Oilseed prices have been pushed higher by reduced production expectations, particularly worries over the size of the soybean crop in the United States, and strong demand, with large imports by China. Better-than-expected usage in the US biodiesel industry and tighter supplies in Brazil have added to the bullish tone. Read more…
SHANGHAI, CHINA — Chinese officials are considering permits for millions of tonnes of additional corn imports in the next year as demand for animal feed surges, according to Asia Times Financial. Read more…
KANSAS CITY, MISSOURI, US — When one thinks of Russia’s Siberian territory, the image of frozen, snow-covered tundra comes to mind. Yet, in 2020 Siberia recorded its warmest spring and summer on record, with temperatures reaching 100 degrees Fahrenheit on June 19. Read more…
AHRENSBURG, GERMANY — With approval of Bioceres Crop Solutions Corp.’s HB4 Wheat for growth and production, Argentina becomes the first nation to approve a genetically modified wheat strain. Read more…
LONDON, ENGLAND – Global grains production and trade are forecast to reach record highs in 2020-21, according to the International Grains Council’s (IGC) latest monthly grain market report, released June 25. Read more…
CHICAGO, ILLINOIS, US, and SÃO PAULO, BRAZIL – CME Group and B3 SA on June 22 announced an agreement to jointly develop risk management products for both Brazilian domestic and global market participants. Under the terms of the agreement, CME Group and B3 will work together to launch futures on Brazilian soybeans in the third quarter of 2020, pending regulatory approvals. Read more…
South Africa is a country on the southernmost tip of the African continent. It is a fairly large country covering a total area of 1.220 million km2 or 471,000 square miles with a total population of 57 million. It is about the size of western Europe. Read more…
RABAT, MOROCCO – Faced with one of the worst droughts in four decades, North Africa is expected to be the world’s top buyer of wheat, Bloomberg reported.
The region’s wheat purchases are expected to increase 7.4% to a record 29.7 million tonnes in the crop year that starts in July, according to US Department of Agriculture forecasts. That level of demand would be higher than the Middle East and Southeast Asia for the first time in three seasons, Bloomberg said. Read more…
BRUSSELS, BELGIUM — COCERAL, in its third forecast of the 2020 season, projects the total grain crops in the EU (including the UK) at 299.2 million tonnes, down from 301.8 million tonnes that was projected in March.
The new projection is also down from the 2019 crop output of 311.8 million tonnes. Read more…
LONDON, ENGLAND – Members of the International Grains Council (IGC) convened virtually for the 51st Council Session on June 8 where it considered recent changes in national policies, the impact of coronavirus (COVID-19) measures on grains, oilseeds and rice trade as well as activities of other international organizations relating to the grains trade. Read more…