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The American Soybean Association (ASA) on Monday welcomed the “positive” outcome from the weekend meeting between the U.S. and Chinese leaders in Argentina, calling for repairing the “damage done to our trade relations with China.” “This is the first positive news we’ve seen after months of downturned prices and halted shipments,” said ASA president John […]
China will need to drop steep tariffs it imposed on a range of American farm products earlier this year before it can fulfill its pledge to buy substantial volumes of U.S. goods, said Chinese traders on Monday. China and the United States agreed on Saturday to a ceasefire in a months-long trade war that has […]
Onducted at the end of the summit G20 negotiations between the US and China became the main event of the meeting of world leaders, as the trade war between the two key economies have caused damage to other countries. During the meeting J. trump and XI Jinping, which lasted more than 2 hours, it was […]
High prices this year have encouraged growers to increase wheat plantings for the 2019 crop. Good drilling conditions this autumn also contributed to the rise in plantings, according to data from the Agriculture & Horticulture Development Board (AHDB) Early Bird Survey. This goes against the recent trend of greater spring cropping. As a result, the […]
India’s wheat production could fall in 2019 from record output this year as lower moisture levels and higher temperatures in key growing regions are threatening yields of the winter-sown crop, farmers and analysts told Reuters. A drop in output could lift local wheat prices and force the world’s second-biggest producer to reduce import taxes on […]
U.S. wheat prices are lower than those of competing countries, but experts say it’s still a tough export market. Market analyst Stephanie Bryant-Erdmann cites International Grains Council data, saying U.S. wheat is now a better value than that of all major competitors, with U.S. soft red winter wheat at $216 per metric ton, $10 per […]
Australia has lowered its wheat production forecast by 11% to the smallest in a decade amid a crippling drought across the country’s east coast that may cut exports from the world’s fourth biggest supplier. Wheat production during the 2018/19 season will total 16.95-million tons, the Australian Bureau of Agricultural and Resource Economics and Sciences (Abares) […]
Brazilian sugar companies are increasing their capacity to produce ethanol in the face of depressed global sugar prices and government policies expected to boost demand for the biofuel. A shift to ethanol in the 2018-19 season slashed Brazil’s sugar output by 9 million tonnes to a 12-year low and more switching to the biofuel next […]
Soybeans weren’t on the menu, but it looks like President Donald Trump’s dinner date in Buenos Aires with his Chinese counterpart Xi Jinping gave the market the jolt it’s been desperately looking for. Futures jumped after trading in Chicago began on Sunday. The White House said in a statement that China will start buying U.S. […]
Malaysia extended its zero export tax on palm oil until January 1, 2019, reports UkrAgroConsult. The export tax on crude palm oil at zero percent has been applied since September 2018. It equaled 4.5 percent in August. Reference price of palm oil in December will be MYR 1975.5/MT (USD 471.37/MT). If its price exceeds MYR […]
The Economic Coordination Committee (ECC) on Friday accorded an approval to gift 40,000 metric tons of wheat to Afghanistan. Finance Minister Asad Umar chaired a meeting of the ECC which agreed to gift wheat worth Rs1.73 billion to Afghanistan. The ECC also approved the release of funds to the Pakistan Poverty Alleviation Fund (PPAF) for […]
Malaysia maintained its export tax on crude palm oil for December at zero percent, according to a circular on the Malaysian Palm Oil Board’s website, citing the national customs department. The export tax was at zero percent in November. Malaysia is the world’s second-largest producer of palm oil. The Southeast Asian nation calculated a palm […]
The Egyptian state buyer GASC purchased 10 KMT of sunflower oil and 40 KMT soybean oil in a tender held on November 28, 2018, reports UkrAgroConsult. According to market participants, the sunflower oil was bought from ADM (10 KMT at a price of USD 673/MTm with a 180-day payment delay), the soybean oil was bought […]
The Primary Industry and Regions SA (PIRSA) crop and pasture report for spring has been released and the results are saddening for our local farmers. After a year filled with drought like conditions and with some areas thriving, the health of crops and pastures across the state is a varied result. The 2018-19 harvest has […]
Sugar production in the European Union could drop sharply in 2019/2020 as farmers consider slashing plantings and switching to other crops amid depressed prices. European producers are not planting extra beet area and some are turning to other crops offering better returns, Martin Todd, managing director at LMC International, told the International Sugar Organization’s annual […]