Tag Archives: Corn

Grain-Soybeans at 4 years high on demand, Brazil’s dry weather supports prices | Instant News

* Soybeans rose to their highest since July 2016, rising for the 3rd session

* Corn company, wheat rose 0.9% after closing slightly lower (Adding quote in paragraph 3, updating prices)

SINGAPORE, Nov 5 (Reuters) – Soybean prices in Chicago soared to their highest level in more than four years on Thursday, rising for the third straight session, due to dry weather in parts of South America and strong demand from the world’s biggest importer, China, support prices.

Corn gained more, while wheat rose after closing slightly lower in the previous session.

“China is actively buying coffee beans and we are seeing additional demand emerge from Brazil,” said one Singapore-based trader. “The weather isn’t perfect for Brazil and the harvest will likely be delayed due to dry weather.”

The Chicago Board of Trade’s most active soybean contract was up 0.7% at $ 10.94 per bushel, at 0306 GMT, after rising to its highest level since July 2016 at $ 10.95 per bushel earlier in the session.

Corn added 0.6% to $ 4.07-1 / 2 per bushel and wheat increased 0.9% to $ 6.11-1 / 2 per bushel.

Parts of Brazil’s soy growing region have received rain this week, but other areas need humidity, and La Niña weather patterns remain a risk to crops across South America.

Traders have also started looking ahead to the November 10 supply / demand report from the US Department of Agriculture (USDA), which some analysts expect will show a decline in US soybean yields and an increase in export forecasts.

US final corn stocks, currently projected by the USDA to be more than 2.1 billion bushels, could also fall on rapid demand, analysts said.

“China’s strong return to the US soybean market in recent months has lifted US agricultural exports to Asian economies to new records, and the busy delivery schedule bodes well for the promises outlined in the Phase 1 trade agreement between the two countries. , ”Wrote Karen Braun, market analyst for Reuters, in a column.

Most of Ukraine’s winter grain crops grown for the 2021 harvest are in good and satisfactory condition, APK-Inform analysts said on Wednesday, citing weather forecasters.

Commodity funds are net buyers of CBOT soybean, corn, soymeal and soybean futures on Wednesday, and net sellers of CBOT wheat futures, traders said. (Reporting by Naveen Thukral; Editing by Rashmi Aich and Sherry Jacob-Phillips)


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Brazil will remove tariffs on corn and soybeans until 2021, sources said | Instant News

RIO DE JANEIRO, Oct 17 (Reuters) – The Brazilian government has decided to temporarily remove tariffs on corn and soybean imports from countries outside the Mercosur trading bloc until next year, a source with direct knowledge of the matter told Reuters.

The decision was taken late on Friday at a meeting of Gecex, the technical body in the economy ministry, the source said, confirming a Reuters report from Thursday.

Imports of soybean meal and soybean oil will also be exempted along with soybean imports until January 15, 2021, while corn imports will not pay the tariff until March 31, 2021, said the source, who requested anonymity to speak freely.

Brazilian meat trading group ABPA, which represents the poultry and pork sectors, which rely on both grains for animal feed, requested exemption last month, arguing that Brazil’s current record high prices have hurt their margins.

The import tariff for corn and soybeans from outside Mercosur, which includes Paraguay, Uruguay and Argentina, is currently 8%.

The economy and agriculture ministry declined to comment.

Brazil’s Ministry of Economy decided in early September to cut tariffs on rice imports to zero by the end of the year, amid record high prices for the grain. (Reporting by Rodrigo Viga Laier; Editing by Tom Brown)


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GRAINS-Corn, soybeans increased in drought South America; grain company | Instant News

* Dry weather in South America raises concerns ahead of planting

* Pressure from rising US crop caps; grain gains (Reshapes with changes in market direction; adds quotations in paragraphs 3-4)

SINGAPORE, Sept. 28 (Reuters) – Chicago soy and corn futures ticked higher on Monday, with dry weather in major producers Brazil and Argentina supporting prices, although pressure from US harvests held back gains.

Wheat edged up after closing lower in recent sessions.

“A little rain in Argentina and Brazil over the weekend is useful – if it does rain. The area is problematic even though it’s mostly not raining, ”said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia.

“And temperatures remain high out of season, accelerating evaporation for moisture. Another week (dry weather) and the forecaster should start thinking about the impact of delaying planting at least. “

Chicago Board of Trade (CBOT) most active soybean contract added 0.2% to $ 10.00-3 / 4 per bushel, at 0321 GMT, corn was up 0.1% at $ 3.65-1 / 2 per bushel and wheat rose 0.2% to $ 5.45-1 / 4 per bushel.

However, profits were limited due to accelerated US corn and soybean harvests and farmers’ book sales.

Big speculators raised their net long positions in CBOT corn futures for the week ending Sept. 22, regulatory data released on Friday showed.

The Commodity Futures Trading Commission’s weekly commitment of traders report also showed that non-commercial traders, a category that includes hedge funds, cut their net short positions in CBOT wheat and raised their net long positions in soybeans.

The European Association Coceral has cut its forecast for this year’s corn crop in the EU plus Britain to 62.8 million tonnes from the 64.6 million projected a month ago, the grain trade lobby said on Friday, citing the impact of hot and dry weather.

A union representing Argentine grain port workers said on Sunday it would undertake a 24-hour walk-off from midnight after failing to reach an agreement on a collective labor agreement with business chambers representing private port owners.

Ukraine has harvested 37.6 million tonnes of grain from 10.3 million hectares, or 67% of the area sown, Ukraine’s economy ministry said on Friday. (Reporting by Naveen Thukral; Editing by Rashmi Aich and Sherry Jacob-Phillips)


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It’s a strange time to travel | To select | Instant News

Next week we will be in Pennsylvania to visit our daughter who is at school in Erie on Lake Erie This will be one of our most unique trips as face masks are needed for almost the entire trip . Traveling is just not what it used to be. Do you remember when people smoked cigarettes in the middle of the flight? A little light came on to tell the passengers it was time to put out their cigarettes, we were going to land. Smokers who flew on the plane at the time were very upset when new rules banned smoking on board. I have a feeling these same people would be really unhappy with the requirement to wear a mask for the entire flight We received an email reminding us that anyone over 2 years old must also wear a mask at airports except when we were We were also told that we would receive an “ all-in-one ” snack bag that included a wrapped disinfectant wipe, an 8.5 ounce water bottle and two snacks, as well as a sealed drink on flights over 2 hours and 20 minutes. “On flights shorter than that, we’ll have a sealed drink and that’s it. No more friendly flight attendant taking our drink order. Erie is quite close to Niagara Falls. We were wondering if we could see it or not, as people like to go to the Canadian side for a better view, and the border between the US and Canada is closed at least until the end of August. which is the boat that takes you near the falls, was closed in June, it is now open on the US side and available for people in good health, wearing masks and willing to stand at least 6 feet from other people on a small boat .Fort Niagara opened in July and is available for healthy masked visitors, which is the same for all the restaurants we stop at. There won’t be any buffets though, and it looks like food “that requires minimal preparation” will be the rule. Fortunately, Pennsylvania is not on the list of states that require a 14-day quarantine when we arrive home. We were also assured that the plane is cleaned within an inch of its life and that airports will be cleaner than our homes. Still, we have small containers of disinfectant to use liberally when we feel too far away from a sink and soap, and we’ll avoid other people like the plague. our face, and white where the mask was. It’s a strange time to travel. .

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Chinese Food Crisis? Rising Domestic Prices And Large Import Purchases Send Signals | Instant News

Rising demand, floods, insect infestations, and rumors about spoiled supplies all contribute to the development of misery related to Chinese food.

China has a food problem. For a country whose leaders are old enough to be directly affected Great hunger, the seriousness of lack of food can not be overestimated. China’s growing population, growing industrial economy, and a culture of consumerism that continues to grow, all contribute to increasing demand for stable agricultural products.

But agricultural production, if no one forgets, is subject to the biblical power of floods, fire, epidemics, and a number of other variables, some of which now interfere with the stability of soft Chinese food. The most populous country in the world will certainly not run out of food, but prices will rise and instructions for tightening supplies will emerge. Things might get worse before they get better.

Three main problems are challenging China today: floods, disease outbreaks, and inventory problems.

Flood Threatens Rice, Wheat, and Other Plants

Above average rainfall and rising flooding are not only fair threatened to compromise China’s giant Three Gorges Dam; rain and floods are already disturbing rice, wheat and others crop production in the province along the Yangtze River.

Perhaps this is why China, which has more than half of the world’s wheat supply and is the second largest wheat producer in the world (behind the European Union), imported more wheat in the first half of 2020 than in the first half. every year in the last decade. In June alone, the one-month volume of wheat imports in China from all sources was the highest in seven years.

Inventory Problems and Insect Infestations Threaten Corn

According to the USDAChina is not only the second largest corn producer in the world (behind the United States), China will also have 65 percent of the world’s corn supply by the end of this harvest year. But last week a press report appeared citing poor quality in several state-owned corn stocks, some of which were years old. The report coincides with two large purchases of Chinese corn from the United States, one of which is the largest purchase ever (1.76 million metric tons or 69 million bushels).

In addition, corn prices in China have risen to 5-year highs even though China recently sold more than 1.4 billion bushels of corn from the country’s reserves, which would indicate there are definite problems with China’s corn supply. The USDA Foreign Agriculture Service points to an extraordinary and intense start Fall Army Worm infestation in June as a possible cause of anxiety for Chinese corn today.

Demand Increases

It is noteworthy that this year China is on the move to carry out the highest level of US soybean purchases since 2014, and June Chinese soybean imports from Brazil rose 91% from the previous year. China is aggressively buying soybeans and soy products to feed the growing pigs, the largest in the world. In fact, the USDA projects that China will import from all sources a record total soybean amount next year.

Overall, the past few months have seen China increase imports of pork, soybeans, soymeal, wheat, corn, sorghum and frozen / fast food from the United States and elsewhere. China cannot feed itself; it needs world help, especially if its domestic production and inventory is disrupted.

It is still too early to measure the total severity of China’s total food misery, and it is highly unlikely that the ripple effects of Chinese food problems will flow through the global food chain, but currently Chinese leadership has food security as a major concern.


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