-oil in the short term," says David Ng, analyst at Philip Futures in Kuala Lumpur. He expects price to trade between 2500 ringgit a ton and 2650 ringgit a ton in the next few days. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange ended 30 ringgit higher at 2594 ringgit a ton.
Sep 15 - Bayer clinches Monsanto with improved $66 billion bid
German drug and crop chemical maker Bayer clinched a $66 billion takeover of U.S. seeds company Monsanto on Wednesday, ending months of wrangling with a third sweetened offer that marks the largest all-cash deal on record.The $128-a-share deal, up from Bayer's previous offer of $127.50 a share, has emerged as the signature deal in a consolidation race that has roiled the agribusiness sector in recent years, due to shifting weather patterns, intense competition in grain exports and a souring global farm economy. Click here to read full stories.
Sep 15 - Sliding U.S. export share, trade disputes, set stage for China grains clash
On the surface, the timing of the United States' audacious challenge to China's price supports for its grain farmers looks odd.Farmers in the world's second-biggest economy are currently harvesting their first corn crop in a decade that will not be priced by the government, after Beijing launched efforts to reform its corn policy earlier this year. Furthermore, domestic Chinese corn prices are languishing close to multi-year lows. Click here to read full stories.
Sep 15 - ChemChina seals combination of Israel's Adama with Sanonda
ChemChina is selling Israeli crop protection company Adama Agricultural Solutions to a firm it controls for $2.8 billion, paving the way for completing a previously announced combination of the two businesses and listing it on the stock market.China National Chemical Corp (ChemChina), as the state-owned firm is officially called, is selling Adama to Hubei Sanonda Co Ltd for about 18.6 billion yuan ($2.8 billion), Sanonda said. Click here to read full stories.
Sep 15 - NOPA soy crush seen at August record of 136.2 million bushels - Poll
U.S. soybean processors likely cut back on their pace of crushing during August as some processors shut down for seasonal maintenance to ensure plants would be ready to handle the influx of beans from the upcoming harvest, analysts said.The National Oilseed Processors Association (NOPA), the largest U.S. trade group for the industry, is expected to report that its members crushed 136.233 million bushels of soybeans in August, based on the average of estimates by six analysts. Click here to read full stories.
Sep 15 - Argentina seen planting 5.7 mln hectares corn in 2016/17 - exchange
Argentine farmers will plant 5.7 million hectares with corn in the 2016/17 season, 18 percent more than in 2015/16, the Rosario grains exchange said on Wednesday in its monthly crop report.The exchange said it expected 2016/17 corn production at 33 to 35 million tonnes. It also increased its estimate of the 2015/16 corn crop to 29.5 million tonnes from 27 million. Click here to read full stories.
Sep 15 - Low volume, poor quality to slash French wheat exports - FranceAgriMer
Adverse weather that slashed the volume of France's soft wheat harvest this year also hit its milling qualities, FranceAgriMer said on Wednesday, with average specific weight falling below the estimated minimum level to make flour.This could prevent the European Union's traditional top wheat exporter to reach some of its international markets, which use the criteria as a key part of their requirements, it also said. Click here to read full stories.
Sep 15 - Brazil's BRF aims to lock in corn supplies after crisis - CEO
Brazilian processed foods maker BRF SA is making forward purchases of corn, the main ingredient in animal feed, after high costs related to a shortage of the grain squeezed margins, its chief executive said.Record exports in 2015 combined with drought early in the year drained corn supplies on the local market and sent Brazilian pork and poultry producers into crisis this year. Click here to read full stories.
Sep 15 - Russia says Egypt's policy won't significantly affect wheat exports - Interfax
Egypt's policy over wheat supplies will not significantly affect Russia's wheat exports, Interfax news agency quoted Russia's Agriculture Ministry's official as saying on Wednesday.Vladimir Volik, the head of the ministry's department for agriculture markets regulation, added that the ministry together with Russia's food safety watchdog was currently looking for ways to solve the issue and were searching for additional markets for Russian wheat. Click here to read full stories.
Sep 15 - India's 2016 monsoon rains could be below average - forecasters
Monsoon rains in India, the world's second-biggest producer of rice and sugar, could be lighter thanaverage this year in the absence of the La Nina weather pattern, two senior officials at the state-run weather department said on Wednesday.Rainfall in September could be up to 15 percent less than average, said the officials from the India Meteorological Department (IMD) who declined to be identified because they were not authorised to speak to the media. Click here to read full stories.
Sep 15 - Brazil's Minerva cleared to ship fresh beef to United States
Brazilian meat packer Minerva SA said in a filing on Wednesday that it had received authorization from the Agriculture Ministry and the U.S. Department of Agriculture for two of its plants to begin shipping fresh beef to the United States.Brazil has long been a major supplier of cooked beef to North America but it has been shut out of the U.S. fresh beef market. Gaining access to it was expected to open doors to other markets that are hard to enter such as Japan. Click here to read full stories.
Sep 15 - Asian Crude palmoil Opens a Tad Higher In Line with Rival Oils (Dow Jones)
Asian crude palm oil prices recover from losses to open a bit higher Thursday supported by gains in competing vegetable oils. Vegetable oils including soybean oil is used as a substitute for palm-oil, so the prices often move together. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange are currently reading 2 ringgit higher at 2566 ringgit a ton.
Sep 14 - Asian Crude Palmoil Slide Lower on Demand Concerns (Dow Jones)
Asian crude palm-oil prices ended lower on Wednesday on persistent worries of a decline in demand and a rise in production. "The momentum seems to be weakening after recent seasonal buying," said David Ng, analyst at Philip Futures at Kuala Lumpur. He expects prices to trade between 2520 ringgit a ton and 2650 ringgit a ton in the next few days. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange ended 24 ringgit lower at 2568 ringgit a ton on Wednesday.
Sep 14 - Bayer nears acquisition of Monsanto - sources
Chemicals and healthcare group Bayer AG is poised to announce the acquisition of U.S. seeds company Monsanto Co on Wednesday for more than $66 billion, clinching the biggest deal of the year, people familiar with the matter said.By accepting Bayer's offer, the largest cash acquisition proposal on record, Monsanto is set to give the German company a shot at grabbing the top spot in the fast-consolidating farm supplies industry, combining its crop science business with Monsanto's strength in seeds. It will also set the stage for the deal to be closely scrutinized by antitrust regulators. Click here to read full stories.
Sep 14 - U.S. challenges China wheat, rice, corn price supports at WTO
The United States on Tuesday launched a challenge to China's price supports for domestic wheat, corn and rice at the World Trade Organization, charging that these far exceed limits that China committed to when it joined the WTO in 2001.The move opens a new front in the increasingly tense trade relations between the world's two largest economies, with disputes ranging from Chinese overcapacity in steel and aluminum to Chinese anti-dumping duties on American broiler chickens. Click here to read full stories.
Sep 14 - Argentina considers postponement of planned soy tax cut
Argentina's government is mulling postponing a tax cut planned for next year on soy exports, cabinet chief Marcos Pena said on Tuesday, as a recession in Latin America's third largest economy eats into fiscal revenue.He also expressed optimism over talks with Britain about flights to the Falkland Islands from the mainland, but said negotiations over oil exploration in the area would take more time. Click here to read full stories.
Sep 14 - Argentina says 2016/17 wheat crop seen at least 15 mln tonnes
Argentine farmers are expected to harvest at least 15 million tonnes of wheat in the 2016/17 crop year versus 11.3 million in the previous season, Agriculture Minister Ricardo Buryaile said on Tuesday.Wheat planting in Argentina expanded dramatically when President Mauricio Macri eliminated export taxes soon after his December inauguration. He was elected last year on a platform of dismantling the strict controls that the previous government had placed on Latin America's No. 3 economy. Click here to read full stories.
Sep 14 - Russia may ban Egyptian citrus amid wheat dispute
Russia threatened to ban Egyptian citrus imports on Tuesday, a move that could escalate a trade dispute over exports of Russian wheat to the world's largest importer of the grain.Moscow said this week it hopes to hold talks with Egypt, its top buyer, over Cairo's failure to approve Russian wheat shipments since tightening its regulations on ergot, a common grains fungus, in late August. Click here to read full stories.
Sep 14 - India monsoon rains to start withdrawing in 3-4 days - weather office
India's June-September monsoon rains could start withdrawing from the north-western region of the country in the next 3-4 days, the weather department said on Tuesday.The monsoon usually starts withdrawing in the first week of September, but this year it has been delayed by nearly two weeks."Conditions are becoming favourable for withdrawal of Southwest monsoon from some parts of West Rajasthan (in north-western India) during next 3-4 days," the India Meteorological Department said. Click here to read full stories.
Sep 14 - Worries About Over-Production Drag Down Asian Crude Palmoil (Dow Jones)
Asian crude palm oil future prices open weaker in early trade amid concerns of weak demand. Worries of over production will continue to hassle investors, impacting prices, says a Kuala Lumpur-based analyst. Overall the mood of the market will stay bearish until demand improves, he adds. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange are trading 34 ringgit lower at 2558 ringgit a ton on Wednesday.
Sep 13 - Asian CPO Closes Lower on Report of Rising Malaysia Production (Dow Jones)
Asian crude palm oil prices closed lower, following a reported rise in production from Malaysia. The Malaysian Palm Oil Board said in a report that Malaysia's palm oil exports rose 30.9% on month to 1.81 million metric tons in August. The Bursa Malaysia benchmark three-month contract ended down 46 ringgit per ton at MYR 2640/ton, having hit a low of MYR 2591/ton.
Sep 13 - Fertilizer majors Potash and Agrium to merge, face tough scrutiny
Canadian fertilizer producers Potash Corp of Saskatchewan Inc and Agrium Inc agreed to combine to navigate a severe industry slump by boosting efficiency and cutting costs, but the new company's potential pricing power may attract tough regulatory scrutiny. The proposed all-stock tie-up comes as industry profits have fallen due to excessive supply and soft farm incomes. It would combine Potash's crop nutrient production capacity, the world's largest, with Agrium's farm retail network, North America's biggest, plus its own potash mine and fertilizer plants. Click here to read full stories.
Sep 13 - U.S. soybean production gains outpace stellar demand growth
Record demand for soybeans has paled in comparison to the expected sharp gains in supply, which will leave U.S. farmers and commercial operators with a growing stockpile of the oilseed even as exports and crushings continue to rise. The U.S. Agriculture Department on Monday raised expected demand for U.S. soybeans during the 2016/17 crop year by 35 million bushels, of which 25 million for exports and 10 million for crushings. Click here to read full stories.
Sep 13 - CME's new EU wheat futures trade in debut session
CME Group's long-planned European Union wheat futures generated trade on their debut session on Monday, a first step towards building liquidity in a market dominated by Euronext. CME aims to expand in the EU, which is collectively the world's biggest wheat production zone, by offering similar delivery and trading features to its Chicago Board of Trade (CBOT) futures, the global benchmark for grain markets. Click here to read full stories.
Sep 13 - USDA cuts 2016/17 sugar supply forecast amid lower imports
The U.S. Agriculture Department on Monday slashed projections for sugar supplies in the upcoming 2016/17 crop year on lower imports from Mexico, in a monthly forecast largely seen as within expectations. The closely watched stocks-to-use ratio stood at 13.5 for the 2016/17 crop year that begins on Oct. 1, down from 15.4 last month and also down from 16.3 in the previous marketing year. Click here to read full stories.
Sep 13 - Russian wheat prices down on weak global benchmarks, Egypt
Russian wheat export prices fell for a third week following a decline in global benchmarks and delayed supplies to Egypt, the world's largest buyer, analysts said on Monday. Moscow is seeking talks with Cairo over Egypt's recent delays in approving Russian wheat shipments, Russia's food safety watchdog Rosselkhoznadzor said earlier. Click here to read full stories.
Sep 13 - France cuts maize, wheat crop estimates, sugar beet seen down
France's farm ministry on Monday lowered its outlook for the upcoming grain maize harvest to 12.5 million tonnes from 13.5 million forecast last month after hot, dry weather hurt crops in the European Union's biggest grain grower. The revised estimate was 7.0 percent below last year's production and 18.7 percent lower than the average of the past five years. It was based on an average yield of 8.50 tonnes per hectare (t/ha), down from 9.02 t/ha expected last month and now below last year's weather-hit yield of 8.61 t/ha. Click here to read full stories.
Sep 13 - India to build buffer stock of 2 million tonnes of pulses
India on Monday approved the creation of buffer stock of 2 million tonnes of pulses as the world's biggest producer of the protein-rich food grains is set to harvest record crops. Government agencies will procure 1 million tonnes of pulses from farmers while 1 million tonnes will be imported, the government said in a statement. Click here to read full stories.
Sep 13 - Ukraine state fund backs cutting Odessa plant's reserve sale price to below $200 mln
The head of Ukraine's State Property Fund said on Monday he will recommend more than halving the reserve price for the flagship privatisation of the Odessa Portside Plant (OPP) to below $200 million. The auction of the state-run fertiliser group is the first major privatisation since a 2014 uprising brought in a pro-Western leadership in Ukraine. Click here to read full stories.
Sep 13 - Australian billionaire miner in cattle station manoeuvres
Australian mining billionaire Andrew Forrest has used his private company to apply for thousands of square kilometres of mineral exploration rights over his cattle stations, adding a new twist to an age-old battle between farmers and miners. While farmers have often tried to keep miners off their land, citing factors such as stressed cattle or damaged water quality, Forrest has taken out exploration rights over much of his pastoral leases, on some occasions rolling them over between controlled companies, so-called "land banking". Click here to read full stories.
Sep 13 - Asian Crude Palm Oil Poised to Open Lower (Dow Jones)
Asian crude palm oil is expected to open lower ahead of a key report from the Malaysia Palm Oil Board due at 0430 GMT. "The market is trying to liquidate positions" ahead of time, says David Ng, a Kuala Lumpur-based derivatives specialist at Phillip Futures. He adds overnight weakness in the soybean market, particularly for seaborne, is likely to weigh.
Sep 12 - Australia's 2016/17 wheat crop to be biggest in 5 years - Reuters survey
Australia is expected to produce a near-record 28 million tonnes of wheat from its upcoming harvest, the biggest in five years, as ideal weather during the growing season lifts yields in the world's No.4 exporter of the grain, a Reuters survey showed.A large Australian wheat crop, in a world market already flush with supplies following a bumper output in the northern hemisphere, could further drag on global benchmark prices of the grain and ensure cheap food supplies for Asian buyers. Click here to read full stories.
Sep 12 - CME says has 16 French silos ready for EU wheat futures launch
CME Group has finalised agreements to add more delivery points for its European Union wheat futures, with 16 silos now lined up in northern France ready for Monday's launch, it said on Friday.CME, which owns the Chicago Board of Trade (CBOT), is entering the world's biggest wheat production area in a challenge to the European benchmark status of Euronext's milling wheat contract. Click here to read full stories.
Sep 12 - Slumping U.S. meat prices help feed appetite for jerky
With prices for U.S. livestock on the decline due to larger cattle and hog herds, meat processors are jumping on the jerky bandwagon.In recent years, dried-meat snacks have gained popularity as Americans embrace diets packed with protein and less sugar and fat. Jerky has overcome its image as a highly salted pseudo-food found at gas stations and convenience stores. Click here to read full stories.
Sep 12 - China imports will keep U.S. soybean market on its toes - Braun
When it comes to assessing demand for U.S. soybeans, never underestimate the Chinese.China's penchant for the oilseed has mushroomed in recent years, complementing growth in the country's livestock sector, particularly pork. As the world's largest soybean consumer, China will use over 40 percent more soybeans than the world will have in storage next year. Click here to read full stories.
Sep 12 - Canada, China officials to meet next week on canola dispute
Canadian and Chinese officials held productive talks last week on a dispute over canola exports and will meet again next week, Trade Minister Chrystia Freeland told reporters on Friday."There will be more face-to-face negotiations next week," she said. China agreed on Aug. 31 to delay introducing stricter rules on canola shipments from Canada while both countries tried to settle the matter. Click here to read full stories.
Sep 12 - Romania says wheat cargo met Egypt ergot rules when bought
The ergot fungus content of a rejected Romanian wheat cargo destined for Egypt was far below permitted levels when contracted, Romania's agriculture ministry said on Friday.Romanian trading house Cerealcom Dolj said on Thursday it had declined to ship the 63,000-tonne cargo due to a zero tolerance policy adopted by Egypt in late August. Click here to read full stories.
Sep 12 - Ukraine to relaunch privatisations, start with Odessa fertiliser plant - finmin
Ukraine plans to relaunch its stalled privatisation process, Finance Minister Oleksandr Danylyuk said on Friday, adding the Odessa fertiliser plant would be first in line for sale after an initial effort failed in July.Ukraine plans to privatise hundreds of state-owned enterprises as part of a reform programme supervised by the International Monetary Fund, but recent efforts, including with the Odessa plant, have come to nought. Click here to read full stories.
Sep 12 - This Monday, Malaysia Public Holiday "Hari Raya Haji" - National
Sep 09 - Asian CPO Closes Higher on Hopes of Stockpiles Cut
Asian crude palm-oil prices ended Friday's session higher, lifted by expectations of a fall in palm-oil stocks ahead of a key crop report due next week. Plus, traders are also "closing short positions ahead of the long weekend," says David Ng, analyst at Philip Futures in Kuala Lumpur. He expects prices to trade between 2580 ringgit a ton and 2680 ringgit a ton during the next few days. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange rose 46 ringgit to 2,655 ringgit a ton.
Sep 09 - Brazil's 2016-17 soybean crop seen at record 103.1 mln tns - survey
Brazil's 2016-17 soybean crop showed the world's largest exporter of the commodity is expected to harvest a record 103.1 million tonnes early next year, an average of 12 forecasts showed, surpassing this season's output by 8 percent.In July, a survey of seven forecasts put the coming crop at 103.8 million tonnes. On Tuesday, Brazil's crop supply agency Conab at the Agriculture Ministry estimated Brazil's 2015/2016 soybean crop at 95.4 million tonnes in its 12th forecast. Click here to read full stories.
Sep 09 - Trader to re-export wheat shipment it could not unload in Egypt
Grain trading company Medsofts plans to re-export a shipment of 31,000 tonnes of Russian wheat it has been unable to unload in Egypt since July because of confusion about checks for the ergot fungus, a company official said on Thursday.The dispute over changing Egyptian regulations about wheat with the fungus has severely disrupted Egyptian wheat imports with a series of shipments rejected. Egypt is the world's largest wheat importer. Click here to read full stories.
Sep 09 - Summer drought takes further toll on EU maize harvest
Hot, dry weather over the past two months has damaged European Union maize (corn) crops and this year's harvest is now expected to be almost as bad as in 2015 when production was also hit by drought.Consultancy Strategie Grains plans to downgrade its grain maize harvest forecast in its monthly report next week due to take account of dry weather damage in large producing countries such as France, Romania, Bulgaria and Poland, analyst Benoit Fayaud told Reuters. Click here to read full stories.
Sep 09 - Asian buyers switch to Australian wheat as prices decline
Flour millers in Asia are switching to Australian wheat as a decline in the Pacific nation's grain prices has made cargoes more competitive, a setback for Black Sea suppliers who had been gaining market share in the region.In the past 10 days, mills in Asia have signed deals to import up to 400,000 tonnes of new-crop Australian wheat for shipment between December and January, three trade sources said. Click here to read full stories.
Sep 09 - Brazil sees agriculture export growth after Asian meetings
Brazil expects a series of meetings with Asian government and business officials to yield an increase in sales of pork, beef and other commodities as the agriculture powerhouse looks to boost exports, Agriculture Minister Blairo Maggi said in an interview on Thursday.Brazil signed nine business deals with China last week as newly-instated President Michel Temer attended the G20 leaders meeting in Hangzhou, his first global event after the impeachment of his predecessor Dilma Rousseff. Click here to read full stories.
Sep 09 - U.S. weather forecaster says La Nina no longer likely in fall, winter
A U.S. government weather forecaster said Thursday La Nina conditions were no longer likely to develop during the Northern Hemisphere fall and winter 2016/17, saying neutral conditions were more likely.The Climate Prediction Center (CPC), an agency of the National Weather Service, said in a monthly forecast there was a 55 to 60 percent chance of El Nino-Southern Oscillation (ENSO) neutral conditions, meaning La Nina was no longer favored to occur. Click here to read full stories.
Sep 09 - CME Group amends lean hog futures settlement rules
The CME Group Inc, the world's largest livestock futures exchange, will adjust rules governing lean hog futures settlement procedures to include negotiated formula purchases, the exchange said on Thursday.The change is effective on Oct. 12 pending regulatory review by the Chicago Futures Trading Commission. Click here to read full stories.
Sep 09 - No end in sight for South Africa's historic drought - government
South Africa remains in the grip of a drought that is not expected to ease soon, a government task team said on Thursday, putting pressure on inflation as the cost of staple foods soars.The long-range forecast showed below normal rainfall expected and "therefore little relief is anticipated in the coming months," local government minister Des van Rooyen, chairman of an inter-ministerial task team on drought, told a media briefing in Cape Town. Click here to read full stories.
Sep 09 - Russian Acron in talks to sell stake in Azoty back to Poland -sources
Russian fertiliser maker Acron is in talks with Poland's treasury ministry on selling its stake in the country's biggest chemicals group, state-run Azoty, two sources familiar with the situation said.Acron tried to buy a controlling stake in Azoty Tarnow in 2012 but Poland considered the move a hostile takeover and blocked the bid by merging Azoty with state-run rivals. Click here to read full stories.
Sep 09 - Asian Crude Palm Oil Opens Higher (Dow Jones)
Asian crude palm-oil prices open slightly higher on gains in soybean-oil prices. Traders say investors will remain cautious ahead of a key crop report due early next week. Concerns about overproduction have kept market sentiment a bit low the last few days. November palm-oil futures on the Bursa Malaysia Derivatives Exchange opened up MYR15 at MYR 2629/ton.
Sep 08 - Asian CPO Closes Higher on Hopes of Firmer Overseas Demand (Dow Jones)
Asian palm-oil price futures ended higher on Thursday, supported by a brighter outlook for exports. "The market is upbeat on robust export expectations," said a Kuala Lumpur-based trader, referring to export estimate data from cargo surveyors Intertek and SGS for the first 10 days of September due to be released later this week. Palm oil also found support from related vegetable oils including soybean oil, which is used as a substitute for palm oil, so the prices often move in tandem. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange closed up 19 ringgit at MYR2617 a ton Thursday.
Sep 08 - Egypt's ergot saga deepens as wheat rejected in Romania
Egyptian state inspectors have rejected a 63,000 tonne shipment of wheat at its Romanian port of origin after checking for ergot, the first time Egypt has rejected a cargo at source since taking a zero tolerance stance against the common grain fungus.Egypt, the world's largest wheat importer, last week reinstated its hard-line stance despite the policy having made grain purchases difficult earlier this year. Click here to read full stories.
Sep 08 - U.S. harvest begins, though yield still up in the air - Braun
Now that the calendar has turned to September, U.S. combines will begin rolling to collect the world’s largest corn and soybean crops, but meaningful harvest results are unlikely to surface until November.On Monday, the U.S. Department of Agriculture’s statistics agency will update its monthly crop production report. This includes potential adjustments to the initial U.S. corn and soybean yield estimates released last month. Click here to read full stories.
Sep 08 - Canadian canola, wheat stocks shrink less than expected
Canadian canola and wheat stockpiles were sharply lower in midsummer from a year earlier, the smallest in three years, but bigger than expected, a Statistics Canada report showed on Wednesday.Statscan pegged the all-wheat stocks as of July 31 at 5.2 million tonnes, down27 percent from a year ago but far exceeding the average trade expectation of 4.29 million tonnes. Click here to read full stories.
Sep 08 - Philippines to import additional 800,000 tonnes of rice
The Philippines' state grains agency said on Thursday it is set to accept applications from private traders to import up to 805,200 tonnes of rice, more than two-thirds of which must come from Thailand and Vietnam.The National Food Authority (NFA), the agency regulating rice importation, said traders can ship in up to 293,100 tonnes each from Thailand and Vietnam, with the rest to come from other countries not later than Feb. 28, 2017. Click here to read full stories.
Sep 08 - China corn crop to fall 2.3 pct in 2016 - think-tank
China's 2016 corn harvest will drop 2.3 percent from the year before to 201.5 million tonnes, said an official think-tank, with farmers planting less of the grain following a change in government support.Planted acreage in the world's No.2 corn producer will fall almost 5 percent to 36.3 million hectares, said the China National Grain and Oils Information Centre, but yields are expected to increase to 6 tonnes per hectare, up by 162 kg from last year. Click here to read full stories.
Sep 08 - French wheat quality survey confirms high protein, low density
Farm office FranceAgriMer left wheat quality ratings nearly unchanged in its latest survey released on Wednesday, with the 2016 harvest in the EU's largest producer still expected to show particularly high protein and poor grain density. The update, carried out with technical institute Arvalis, was based on samples gathered by Sept. 5, representing about 90 percent of the total samples due to be collected in the survey. Click here to read full stories.
Sep 08 - French farmers reach deal with Carrefour on beef prices
French cattle farmers on Wednesday agreed a deal on prices with Europe's biggest retailer Carrefour, beef farmers group FNB said, after following the example of dairy farmers who held protests to secure higher milk prices from Lactalis. FNB head Jean-Pierre Fleury said Carrefour had given a "firm and definitive commitment" to ensure farmers are paid at levels covering their production costs for quality fresh beef. Click here to read full stories.
Sep 08 - Asian Crude Palmoil Rises on Hopes of Better Demand (Dow Jones)
Asian crude palm oil prices recover from losses, opening a tad higher on Thursday on expectations of better demand. Cargo surveyors Intertek and SGS are due to release export estimates for palm oil for the first 10 days of September later this week, and the market is looking for positive numbers. But worries on over production will continue to weigh on investor sentiment. "Production may be on the rise and demand weaker," says David Ng, analyst at Philip Futures in Kuala Lumpur. He expects palm oil prices to trade between 2520 ringgit a ton and MYR2650 a ton. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange is currently trading MYR6 higher at MYR2604 ringgit a ton.
Sep 07 - Asian Crude Palmoil Ends Lower on Weaker Rival Oils (Dow Jones)
Asian crude palm-oil prices ended lower on Wednesday, weighed by a fall in competing vegetable oils. Soybean oil is used as a substitute for palm oil so their prices often move together. Worries of a rise in palm-oil output are also hurting market sentiment. Cargo surveyors Intertek and SGS are expected to release export estimates for the first 10 days of this month later this week. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange settled 30 ringgit lower at MYR 2,599 a ton.
Sep 07 - Indian output of pulses to hit record high, drag on prices - industry
India's production of summer-sown pulses is likely to surge to a record high this year, dragging down prices of the protein-rich food grains after last year's sharp rally that prompted farmers to increase area under cultivation, industry officials said.Higher output by the world's top consumer and importer of pulses could help Asia's No.3 economy rein in its headline inflation that hit a near two-year high in July on double-digit annual increases in prices of sugar, vegetables and pulses. Click here to read full stories.
Sep 07 - Canadian farmers' debt seen hitting fresh record high: lender
Canadian farmers' debt will likely reach another record high this year, while land appreciation slows and incomes flatten, but the industry is still in strong financial shape, the country's biggest agriculture lender, Farm Credit Canada, forecast on Tuesday.Farm Credit (FCC), a government corporation, sounded a note of caution for farmers, who have racked up debt to record highs for 22 straight years. Canada is one of the world's biggest wheat exporters and the largest global canola trader. Click here to read full stories.
Sep 07 - Canadian wheat stocks seen smallest ever, canola pile shrinks
Canada's wheat stockpile shrank to its smallest mid-summer level on record and canola supplies also fell sharply year over year, a Reuters trade survey estimated ahead of a government crop report.Bumper crops are expected to replenish supplies this autumn, however, in the world's No. 6 wheat producer and biggest canola grower. Click here to read full stories.
Sep 07 - Thailand sells 755,000 T of rice in August auctions
Thailand sold 755,012 tonnes of rice from state stockpiles in two auctions in August, the commerce ministry said on Wednesday, as the country looks to eliminate stockpiles built up under the previous administration.
The world's second-biggest rice exporter after India has stocks of about 9 million tonnes after buying rice from farmers at prices exceeding global rates under a scheme put in place by ousted former Prime Minister Yingluck Shinawatra. Click here to read full stories.
Sep 07 - Indian scientist develops GM cotton after success with mustard
An Indian scientist whose team has developed a genetically modified (GM) mustard variety that is inching towards a possible commercial launch said he could soon hand to a state agency a GM cotton variety that can rival Monsanto's seeds.Deepak Pental and his colleagues at the Delhi University worked on GM mustard for around a decade, and a government committee said on Monday it found the seeds to be safe for "food/feed and environment". Reuters reported the technical clearance last month for what could be the country's first GM food crop. Click here to read full stories.
Sep 07 - French farmers target Carrefour over beef prices
French cattle farmers launched protests against Carrefour on Tuesday to demand higher beef prices from Europe's biggest retailer, in the latest sign of tension in the livestock sector after a price row involving dairy giant Lactalis.Beef producers in France have been struggling for years in the face of declining consumption. Prices have been dented further this year by a downturn in the dairy market, which has led farmers to send more dairy cows for slaughter. Click here to read full stories.
Sep 07 - Argentina biodiesel exports surge as sales to U.S. grow
Argentina's biodiesel exports could increase by up to 80 percent in 2016 from a year earlier to 1.4 million tonnes thanks to growing sales to the United States, industry representatives said. Argentina is a leading exporter of the biofuel but shipments have lagged in recent years because of anti-dumping duties imposed by the European Union. Click here to read full stories.
Sep 07 - Global dairy prices push higher in overnight auction
International milk prices rose in the overnight Global Dairy Trade auction as the dairy sector continues to show signs of improvement.The GDT Price Index, which covers a variety of products and contract periods, climbed 7.7 percent, with an average selling price of $2,920 per tonne, in the auction held on Tuesday. Click here to read full stories.
Sep 07 - Asian Crude Palmoil Set to Open Lower in Wednesday Trade (Dow Jones)
Asian crude palm oil prices are will likely open down, on weak investor sentiment on concerns of strong production. Traders will be waiting to see how palm oil exports perform, when data are released later in the week. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange settled 15 ringgit lower at MYR2629 a ton on Tuesday.
Sep 06 - Asian Crude Palmoil Ends Down on Profit Taking (Dow Jones)
Asian crude palm-oil prices ended lower Tuesday, on profit taking after a recent price rally. The expectations of rising palm-oil production are keeping investor sentiment "at watch," says David Ng, analyst at Philip Futures brokerage in Kuala Lumpur. He expects prices to trade between 2,580 ringgit a ton and MYR2,680 a ton this week. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange last traded MYR12 lower at MYR2,632 a ton Tuesday.
Sep 06 - Bayer sweetens Monsanto bid as talks enter final stretch
German pharmaceutical and crops manufacturer Bayer AG said on Monday that its negotiations with Monsanto Co had advanced, and that it was now willing to offer more than $65 billion to acquire the world's largest seeds company.Bayer's announcement came as the gap in price expectations between the two companies has narrowed significantly, although important terms, including potential divestitures in case of antitrust scrutiny, have yet to be agreed on. Click here to read full stories.
Sep 06 - Health ministry decision makes zero ergot Egypt's new normal
Egypt's health ministry banned wheat with any ergot fungus on Monday, a decision traders said signals the zero tolerance policy that wreaked havoc on the country's grain purchases earlier this year is back to stay.The decree, seen by Reuters, brings the ministry in line with an agriculture ministry decree issued last week reinstating the ergot ban, a policy that previously hampered the world's largest wheat buyer's ability to import grain. Click here to read full stories.
Sep 06 - EU wheat drifts lower amid U.S. holiday lull, Algeria tender eyed
European wheat futures slipped on Monday as a U.S. holiday deprived the market of its usual impetus and as traders looked ahead to a tender by Algeria for more clues about how a poor French harvest will shake up export markets.Benchmark December milling wheat on Paris-based Euronext, was down 0.50 euro, or 0.3 percent, at 161 euros a tonne by 1544 GMT, near a six-week low of 160 euros touched last Tuesday. Click here to read full stories.
Sep 06 - Brazil judge orders JBS CEO and others to step away from companies
The Brazilian judge overseeing a sweeping graft probe of state-run companies' pension funds ordered on Monday that dozens of business leaders and financiers under investigation step away from their corporate roles, including the chief executive of the world's biggest beef exporter JBS SA. Click here to read full stories.
Sep 06 - Low water hampers Rhine and Danube river shipping in Germany
Low water levels after recent dry weather are preventing cargo vessels from sailing fully loaded on the Rhine and Danube rivers in Germany, traders said on Monday.Low water is hampering shipping on most of the Rhine between Duisburg, Cologne and Mainz, traders said. Click here to read full stories.
Sep 06 - Asian Crude Palmoil Supported by Moves Higher in Oil, Soybeans (Dow Jones)
Asian crude palm oil remains well supported by moves higher in crude oil and Chicago Board of Trade soybean prices, says a Singapore-based trader. He notes that there is some tightness in supply in the near term and this is providing some support for prices as well. The Bursa Malaysia benchmark 3-month palm oil contract is up 7 ringgit a ton at MYR 2651 per ton.
Sep 05 - Asian CPO Remains Strong On Concerns About Near Term Supply (Dow Jones)
Asian crude palm oil prices remain strong, supported by concerns of a shortage in supply in the near term in the market. Palm oil hasn't picked up as quickly as markets had expected following the dry conditions earlier this year related to El Nino, while demand from both China and India remains strong as they let stocks run down. The Bursa Malaysia benchmark 3-month contract ended up 49 ringgit per ton at MYR2644/ton, having touched a high of MYR2658/ton.
Sep 05 - Canada fertilizer merger faces easier approval at home than in U.S.
Canada's Potash Corp of Saskatchewan and Agrium Inc are more likely to win approval for a potential merger in Canada than the United States, but U.S. rejection of the deal would scuttle it globally, competition lawyers said.Potash and Agrium confirmed merger talks on Tuesday, a deal that would create a fertilizer and farm-retailing giant. Click here to read full stories.
Sep 05 - China targets 56 pct rise in soybean output by 2020 - NDRC
China, the world's top buyer of soybeans, is aiming to lift its output of the oilseed to 18.9 million tonnes by 2020, up 55.6 percent from 2014 levels, as it strives to meet growing demand while raising rural incomes.China also wants to increase its output of rapeseed and peanuts, also major food oils for Chinese consumers, said the National Development and Reform Commission (NDRC), the country's top policy-making body, in a report on Friday. Click here to read full stories.
Sep 05 - India soon to make GM mustard stance public, develop more varieties
The Indian government will soon make public its stance on allowing the commercial cultivation of genetically modified (GM) mustard - what could be its first transgenic food crop - and "ideology" will not influence the decision, a minister said.The mustard variety has been developed by a group of New Delhi scientists over the past decade, and Environment Minister Anil Madhav Dave said India would also come up with other GM food as its population increases and arable land shrinks. Click here to read full stories.
Sep 05 - Korean firm burns rainforest for palm oil in Indonesia, report says
A South Korean-owned company is cutting down primary rainforests for timber and then setting fires to clear the land to plant oil palm in apparent violation of Indonesian law, according to an investigation by environmental groups.The investigation points to "systematic and widespread use of fire" by the Jakarta-based Korindo Group PT, which adds to the pall of smoky haze choking large parts of Southeast Asia during the annual dry season, the environmental groups said in a report published on Thursday. Click here to read full stories.
Sep 05 - China faces chicken shortage as ban on U.S. breeder bird imports bites
China's near two-year ban on U.S. imports of chickens used for breeding is threatening supplies of chicken meat in the world's second-largest poultry market, leading to the first shortfall in at least a decade and potentially pushing up prices.China relies on imported breeding stock for production of white-feathered broiler chickens, the type used by fast-food chains, which account for more than half the country's chicken supply. Click here to read full stories.
Sep 05 - Interim waste water report prolongs uncertainty for K+S
The interim results of a German environmental regulator's probe into waste water discharge by K+S will keep the potash mining company in limbo, with hundreds of thousands of tonnes of potential potash production at risk.Authorities in the city of Kassel, where K+S is headquartered, are working on a computer model to predict the impact on drinking water caused by K+S's facilities, and preliminary results from March this year pointed to unacceptably high salt levels, a spokesman for the regulator said. Click here to read full stories.
Sep 05 - Asian Crude Palmoil Higher as Shortage Concerns Remain (Dow Jones)
Asian crude palm oil is trading sharply higher as concerns remain about a shortage of supply in the near term as plantations take longer than expected to recover from dry conditions associated with El Nino, says a Kuala Lumpur-based trader. He says Bursa Malaysia futures contracts are also being supported by strength in Dalian palm oil contracts, which have rallied strongly. The Bursa Malaysia 3-month palm oil contract is trading up 57 ringgit at 2652 ringgit a ton.
Sep 02 - Asian Crude Palmoil Closes Higher on Stronger Exports (Dow Jones)
Asian crude palm oil prices end stronger Friday, supported by robust exports performance. Improved demand from top buyers India and China have brightened the market sentiment, traders say. David Ng, analyst at Philip Futures in Kuala Lumpur, expects prices to trade between 2400 ringgit a ton and MYR2580 a ton in the next few days. The Bursa Malaysia benchmark palm oil contract last traded MYR65 higher at MYR2585 a ton.
Sep 02 - Indian wheat supplies tight, may boost low global prices
Wheat traders and industry representatives in India expect the country to step up international purchases significantly over the coming months, providing a potential boost to global prices languishing near 10-year lows.Production in the last two years has fallen well below the peak of 2014/15, reducing stocks to the lowest level in nearly a decade and pushing domestic prices close to record highs. Some traders expect them to climb still further this year. Click here to read full stories.
Sep 02 - Why every bushel of corn matters for U.S. balance sheet -Braun
The United States will certainly harvest a huge corn crop in 2016, so it hardly matters if yield falls by a couple of bushels, right? Actually, it does.Without dissecting the balance sheet and crunching the numbers, it might be hard to understand why slight variations in yield make a big difference in domestic supply. Click here to read full stories.
Sep 02 - Malaysia aims to "harmonise" palm oil export duty plan with Indonesia - minister
Malaysia aims to "harmonise" its palm oil export duty plan with the more competitive Indonesian levies in a bid to win global market share, a Malaysian minister said in first ever official remarks on what the country's palm sector has long been seeking.Malaysia has always trailed Indonesia as the world's No.2 producer and exporter of palm oil mainly because of lower land and labour costs in its larger Southeast Asian neighbour. Click here to read full stories.
Sep 02 - FranceAgriMer trims wheat quality levels, protein still high
The latest survey of the quality of French soft wheat crops showed slightly lower density and protein levels than last week although the latter remained well above average, farm office FranceAgriMer said.The report carried out in tandem with technical institute Arvalis was on samples gathered by Aug. 29 and included most of northern France, unlike last week's survey. About 80 percent of the expected samples from growing regions have now been tested. Click here to read full stories.
Sep 02 - Brazil soy planting seen limited by tight credit, weather - FCStone
Brazil producers are not expected to plant significantly more area with soy in the new crop due to tight credit amid the country's worst recession in decades and the prospect of erratic weather, analysts at INTL FCStone said on Thursday.Farmers are expected to plant 33.56 million hectares (82.9 million acres) with soy in 2016-17, an increase of just 315,000 hectares, or 0.9 percent, over this year's crop, the brokerage and consultancy said at a conference in Sao Paulo. Click here to read full stories.
Sep 02 - U.S. July soybean crush falls to 4.604 million tons - USDA
The U.S. Department of Agriculture said on Thursday that U.S. processors crushed 4.604 million tons of soybeans during July, down from 4.624 million tons during June. Analysts, on average, had been expecting the July crush to come in at 4.596 million tons, or 153.2 million bushels. A year ago, the crush totaled 4.673 million tons. Click here to read full stories.
Sep 02 - Agrium unit to divest some stores in Canada farm retail deal
Crop Production Services (CPS), a farm retail subsidiary of fertilizer producer Agrium Inc, has agreed to sell four Alberta stores to resolve competition concerns around its proposed purchase of smaller rival Andrukow Group Solutions, Canada's antitrust regulator said on Thursday. CPS agreed in April to buy Andrukow's 17 farm retail stores in the Canadian province of Alberta and one in Saskatchewan, for an undisclosed price. Click here to read full stories.
Sep 02 - Asia Crude Palmoil bounces Following Moves in Crude Oil (Dow Jones)
Asian crude palm oil bounces higher in early trading, following a rally in crude oil. Crude oil prices are trading higher largely due to bargain hunting in the market coupled with optimism following better than expected Chinese manufacturing data. The Bursa Malaysia benchmark palm oil contract is trading up 49 ringgit at MYR2569 a ton.
Sep 01 - Asian CPO Closes Lower Tracking Rival Oils, Weaker Demand (Dow Jones)
Asian crude palm-oil prices ended slightly lower Thursday, guided by lower competing vegetable oil and lower demand for palm oil. Soybean oil is used as a substitute for palm-oil so the prices often move together. Cargo surveyor Intertek released palm-oil export estimates data for August that show exports up 27% for the entire month. Still, this was lower than earlier estimates that predicted exports rose 31% in the first 25 days of the month. The Bursa Malaysia benchmark palm oil contract last traded down 6 ringgit at MYR2520 a ton.
Sep 01 - Egypt's GASC cancels wheat tender as ergot policy bites
Egypt's ability to buy wheat from abroad while demanding zero ergot fungus in shipments was dealt a serious blow on Wednesday, with state grain buyer GASC cancelling its tender after receiving just one offer.It was the country's first tender to purchase wheat since it reinstated its zero-tolerance ergot policy on Sunday - a move that baffled traders as implementation of the policy late last year had led to disruptions to its wheat buying programme and higher prices. Click here to read full stories.
Sep 01 - China delays new canola rules in late reprieve for Canada
China agreed on Wednesday to delay introducing stricter rules on canola shipments from Canada while both countries work to end a months-long trade spat, offering an eleventh hour temporary reprieve for Canada's farmers.One day before the new standard was due to go into force, Canadian Prime Minister Justin Trudeau and Chinese Premier Li Keqiang said Canada would be able to continue with the current canola export regime, while a longer-term solution is worked out. Click here to read full stories.
Sep 01 - Canada fertilizer deal would send farmers to regulators
North American farmers will pressure regulators to protect their negotiating leverage with fertilizer suppliers if Potash Corp of Saskatchewan and Agrium Inc agree to merge, major farm groups said on Wednesday.The potential deal revealed on Tuesday would combine the world's largest fertilizer producer by capacity with the continent's biggest network of farm retail dealers and consolidate 60 percent of North America's potash production with one company. Click here to read full stories.
Sep 01 - U.S. sues to stop Deere from buying Precision Planting
The U.S. Justice Department filed a lawsuit on Wednesday aimed at stopping Deere & Co from buying Monsanto Co's Precision Planting farm equipment business, saying that the deal could make it more expensive for farmers to use fast, precise planting technology.Deere said in a statement that it would fight the lawsuit and that the Justice Department's antitrust concerns were "misguided." Click here to read full stories.
Sep 01 - Thailand, Vietnam set to supply 250,000 T of rice to Philippines
Thailand and Vietnam won deals to supply a total of 250,000 tonnes of rice to the Philippines at a tender on Wednesday after revising down their offers to just within Manila's budget.The tender, the first under the two-month old government of President Rodrigo Duterte, is part of the state's plans to import up to 1 million tonnes of rice to secure supply of the food staple through next year while prices are low. Click here to read full stories.
Sep 01 - USDA July soybean crush seen at 153.2 mln bushels - poll
The U.S. Department of Agriculture's monthly report on oilseed crushings will likely show that 4.596 million short tons, or 153.2 million bushels, of soybeans were processed in July, a Reuters poll of eight analysts showed on Wednesday.The estimates ranged from 152.5 million to 154.2 million bushels. The median forecast was 153.1 million bushels. Click here to read full stories.
Sep 01 - Allendale sees high U.S. corn, soy yields but below USDA forecasts
Commodity brokerage Allendale Inc on Wednesday estimated the U.S. 2016 corn crop at 14.942 billion bushels with a yield of 172.6 bushels per acre (bpa), based on a survey of producers in 31 states.Allendale projected the 2016 soybean crop at 4.026 billion bushels, with an average yield of 48.5 bushels per acre. Click here to read full stories.
Sep 01 - U.S. Agriculture Dept reopening offices after email threats
The U.S. Department of Agriculture, which closed offices in five states on Tuesday after receiving anonymous email threats, said all of its facilities would be reopened by Thursday.The agency opened most of the offices on Wednesday after security was beefed up at the locations, department spokesman Matthew Herrick said in a statement. Click here to read full stories.
Sep 01 - Hungarian firm builds maize-processing plant, full capacity in 2018
A private Hungarian firm is building a plant that is expected to process over half a million tonnes of maize per year by 2018, Tisza-TK Projekt Kft, which is building the plant, said on Wednesday. The 145 million euro ($161.39 million) plant in the town of Tiszapuspoki, 134 km (83.26 miles) east of Budapest, will produce an annual 230,000 tonnes of isosugar - a glucose-fructose syrup used in the food industry - as well as starch, alcohol and feed components. Click here to read full stories.
Sep 01 - Asian CPO Down After Estimate Show Exports Rising Just 27% (Dow Jones)
Asian crude palm oil is trading lower Friday, after cargo surveyor Intertek released palm oil export estimates data for August. The estimates show exports were up 27% for the entire month, but this was below earlier estimates that predicted exports rose 31% in the first 25 days of the month. The Bursa Malaysia benchmark palm oil contract was trading down 24 ringgit at MYR 2502 a ton.
Aug 31 - Potash Corp, Agrium talk merger; competition scrutiny expected
Canada's Agrium Inc and Potash Corp of Saskatchewan Inc said on Tuesday they are in talks to merge, a deal that would create a fertilizer and farm retailing giant worth more than $25 billion but also trigger U.S. regulatory scrutiny.Potash Corp, the world's biggest crop nutrient company by capacity and Agrium, North America's largest farm retailer, said in separate statements that the talks were at a "preliminary" stage about a possible merger of equals, adding that no agreement has been reached. Click here to read full stories.
Aug 31 - Summer heat may have set bar too high for U.S. corn - Braun
As harvest looms, the ag market keeps obsessing over the question of whether U.S. corn make the U.S. Department of Agriculture’s current target yield of 175.1 bushels per acre.Doubt has been building among industry participants, especially after last week’s Pro Farmer Midwest Crop Tour, which led the farm advisory service to project a national yield of 170.2 bushels per acre. That is the largest August prediction Pro Farmer has ever made. Click here to read full stories.
Aug 31 - China importers in deals to buy nearly 4 mln tonnes of US soybeans
A delegation of soybean buyers from China signed agreements on Tuesday to purchase 146 million bushels, or nearly 4 million tonnes, of U.S. soybeans at a signing ceremony in Indianapolis, according to the U.S. Soybean Export Council.The purchase agreements were valued at about $1.8 billion, the group estimated after the event. Click here to read full stories.
Aug 31 - USDA closes offices in five states after anonymous threats
The U.S. Department of Agriculture has closed six offices in five states after receiving anonymous threats, a USDA spokesman said on Tuesday, and police were investigating similar threats to faculty members from at least two universities in eastern states."Yesterday, USDA received several anonymous messages that are concerning for the safety of USDA personnel and its facilities. As a precaution, USDA has closed offices," department spokesman Matthew Herrick said. Click here to read full stories.
Aug 31 - Firm cash market seen limiting CBOT September soy deliveries
Firm cash markets and strong export demand should prevent any deliveries of soybeans against Chicago Board of Trade futures on Wednesday, first notice day for CBOT September grain deliveries, traders and analysts said on Tuesday.Estimates of soyoil deliveries ranged from 800 to 2,000 contracts, but several analysts said demand in the cash soyoil market was strong enough to keep deliveries at or below 1,000 contracts. Click here to read full stories.
Aug 31 - Egypt's GASC seeks wheat for Oct. 5-15 shipment
Egypt's General Authority for Supply Commodities (GASC) set a tender on Tuesday to buy an unspecified amount of wheat from global suppliers for shipment from Oct. 5-15.Ahmed Youssef, vice chairman of GASC, said the authority is seeking to buy cargoes of soft and/or milling wheat from the United States, Canada, Australia, France, Germany, Poland, Argentina, Russia, Kazakhstan, Ukraine, Romania and Bulgaria. Click here to read full stories.
Aug 31 - Canada will be able to continue with current canola export regime -Trudeau
Canadian Prime Minister Justin Trudeau said on Wednesday that his country will be able to continue with its current canola export regime.In a news briefing with China's premier Li Keqiang, the Canadian prime minister said he hopes for a long term solution with China on their dispute over the safety of canola exports from Canada. Click here to read full stories.
Aug 31 - Russia's Deputy PM backs reducing wheat export tax to zero
Russia's Deputy Prime Minister Arkady Dvorkovich, who is in charge of agriculture, has supported a proposal to reduce a wheat export tax to zero, an Agriculture Ministry official said.If approved, the proposal, originally made by the Agriculture Ministry, would allow exporters to stop paying 10 roubles ($0.15) per tonne of wheat, the minimum level of the tax. Click here to read full stories.
Aug 31 -U.S. soybean plantings to rise in 2017, corn to fall -Farm Futures
U.S. farmers plan to increase their soybean plantings in 2017 to an all-time high, encouraged by robust demand for the oilseed, while reducing corn and wheat acreage, according to a producer survey released by Farm Futures magazine on Tuesday.Growers will plant 84.4 million acres of soybeans next spring, up from 83.7 million in 2016, and 93.1 million acres of corn, down from 94.1 million this year, according to the survey, the magazine's first for the upcoming season. Click here to read full stories.
Aug 31 - Lactalis strikes price deal with French milk producers
Lactalis, the world's largest dairy firm, reached a deal with French milk producers on Tuesday to raise prices paid to suppliers and farmers called off their week-long protests, the company and unions said.Lactalis agreed to pay an average 275 euros ($307) per 1,000 litres of milk for the whole of 2016, Dominique Barrau, secretary general of France's largest farm union FNSEA, told Reuters. Click here to read full stories.
Aug 31 - Argentina biodiesel exports nearly triple in second quarter
Biodiesel exports from Argentina nearly tripled in the second quarter of 2016 from a year earlier as production increased, official data showed on Tuesday.Argentina, a major exporter of the biofuel that is often derived from soy oil, exported 404,215 tonnes from April to June. That was up 187.2 percent from a year earlier, the Indec statistics agency said. Click here to read full stories.
Aug 31 - KualaLumpur is closed today ( National Day )
Aug 30 - Asian Crude Palmoil Closes Higher on Better Export Expectations (Dow Jones)
Asian crude palm-oil prices closed higher Tuesday on expectations of robust export performance. "Investors remain upbeat about expected festival buying from China," says David Ng, an analyst at Philip Futures in Kuala Lumpur. Cargo surveyors Intertek Agri Services and SGS (Malaysia) Bhd. will release monthly export estimates for the month of August on Wednesday. Mr. Ng expects palm-oil prices to remain rangebound between 2500 ringgit a ton and 2620 ringgit a ton. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange traded 11 ringgit higher at 2528 ringgit a ton.
Aug 30 - Palm prices could climb on tight supply; output rebound looms (Golden Agri)
Crude palm oil prices could jump later this year on firm demand and tight supplies, although output is set to gradually rise as the impact of an El Nino weather event fades, a senior official from Golden Agri-Resources said.Dryness linked to last year's El Nino, the strongest in 20 years, has lowered yields in top growers Indonesia and Malaysia, and is forecast to cut output at Golden Agri, the world's second-largest palm oil planter, by 15-20 percent this year. Click here to read full stories.
Aug 30 - FAO respects Egypt ergot reversal despite international standards
The United Nations Food and Agriculture Organization (FAO) said on Monday it respected Egypt's decision to go back to a zero-tolerance policy of ergot in wheat, even though its own codes allow a higher level."FAO respects the confidentiality of the risk analysis process and the decision of the Ministry of Agriculture and Land Reclamation of Egypt," a statement by the organisation said. Click here to read full stories.
Aug 30 - Asia's rice market reaches semblance of normality after Thai upheaval: Russell
Asia's rice markets are showing signs of returning to what could be described as normal trade, even as the last acts of Thailand's ultimately disastrous subsidy scheme play out.While Thailand's benchmark 5-percent broken rice has slumped 15 percent in the past month to $376.50 a tonne, it's likely that move is driven mainly by supply and demand factors, rather than political intervention and its aftermath. Click here to read full stories.
Aug 30 - Russian wheat export prices edge down on weaker rouble
Russian wheat export prices fell slightly last week on a 1.5 percent weakening in the rouble that made Russian grains more competitive on global dollar-denominated markets, analysts said on Monday.Black Sea prices for Russian wheat with 12.5 percent protein content and for September delivery were $172 a tonne on a free-on-board (FOB) basis at the end of last week, down $1 from a week earlier, Russian agricultural consultancy IKAR said. Click here to read full stories.
Aug 30 - Australia's richest woman considers bid for country's largest ranch - source
Australia's richest woman Gina Rinehart is partnering with Chinese developer Shanghai CRED to bid for S. Kidman & Co, the country's largest private land holding, a source close to the sales process said on Monday.Rinehart's participation in a bid for the Kidman properties may finally induce Australia's government to approve a sale. The government in April rejected a $A371 million ($279.96 million) bid by a Chinese-led consortium headed by Hunan Dakang Pasture Farming Co Ltd (Dakang) and Shanghai CRED, alongside a minority 20 percent Australian interest, the group's second rejection in six months. Click here to read full stories.
Aug 30 - Brazil corn export drop raises fertilizer delivery costs - CEO
A sharp drop in Brazil's corn output in 2015/16 that reduced the flow of the grain from farmlands to ports has pushed up freight costs on the return trip for fertilizer, the chief executive officer of Fertilizantes Heringer said on Monday.The reduced flow of trucks carrying corn to Brazil's southern ports has pushed up the cost of getting fertilizer to farms in the interior of Brazil, said Dalton Carlos Heringer, CEO of the country's third-largest distributor of the crop input. Click here to read full stories.
Aug 30 - South Africa's drought recovery could be stalled by uncertain rain prospects
South Africa's recovery from its worst drought in over century could be stalled as anticipated rain relief from a La Nina weather system remains uncertain, the South African Weather Service said on Monday.An earlier prediction of a moderate La Nina, which is associated with higher rainfall, for the spring/summer season between September and February, had eased farmers' drought fears. But the South African Weather Service said it was uncertain how much rain there would be. Click here to read full stories.
Aug 30 - Lactalis to resume milk price talks as farmers protest
Europe's largest dairy group Lactalis said it would resume talks with French milk producers on Tuesday about increasing prices paid to suppliers though farmers unions vowed to continue their protests ahead of the meeting.Talks between Lactalis and French milk producers broke down overnight on Friday after they failed to find any middle ground, prompting the agriculture minister to call on both sides to try to reach a compromise. Click here to read full stories.
Aug 30 - California lawmakers send governor bill authorizing farmworker overtime
California would become the first U.S. state to require farmers to pay overtime to field workers and fruit pickers under a bill approved by the legislature on Monday and sent to Democratic Governor Jerry Brown for his approval.The bill, which passed on a mostly party-line vote, would phase in overtime pay for farmworkers from 2019 to 2022. Small farms that employ 25 or fewer workers would have an additional three years to phase in the pay. Click here to read full stories.
Aug 30 - Asian Crude palmoil Likely to Remain in Range, Eyes on Data (Dow Jones)
Asian crude palm oil prices are likely to remain reasonably rangebound with focus on the release of end-of-month palm oil export estimates from cargo surveyors SGS and Intertek, traders say. Exports have remained strong over the last couple of months as both India and China have rebuilt stocks, which has supported prices. The Bursa Malaysia three-month palm oil contract is trading up 5 ringgit at 2522 ringgit a metric ton.
Aug 29 - Asian Crude Palmoil Closes Lower, Tracking Weaker Rival Oils (Dow Jones)
Asian palm oil futures prices continued a downward trend, tracking losses in competing oils to end lower on Monday. Soybean oil is used as a substitute for palm oil so the prices often move together. "Weakness in the Chicago soybean oil continue to weigh down on investor sentiment," said David Ng, an analyst at Philip Futures in Kuala Lumpur. Besides, worries of higher palm-oil production are putting pressure on prices. Benchmark palm-oil futures for November delivery on the Bursa Malaysia Derivatives Exchange last traded 38 ringgit lower at MYR2514 a ton Monday.
Aug 29 - Canadian canola exporters book China sales, roil trade dispute
Canadian exporters are making small sales of canola to China under Beijing's stricter terms, an industry group and three sources said, possibly undermining Ottawa’s hardline negotiating stance with the world’s top market for the oilseed.The dispute over the new shipping standard, which industry groups in the world's biggest canola exporter warn would cripple C$2 billion ($1.55 billion) in trade, threatens to mar Canadian Prime Minister Justin Trudeau's visit to China next week. The tougher standard on canola, also called rapeseed, takes effect on Sept. 1. Click here to read full stories.
Aug 29 - Foreign seed firms rally behind Monsanto in Indian alliance
Major international seed companies in India formed an alliance on Friday, seeking the support of their peers after a flurry of regulatory steps in recent months by Prime Minister Narendra Modi's government.Executives from companies including the local businesses of Monsanto, Bayer, Dow, Dupont Pioneer and Syngenta announced the alliance in a crowded Press Club of India conference room. Click here to read full stories.
Aug 29 - In about turn, Egypt bans ergot fungus in wheat again
Egypt reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus, baffling traders who had returned to the Egyptian market just last month when the ban was lifted.The world's largest wheat importer said on Sunday it was re-introducing its zero tolerance policy on ergot - which can lead to hallucinations in large quantities but is considered harmless at minor levels- and would apply the decision retroactively. Click here to read full stories.
Aug 29 - French wheat harvest shows high protein, low density -FranceAgriMer
The soft-wheat crop in France, the European Union's top producer, was showing varying quality, marked by high protein levels, a provisional poll by farm office FranceAgriMer showed on Friday.The quality report was done with grain collectors on samples gathered by Aug. 22. FranceAgriMer still expected some samples from key producing regions in northern France and Brittany.The report showed 65 percent of France's soft-wheat harvest had protein levels above 12.5 percent and only 6 percent were below 11.5 percent, a level used by importers such as Egypt and West Africa. Click here to read full stories.
Aug 29 - Pro Farmer sees record U.S. corn, soy crops, but below USDA view
Bumper corn and soybean crops are expected in the United States this fall but the harvests will likely fall short of records projected by the U.S. government, according to estimates released on Friday from farm advisory service Pro Farmer at the end of its annual Midwest crop tour.Pro Farmer predicted that average corn yields will be 170.2 bushels per acre, or enough to produce a record 14.728 billion-bushel crop, at the end of a four-day tour of seven major production states in the Midwest. Click here to read full stories.
Aug 29 - China seeks to assuage consumer fears over GMO foods
China's agriculture ministry said it would back new laws on genetically modified (GMO) food labelling "at a suitable time" as it seeks to assuage public concerns over safety, but added that current laws protect consumers.Beijing has spent billions of dollars researching GMO crops and has said it is aiming for commercialisation of the first GMO corn and soybean crops within the next five years. Click here to read full stories.
Aug 29 - Milk price talks between Lactalis and producers collapse
Negotiations over milk purchase prices between Europe's largest dairy group Lactalis and French farmers collapsed late on Friday without an agreement, a union official said.Family-owned Lactalis agreed to renegotiate the price paid to suppliers on Tuesday after hundreds of milk producers launched a protest at its Laval headquarters in northwestern France, blaming the company for paying less than rivals. Click here to read full stories.
Australia sold more than 100,000 tonnes of new-crop wheat to Thailand and the Philippines this week, while Vietnam is seeking 100,000 tonnes of feed wheat, as declining global prices caused by a supply glut attract Asian buyers.Thai millers paid $213 a tonne, including cost and freight (C&F), for 55,000 tonnes of Australian premium wheat for February shipment, two trade sources said. Click here to read full stories.
Aug 28 - Asian CPO Remains Supported by Production Concerns, Demand (Dow Jones)
Asian palm oil prices remain supported by concerns that production, particularly in Indonesia, has remained lower than markets had expected, says Kandarp N. Bhalani, trading director at Agromond Pte. He notes that major importers India and China have been caught short and their buying is also continuing to support prices particularly in the near term. The Bursa Malaysia benchmark three-month contract is trading up 9 ringgit at 2560 ringgit a metric ton.
Aug 26 - Asian CPO Closes a Tad Lower, in Line With Weaker Rival Oils (Dow Jones)
Asian crude palm oil prices end slightly lower hurt by weaker overnight performance in the Chicago soybean prices. "The narrowing spread between palm oil and soy bean oil will put additional pressure on palm oil prices," says a Kuala Lumpur-based trader. Moreover, persistent concerns of over-production in top producer Malaysia will have a weakening impact on palm oil prices. Traders expect prices to remain range-bound between 2500 ringgit a ton and 2620 ringgit a ton. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange last traded 10 ringgit lower at 2551 ringgit a ton Friday.
Aug 26 - China raps Ottawa as dispute over Canada canola exports deepens
A dispute over C$2 billion ($1.55 billion) worth of Canadian canola exports to China intensified on Thursday when Beijing criticized Ottawa's insistence that bilateral relations could not improve until the matter is settled.The situation threatens to mar Canadian Prime Minister Justin Trudeau's visit to China next week."We oppose linking a concrete issue of bilateral trade with China-Canada relations," the Chinese embassy in Ottawa said by email. Click here to read full stories.
Aug 26 - Egypt's wheat corruption scandal takes down embattled supply minister
Egypt's Minister of Supply Khaled Hanafi has resigned amid the highest-profile corruption case since President Abdel Fattah al-Sisi came to power in 2014.Hanafi's resignation is the most senior-level fallout from a probe into whether millions of dollars intended to subsidise farmers were used to purchase wheat that did not exist."Experience has proven that being in a position of authority is no longer a picnic," Hanafi said as he announced his resignation on state television. Click here to read full stories.
Aug 26 - Chinese investors pile into corn as state removes price support
Chinese investors have piled into domestic corn futures at a record pace, speculating that prices will sink further when for the first time in a decade the corn crop goes on sale without state price support.Open interest in Dalian corn futures, a measure of liquidity in a contract, hit an all-time high of 2.84 million lots on Thursday, equivalent to 28.3 million tonnes of grain worth 48.1 billion yuan ($7.2 billion) and about 13 percent of China's new harvest. Click here to read full stories.
Aug 26 - GM mustard clears hurdle in India but more remain
A government panel has cleared commercial use of what would be India's first genetically modified (GM) food crop, but politicians still have to give final approvals amid wide-spread public opposition.Technical clearance for indigenously developed GM mustard seeds was given on Aug. 11 by the panel of government and independent experts, following multiple reviews of crop trial data generated over almost a decade, said two sources with direct knowledge of the matter. Click here to read full stories.
Aug 26 - Russia muscles into rivals' markets as it grows into top wheat exporter
Russia is muscling in on the markets of its European and North American competitors as it overtakes the European Union to become the world's biggest wheat exporter for the first time.Russia is expecting a record crop in the 2016/17 marketing season which began on July 1, while EU harvests are poor. That means traders will be negotiating to ship Russian wheat to countries that have seldom or never bought it before. Click here to read full stories.
Aug 26 - Australia pulse crops racing to record to fill Indian plates
Australian farmers are set to churn out record harvests of pulses such as chickpeas and lentils after they rushed to take advantage of surging prices due to shortages in world No.1 producer and consumer India.Prices of the key pulses, long-used to make dishes such as curries and growing in popularity globally due to their high-protein content, soared above A$1,200 ($915) per tonne earlier this year, according to National Australia Bank. Click here to read full stories.
Aug 26 - Argentine soy growers fret seed royalties bill might favor Monsanto
Argentine soy farmers fear they will get shortchanged under a proposal they say would favor U.S. agricultural company Monsanto Co by forcing them to pay royalties on seeds grown on their own farms using the company's genetically modified technology.Farmers in Argentina's Pampas grains belt say they should have to pay only once, or maybe twice, for seeds containing Monsanto's Intacta RR2 PRO technology. Click here to read full stories.
Aug 26 - IGC raises 2016/17 world wheat, corn crop forecasts
The International Grains Council on Thursday raised its forecasts for both world corn and wheat production in the 2016/17 season, taking them to record highs."The largest adjustment this month is for maize (corn) and is nearly entirely due to a sustained improvement in crop prospects in the U.S.," the IGC said in a monthly report. Click here to read full stories.
Aug 26 - Lactalis talks with French milk producers end with no deal
A meeting between Europe's largest dairy group Lactalis and French milk producers requesting a rise in prices ended in a deadlock after 10 hours of negotiations, sources close to the talks said.European milk farmers are struggling with a slump in prices caused by oversupply after the scrapping of the European Union quotas last year, Russia's ban on Western food imports and weak Chinese dairy imports. Click here to read full stories.
Aug 26 - France's Nord Cereales suspends wheat deliveries - Euronext
French silo operator Nord Cereales will stop taking deliveries in its silo in the northern port of Dunkirk as of Aug 29, Euronext said in a statement.The silo is one of the delivery points for wheat traded on Euronext's milling wheat futures market. Click here to read full stories.
Aug 26 - South Africa's crop committee raises 2016 maize forecast 0.5 percent
South Africa will likely harvest 7.3 million tonnes of maize in 2016, 0.5 up percent from the previous estimate as yellow maize yields increase, a government agency said on Thursday.The forecast by the Crop Estimates Committee (CEC), its eighth this season, was 26.6 percent lower than the 9.95 million tonnes reaped last year, due to a severe drought. Click here to read full stories.
Aug 26 - Asian CPO Under Some Pressure Following Moves in Soybean Contracts (Dow Jones)
Bursa Malaysia benchmark three-month palm oil contract is lower early following weakness in the Chicago Board of Trade soybean contract, a Kuala Lumpur based trader says. He notes, however, that there remains tightness in the short-term contract with the front-month contract trading slightly higher. The Bursa Malaysia three-month contract is trading down 27 ringgit a ton at 2535 ringgit a ton.
Aug 25 - Asian Crude Palmoil Closes Lower on Concerns of Higher Output (Dow Jones)
Asian crude palm-oil prices return to losses Thursday over renewed concerns of a rise in palm-oil production. Worries of a bigger output "continue to play spoilsport" despite a higher export performance, a Kuala Lumpur-based trader says. Malaysia's palm oil exports during the August 1-25 period are estimated up 31.09% on month at 1,317,234 metric tons, cargo surveyor Intertek Agri Services said. Strong demand from top-consumers India and China will soon "put the market on track," he adds. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange last traded 41 ringgit lower at 2559 ringgit a ton Thursday.
Aug 25 - Monsanto pulls new GM cotton seed from India in protest
Monsanto Co has withdrawn an application seeking approval for its next generation of genetically modified cotton seeds in India, a major escalation in a long-running dispute between New Delhi and the world's biggest seed maker.A letter sent by Monsanto's local partner in India, the conglomerate's biggest market outside the Americas, strongly objects to a government proposal that would force Monsanto to share its technology with local seed companies. Click here to read full stories.
Aug 25 - Brazil to let ethanol tax break expire in December - sources
The Brazilian government has no plans to extend a tax exemption for ethanol sales that expires in December as it pushes to rebalance the country's depleted public accounts, two government officials told Reuters on Wednesday.Ending the exemption, a de facto tax increase, should make the biofuel less attractive for mills and motorists, and prompt Brazil to produce and export more sugar while importing more gasoline. Click here to read full stories.
Aug 25 - Canada takes tougher line with China over canola export dispute
Canada hardened its line with China on Wednesday in a dispute over Canadian canola exports, saying bilateral relations could not improve until Beijing took action to settle the matter.Trade Minister Chrystia Freeland made the remarks in an interview just days before Prime Minister Justin Trudeau is due to visit Beijing on a trip designed to deepen economic and political ties. Click here to read full stories.
Aug 25 - Soybeans trip up top traders, prompt rare offer to U.S. farmers
Two of the world's biggest agricultural trading houses bungled crop sales they made on behalf of U.S. farmers this year because of what one described as "unique" price moves for soybeans, prompting both to take rare steps to keep disgruntled customers.Every year, hundreds of U.S. farmers trust major grain traders, including privately held Cargill Inc and Bunge Ltd, to sell parts of their harvests on their behalf for a fee. They hope the global reach and expertise of these companies will secure the best price and profits. Click here to read full stories.
Aug 25 - India to receive normal rains, not surplus, as La Nina chances fade
India will receive normal rainfall over the 2016 monsoon season, not surplus as previously expected, with the chances of a La Nina weather pattern emerging over the period seen as unlikely, three senior officials at state-run weather department said.A forecast for above-average rains had stoked fears of crop damage during harvest, but with normal rainfall farmers can reap bumper crops. The June-September monsoon is crucial for India's rain-fed farm sector that accounts for nearly 15 percent of its $2 trillion economy - Asia's third biggest. Click here to read full stories.
Aug 25 - Western Iowa corn yield forecast, soy pod counts above average
Corn yields and soybean pod counts across western Iowa were projected bigger than a year ago and above average, scouts on an annual tour found on Wednesday.Scouts on the Pro Farmer Midwest Crop Tour found average corn yield potential in the western portion of the state at 187.55 bushels per acre, based on surveys of 165 fields in crop districts one, four and seven. That compares with the tour's three-year average for the area of 175.95 bushels per acre and its 2015 findings of 181.58 bushels per acre. Click here to read full stories.
Aug 25 - Syria postpones tender for 1 mln T Russian wheat
Syria's state grain buyer, the General Establishment for Cereal Processing and Trade (Hoboob), has postponed a tender for 1 million tonnes of wheat, a government source said on Wednesday."The tender has been postponed until Sept. 8," said the source, who declined to be identified.Syria was seeking wheat of Russian origin on a cost and freight basis. Click here to read full stories.
Aug 25 - Welspun scandal follows years of plummeting Egyptian cotton output
A scandal involving the alleged sale of falsely labeled Egyptian cotton products by an Indian textile manufacturer to U.S. big box retailers highlights a stiff reality facing the high-end fiber market: there isn't much Egyptian cotton any more.The shortage of cotton from Egypt, which commands a premium due to its superior quality, creates an incentive to blend it with other types of cotton without disclosing it or to counterfeit the label altogether, cotton traders said, exacerbating a problem that has plagued the industry for years. Click here to read full stories.
Aug 25 - More U.S. retailers probing phony Egyptian cotton
U.S. retailer Bed Bath & Beyond on Wednesday said it ordered an external audit of textiles from Welspun India, after Target Corp last week accused the Indian manufacturer of passing off cheap sheets as premium Egyptian cotton for two years.This could compound the woes of Welspun, which supplies to several large U.S. retailers and has seen its shares plummet nearly 43 percent since Target's announcement on Friday. Click here to read full stories.
Aug 25 - Zimbabwe abolishes 8,000 jobs in agriculture ministry to cut wages
Zimbabwe's government plans to abolish about half the jobs in the agriculture department, a government official said on Wednesday, as President Robert Mugabe's administration struggles to pay public service wages.The southern African nation is facing a biting shortage of cash, its worst since 2009 when it dumped its hyperinflation-wrecked currency in favour of the U.S. dollar. Click here to read full stories.
Aug 25 - Asian Crude Palmoil Prices Could Move Beyond MYR2800/Ton - OCBC
If strong Asian crude palm oil prices persist into the fourth quarter of 2016 there may be further upside bias for prices to move beyond MYR2800 per metric ton given seasonally lower production, says OCBC analyst Barnabas Gan. He notes that El Nino has officially passed and the chance of a La Nina is only 55% to 60% in 2H16, and may well be delayed until 2017. The Bursa Malaysia benchmark three-month palm oil contract is down 49 ringgit to 2551 ringgit a ton.
Aug 24 - Asian CPO Closes Higher on Hopes of Lower Production, Rise in Exports (Dow Jones)
Asian crude palm-oil future prices end stronger amid improved investor sentiment on expectations of a fall in palm-oil output and improved demand. Palm oil shipments from Malaysia, the world's second-biggest producer after Indonesia, grew between 25% and 27% in Aug. 1-20, compared with the same period last month, aided by stronger demand from India. Traders say demand from India will continue to be strong since the nation needs palm oil to support its bio-diesel industry. David Ng, an analyst at Philip Futures brokerage in Kuala Lumpur, expects palm-oil prices to trade between 2500 ringgit a ton and MYR2630 a ton over the next few days. Benchmark palm-oil futures for November delivery on the Bursa Malaysia Derivatives Exchange last traded MYR30 higher at MYR 2608 a ton Wednesday.
Aug 24 - Russia expects jump in August grain exports as record harvest rolls out
Russia is expected to increase grain exports to 3.5 million tonnes in August from 2.2 million tonnes in July, SovEcon agriculture consultancy said on Tuesday.Russia, a major global wheat exporter, exported record high volumes in the 2015/16 crop season which ended on June 30, and is likely to export even more in 2016/17 when it expects the largest crop in its post-Soviet history. Click here to read full stories.
Aug 24 - Egypt's GASC cancels wheat tender, no reason given
Egypt's General Authority for Supply Commodities (GASC) said on Tuesday it had cancelled a tender to buy wheat.Ahmed Youssef, vice chairman of GASC, did not give a reason for the cancellation.The tender was seeking wheat for Sept. 21-30 shipment. Click here to read full stories.
Aug 24 - Cofco to buy remaining stake in Nidera to take full ownership
Chinese state-run grain trader Cofco Corp said on Tuesday it will buy the remaining stake it does not already own in Dutch firm Nidera, the latest move to expand its global footprint.It will buy the minority take from Cygne BV, bringing its ownership in Nidera to 100 percent. The closure of the transaction, which is subject to regulatory approvals, is anticipated to take place in the fourth quarter. Click here to read full stories.
Aug 24 - Indiana corn yields, soy pod counts seen up from last year -tour
The annual Pro Farmer Midwest Crop Tour on Tuesday estimated corn yields in Indiana above findings last year but the projections came in sharply lower than the U.S. Department of Agriculture's outlook released on Aug. 12.The crop tour projected Indiana's corn yield at 173.42 bushels per acre, up both from last year's estimate of 142.94 bpa and the three-year crop tour average of 165.11 bpa. USDA said yields in the state would average 187 bpa, up from 150 bpa in 2015. Click here to read full stories.
Aug 24 - Canadian farmers to reap less canola, surprising trade
Canadian farmers are set to harvest slightly less canola, surprising traders, but more wheat, according to Statistics Canada's first production report of the year on Tuesday.Mostly favorable spring weather raised expectations of a bumper harvest in western Canada, where most of the country's grains and oilseeds grow. Summer storms, including tornadoes and hail, have since dampened some trade estimates. Click here to read full stories.
Aug 24 - Lactalis ready to discuss milk prices with angry French farmers
Europe's largest dairy producer, Lactalis, said on Tuesday it was ready to renegotiate milk prices paid to producers after hundreds of farmers protested outside its headquarters in northwestern France demanding higher prices.Lactalis will meet French milk producers in Paris on Thursday morning, members of France's largest farm union FNSEA said separately after holding talks with Lactalis representatives near the company's base in the town of Laval. Click here to read full stories.
Aug 24 - Australia's Murray Goulburn lifts annual profits 61 pct
Murray Goulburn, Australia's largest dairy processor, said on Wednesday its annual net profit jumped more than 60 percent, but warned it will face significant headwinds next season from an oversupplied milk market.Global milk prices have tumbled sharply amid a global supply glut, leading processors in both Australia and New Zealand to slash payments to suppliers and forcing farmers to slaughter cattle. Click here to read full stories.
Aug 24 - Brazil mulls fund to finance farming insurance, Valor says
The Brazilian government is considering the creation of a private-sector fund to help subsidize insurance for farmers, potentially cushioning them from possible budget cuts in agricultural aid, newspaper Valor Econômico reported on Tuesday.According to Valor, the proposed fund would bear part of the cost of farming insurance policies, adding that the idea is under discussion between Agriculture Minister Blairo Maggi's team, insurers and farming groups.
Aug 24 - Asian CPO Likely to Rally Into Year End on Weather, Seasonal Factors
Asian palm oil prices could continue to rally into the year end, as the impact of dry weather hasn't yet been fully digested and seasonally-lower production in the fourth quarter is expected to occur in the coming months, says OCBC Bank. "With the already negative growth in overall production levels seen year-to-date, the further fall in production may lift CPO to exceed our initial call at MYR2,800 (per) metric ton at year-end," the bank says. The Bursa Malaysia 3-month palm oil contract is trading up 13 ringgit a ton at MYR 2591/ton.
Aug 24 - Asian CPO to Ease Significantly in Coming Quarters (Dow Jones)
Palm oil prices, after rallying by 20% in July-August driven by the delayed impact of the El Niño phenomenon on tree yields in South East Asia, will ease significantly in the coming quarters, says BMI Research in a note. "The tightness in supply driven by El Niño in 2016 will dissipate as we turn to 2017 and fundamentals for the market turn bearish for prices." It notes that palm oil will be one of the only commodities to average lower on a year-on-year basis in 2017. BMI Research forecasts palm oil prices to average MYR2,350 a metric ton in 2017, compared with MYR2,500 a ton in 2016 and MYR2,235 a ton in 2015. The Bursa Malaysia benchmark 3-month palm oil contract is trading up MYR15 per ton at MYR 2594/ton.
Aug 23 - Asian CPO Rises on Improved Demand From India, China (Dow Jones)
Asian crude palm-oil price futures rebound from losses to close higher Tuesday boosted by demand from India and topping up of stocks by China. Palm oil shipments from Malaysia, the world's second largest producer after Indonesia, increased more than 25% during August 1-20, from a month ago, according to cargo surveyors Intertek Agri Services and SGS (Malaysia) Bhd. India is the world's biggest vegetable oil importer and meets most of its annual demand from top producers Indonesia and Malaysia. "India will continue to be the world's largest consumer and importer of palm oil. China too will increase its oil purchases," says a Kuala Lumpur-based trader. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange rose MYR32 to MYR2575/ton.
Aug 23 - U.S. clearance of ChemChina's Syngenta deal removes key hurdle
A U.S. national security panel has cleared ChemChina's $43 billion takeover of Swiss pesticides and seeds group Syngenta, the companies said, boosting chances that the largest foreign acquisition ever by a Chinese company will go through.The decision removes significant uncertainty over the takeover of the world's largest pesticides maker. Several U.S. lawmakers and groups representing farmers had expressed fears over a Chinese state-owned company being in a position to influence the U.S. food supply. Click here to read full stories.
Aug 23 - Egypt wheat commission submits corruption report amid calls for minister to resign
A fact-finding commission investigating corruption in Egypt's domestic wheat supplies has delivered its final report to parliament, a lawmaker said on Monday, amid mounting pressure on the minister of supplies to resign.Egypt, the world's largest importer of wheat, has been mired in controversy over whether much of the roughly 5 million tonnes of grain the government said it procured in this year's harvest exists only on paper, the result of local suppliers falsifying receipts to boost government payments. Click here to read full stories.
Aug 23 - EU crop monitor cuts grain maize, soft wheat yield estimates
The European Union's crop monitoring service significantly cut its forecast on Monday for average maize and soft wheat yields in this year's EU harvest after adverse weather.The MARS service pegged the average EU grain maize yield at 7.23 tonnes per hectare (t/ha) in 2016, down from 7.42 t/ha seen in July, mainly due to dry weather in southeastern Europe. Click here to read full stories.
Aug 23 - S. Dakota corn yield potential, soy pod counts down from 2015-tour
Harvests prospects for both corn and soybeans in South Dakota were lower than a year ago, with both crops stressed by some heat and dry conditions during the growing season, scouts on annual tour found on Monday.Scouts on the Pro Farmer Midwest Crop Tour found average corn yield potential in the state at 149.78 bushels per acre, below the tour's three-year average of 160.13. A year ago, scouts on the tour calculated the average South Dakota corn yield at 165.94 bushels per acre. Click here to read full stories.
Aug 23 - Russian wheat prices rise for fourth week
Russian wheat export prices rose for a fourth straight week as farmers continued to hold onto their top quality produce, anticipating further price increases after weather-related shortfalls in Europe, analysts said on Monday.Black Sea prices for Russian wheat with 12.5 percent protein content were $170 a tonne on a free-on-board (FOB) basis at the end of last week, up $2 from a week earlier, Russian agricultural consultancy IKAR said. Click here to read full stories.
Aug 23 - Depressed prices for U.S. baby pigs signal troubled hog market
U.S. hog farms devastated by a swine virus three years ago have rebuilt their herds to record levels, an accomplishment that has brought equally formidable problems.The value of young "feeder" pigs weighing 10 to 12 pounds, the building block of the U.S. pork sector, has plunged by nearly three-quarters this year, according to U.S. Department of Agriculture data. Click here to read full stories.
Aug 23 - Asian Crude Palmoil May Remain Under Pressure on July Output (Dow Jones)
Asian crude palm oil prices could remain under pressure after the Malaysia Palm Oil Board data release on Monday showed that palm oil production was up 3.5% in July from a year earlier to 1.59 million metric tons. Palm oil prices have rallied strongly over the last few weeks due to concerns that production hadn't improved as quickly as expected, following the devastating El Nino phenomenon earlier this year. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange fell 35 ringgit to MYR2543 per ton. Click here to read full stories.
Aug 22 - Asian Crude Palmoil Ends Lower on Production Concerns (Dow Jones)
Asian crude palm oil prices end Monday end in the red on worries about higher output. "Investor sentiment is low on worries of a rise in palm oil production," says a Kuala Lumpur-based trader. Crude palm oil output rose 3.5% to 1.59 million tons in July, according to the Malaysian Palm Oil Board. The fall in crude palm oil prices come despite a strong export performance. On Sunday, cargo surveyor Intertek Agri Services estimated Malaysia's palm oil exports during the Aug. 1-20 period, up 25.6% from a month ago at 1,027,039 metric tons. Another surveyor SGS (Malaysia) Bhd. estimated Malaysia's palm oil exports during the same period up 27.4% on month at 1,045,079 metric tons. Benchmark palm-oil futures for November on the Bursa Malaysia Derivatives Exchange fell MYR36 to MYR2542/ton.
Aug 22 - Russian ministry proposes zero wheat export tax - agencies
The Russian agriculture ministry has proposed reducing a floating wheat export tax to zero until July 1, 2017, Russian news agencies reported on Friday, citing a senior official at the ministry.The official's comments dented the hopes of traders who had expected the ministry to propose cancelling altogether the tax mechanism, which is at a minimum level of 10 roubles ($0.16) per tonne now but could rise if the rouble currency declines. Click here to read full stories.
Aug 22 - Bangladesh turns to Black Sea region for wheat as India supply fades
Grain millers in Bangladesh are boosting their wheat purchases from Russia and Ukraine as cargoes from key exporter India fade due to a supply squeeze in that country.Bangladesh has booked about 800,000 tonnes of wheat from the Black Sea region for shipment between mid-July and October, up from around 550,000-600,000 tonnes in the same period last year, two trade sources said. Click here to read full stories.
Aug 22 - Argentina seen planting less soy this year as corn area expands
Argentine soy planting area will shrink by up to 4 percent this year as farmers use more land to produce corn, analysts said, citing the government's elimination of corn export taxes.Argentina is the world's No. 3 corn and soybean supplier. Growers around the Pampas farm belt will start sowing both crops next month, at the start of the Southern Hemisphere spring. Click here to read full stories.
Aug 22 - Speculators back away from bullish bets on cotton as prices sink
Speculators retreated from their largest net long position in cotton contracts on ICE Futures U.S in 8-1/2 years in the week ended Aug. 16, also slashing their coffee net long to a two-month low, U.S. government data showed on Friday.They cut their bullish bets in raw sugar but raised their net long position in cocoa futures and options, the Commodity Futures Trading Commission data showed. Click here to read full stories.
Aug 22 - Trump team talks trade, labor with U.S. farm groups
Advisers to Republican presidential nominee Donald Trump pledged to U.S. agricultural groups that he will give growers and states a say on national farm policy should he be elected, two association leaders said on Friday.Eleven groups representing farmers, seed companies and other players in the sector met for the first time with Trump's top agricultural advisers in Washington on Monday to make recommendations on policy, following a similar meeting with representatives of rival Democratic nominee Hillary Clinton in June. Click here to read full stories.
Aug 22 - More cattle entered U.S. feedlots in July than anticipated - USDA
Cattle placed in U.S. feedlots in July rose 2.0 percent compared to a year earlier, the U.S. Department of Agriculture said on Friday, which topped most analysts' estimates. Chicago Mercantile Exchange live cattle futures' wide discounts to what packers paid feedlots for slaughter-ready - or cash - cattle. That encouraged sellers to send animals to market earlier than they otherwise would have, analysts said. Click here to read full stories.
Aug 19 - Asian Crude Palmoil Rises After Profit Taking (Dow Jones)
Bursa Malaysia benchmark palm oil contracts bounced back to reverse losses, which traders attribute to profit taking after a sharp rally in prices. However, palm oil continues to be supported by concerns that yields haven't recovered as quickly as expected following the El Nino phenomenon earlier this year, while exports remain solid. The Bursa Malaysia November palm contract ended up 3 ringgit a ton at MYR2,579 per ton.
Aug 19 - USDA forecast gives mixed signals to soybean market – Braun
Although last Friday’s soybean supply and demand report from the U.S. Department of Agriculture delivered a bearish feel to the market, there were quite a few bullish components lurking within. USDA projected record U.S. soybean yields for this year’s harvest, offsetting a massive demand-based decrease in domestic old-crop carryout of 95 million bushels. Click here to read full stories.
Aug 19 - U.S. corn syrup makers seek record prices even as sugar finds more favor
All four of the major U.S. corn syrup makers are raising prices, letters to customers seen by Reuters show, despite a years of slowing demand and as food companies such as McDonald's Corp swap the syrup for sugar in their products. Corn sweetener manufacturers including Archer Daniels Midland Co and Cargill Inc sent letters to buyers this month seeking to lock in forward prices for 2017, in the annual kickoff to negotiations.Click here to read full stories.
Aug 19 - Ukraine grain exports jump 41 pct in July - analyst
Ukraine's grain exports rose by around 41 percent in July versus June to 2.8 million tonnes, analyst UkrAgroConsult said on Thursday. Agriculture ministry officials said this week Ukraine could export a record 41 million tonnes of grain in the 2016/17, including 17 million tonnes of wheat. Click here to read full stories.
Aug 19 - China July cotton imports drop 10 pct on year
China, the world's top textile exporter, imported 94,800 tonnes of cotton in July, down 10.2 percent year-on-year, the China Cotton Association said late on Thursday. Cotton imports fell 49.5 percent to 525,000 tonnes in the first seven months of this year, it said, citing customs data. Click here to read full stories.
Aug 19 - South Africa grain body says court rules government must hike wheat tariff
A South African court has ordered the government to increase the tariff on wheat imports by 30 percent, the country's largest grain producer body said on Thursday, a measure that should have been implemented weeks ago. South Africa changes the tariff on a regular basis using a variable formula based on world price movements. Industry group Grain SA says the tariff should have been adjusted in late May to 1,591 rand a tonne, from 1,224 rand, a 30 percent hike. Click here to read full stories.
Aug 19 - Online U.S. cattle auctions set to resume as gov't examines markets
An online U.S. cattle auction that ranchers and traders hope will restore transparency to livestock pricing and reduce volatility in futures contracts is set to resume operations in September following a three-month halt, its owner said on Thursday. Separately, a U.S. watchdog agency said it will take at least nine months to complete a government review of U.S. cattle markets that was prompted by complaints about a sharp drop in prices last year. Click here to read full stories.
Aug 19 - Argentina lowers its wheat area estimate to 5.19 mln hectares
Argentine farmers will likely plant 5.19 million hectares with wheat this year, the agriculture ministry said in its monthly crop report on Thursday, cutting its previous estimate of 5.25 million hectares. The ministry cited excessive rains in some farm areas as the reason for the adjustment. The estimate remained well above the 4.3 million hectares that the Buenos Aires Grains exchange estimates for the nearly completed 2016/17 planting season. Click here to read full stories.
Aug 19 - U.S. EPA has not completed required review of biofuel mandate -report
The U.S. Environmental Protection Agency has not complied with federal requirements to study the effects of the nation's biofuel use mandate, an agency watchdog said on Thursday. EPA's Inspector General concluded that the agency has not issued a report to Congress on the environmental impacts of the Renewable Fuel Standard (RFS) since 2011, even though federal law requires that the agency provide a report every three years. Click here to read full stories.
Aug 19 - Asian Crude Palm Oil Rallies as Supply Concerns Persist (Dow Jones)
Asian crude palm oil prices have rallied in early trade after a couple of days of profit taking, says a Kuala Lumpur-based trader. He notes that plantation operators are saying that supply has been slower than expected and this is causing concern about supply. The Bursa Malaysia 3-month palm oil contract is trading up 22 ringgit at MYR2598 a ton.
Aug 18 - Asia Crude Palmoil Trades Lower, Likely on Profit Taking (Dow Jones)
Asian CPO is trading sharply lower. This was likely due to profit taking as the price of palm oil has risen sharply over the last couple of weeks. Prices, however, remain elevated as investors worry that supply will remain tight over the coming weeks as both India and China rebuild stocks and production has not recovered from the El Nino as quickly as some expected. The Bursa Malaysia three-month palm oil price ends down 65 ringgit to 2578 ringgit a ton Thursday.
Aug 18 - Asian Crude Palmoil Dips but Prices Remain Strong (Dow Jones)
Asian crude palm oil futures contracts are slightly lower in early trading although the futures contract remains high. Prices have rallied strongly in recent weeks on an improvement in exports from Malaysia and expectations that both China and India will need to rebuild stocks of palm oil, having let them reduce at the start of the year. The Bursa Malaysia three-month palm oil contract is down 8 ringgit a ton at 2635 ringgit a ton.
Aug 18 - Monsanto gives Bayer limited access to its books - sources
U.S. seed company Monsanto has given German suitor Bayer AG limited access to its books after turning down a sweetened $64 billion takeover offer last month, two sources familiar with the situation told Reuters. The parties have not yet signed a non-disclosure agreement, which would allow Bayer to conduct due diligence, but Monsanto is giving the company a limited drip of information, the sources said. Click here to read full stories.
Aug 18 - France wheat imports set to continue after poor crop
A vessel is due to reach France next week to unload wheat from Bulgaria while cargoes of UK wheat are also expected at French ports, shipping data showed on Wednesday, in a sign of unusual imports of wheat into France following a poor harvest. The bulk carrier AS Elenia is transporting 33,500 tonnes of wheat that was loaded at the Bulgarian Black Sea port of Varna, the data showed. Click here to read full stories.
Aug 18 - Ukraine sees high 2016 grain harvest, record exports
Ukraine's 2016 grain harvest is likely to be around 63 million tonnes - 3 million more than last year, agriculture ministry official Leonid Sukhomlin said at a briefing on Wednesday. He said better than expected weather this spring and summer had increased the yield of wheat and other grains. Click here to read full stories.
Aug 18 - Philippines to buy 1 mln tonnes of rice as prices drop
The Philippines, one of the world's top rice buyers, is planning to import 1 million tonnes of the grain to secure supply of the country's food staple through next year while prices are low, Economic Planning Secretary Ernesto Pernia said on Thursday. The immediate volume to be purchased will be the 250,000 tonnes that the government announced on Aug. 9, followed by another tranche of 250,000 tonnes, he said. Click here to read full stories.
Aug 18 - Monsanto's Climate Corp to expand digital farming platform
Monsanto Co's Climate Corporation is building a network of in-field sensors to expand the scope of soil, weather and other data flowing into its digital agriculture tools that help farmers increase crop yields and reduce costs, the company said on Wednesday. San Francisco-based Climate also said it will open up its software infrastructure to third-party developers, enabling them to create new applications that enhance the data-fueled services it currently offers. Climate announced a deal with a Kansas-based soil sensor company on Wednesday but did not disclose terms. Click here to read full stories.
Aug 18 - Can U.S. corn actually pull off 175 bushels per acre? Braun
Last Friday, the agriculture market was hit with the news that big yields will make the world's largest corn crop significantly larger in 2016. In its much-anticipated August report, U.S. Department of Agriculture’s statistics agency placed domestic corn yield at 175.1 bushels per acre. This easily tops both what the market was expecting (170.6 bushels per acre) and 2014’s record (171 bushels per acre). Click here to read full stories.
Aug 18 - U.S. senator expresses concern about ag tech mergers
Two major mergers in agricultural technology and seeds could hurt competition in the industry and make it harder for smaller companies to compete, Senator Charles Grassley, chairman of the Senate Judiciary Committee, wrote in a letter on Wednesday sent to antitrust enforcers. Grassley, a Republican from Iowa, urged the Federal Trade Commission, which is reviewing the purchase of Syngenta AG by the China National Chemical Corp, and the Justice Department, which is looking at the merger of Dow Chemical Co and DuPont Co, to coordinate on the two reviews. Click here to read full stories.
Aug 17 - Asian Crude Palmoil rallies on Soybean Gains, Stronger Exports (Dow Jones)Asian crude palm-oil prices rallied sharply buoyed by gains in soybean oil prices on the Chicago Board of Trade. Soybean oil is used as a substitute for palm oil so the prices often impact each other. Traders said robust exports may have also lent support to the market as data from cargo surveyor Intertek Testing Services this week showed a 30% jump in palm-oil shipments in the first half of August compared to the same time last month. David Ng, an analyst at Philip Futures brokerage in Kuala Lumpur expects prices to trade between 2550 ringgit a ton and 2680 ringgit a ton during the next few days. The November benchmark palm-oil contract on the Bursa Malaysia Derivatives Exchange last traded 109 ringgit higher at 2,648 ringgit a ton Wednesday. Click here to read full stories.
Aug 17 - Asian Crude Palmoil Bounces on Bargain Hunting (Dow Jones)
The Asian crude palm oil has bounced in early trading, likely due to some bargain hunting
after prices fell Tuesday following the sharp rally over the past couple of weeks. Prices are expected to hold up over the coming months as exports continue to improve and there are expectations that demand from China and India will continue as stocks remain low in both countries, traders said. The Bursa Malaysia benchmark 3-month contract is up 31 ringgit at MYR2570 a ton.
Aug 17 - Russia faces lack of grain storage as record crop looms - union
Russia is facing a lack of grain storage as it remains on track to produce the largest cereals crop in post-Soviet history, the head of Russia's Grain Union, a non-government farmers' lobby group, said on Tuesday. Arkady Zlochevsky, the head of the union, told a briefing in Moscow he expected a grain crop in a range of 114-118 million tonnes, including 69.5 million tonnes of wheat. Click here to read full stories.
Aug 17 - Indian refiners switch to soyoil as palm prices rally
The share of palm oil in India's growing edible oil imports is likely to plunge to a record low this marketing year as a rally in prices slashes its discount over rival soyoil. That shift in the world's top palm oil importer could drag on benchmark prices for palm oil that have surged around a third in the last 12 months, while bolstering markets for soyoil. Click here to read full stories.
Aug 17 - UK farmland demand falls sharply as Brexit adds to price woes
Demand for farmland in Britain fell sharply in the first half of 2016, hurt by low commodity prices and uncertainty around the European Union membership referendum, the Royal Institution of Chartered Surveyors (RICS) said on Wednesday. Forty-nine percent of chartered surveyors said they expected prices to fall across all types of farms in the coming year, according to RICS and the Royal Agricultural University survey. Click here to read full stories.
Aug 17 - German 2016 wheat, rapeseed crops seen down after repeated rain
Germany's 2016 wheat harvest will fall 8.8 percent on the year to 24.21 million tonnes after crops suffered from rain but crop quality in export regions is still expected to be good, the country's association of farm cooperatives said on Tuesday. The latest forecast is below the 25.4 million tonnes the association estimated in July with crops in the meantime suffering from persistent harvest-time showers in major German grain belts. Click here to read full stories.
Aug 17 - Trump names six U.S. governors as agricultural advisors
U.S. Republican presidential nominee Donald Trump named 64 agriculture policy advisors on Tuesday, including the governors of Iowa and five other farm states and a former federal agriculture