EU touts jump in soybean imports from US

BRUSSELS, Aug 1 (Reuters) – EU soybean imports from the United States almost quadrupled early in the new marketing year, the European Union said, a week after it struck a deal with U.S. President Donald Trump to avert a trade row, as buyers responded to a sharp drop in prices. The EU said in a […] Read more

Bunge posts surprise loss on trade-related soy hedges

CHICAGO, Aug 1 (Reuters) – Global grains merchant Bunge Ltd reported a surprise quarterly loss on Wednesday as its agribusiness unit took a $125 million hit from soybean hedges tied to the trade dispute between the United States and China. Shares of the White Plains, New York-based company fell 2.9 percent in early trading to […] Read more

ADM earnings double, helped by U.S.-China trade row

CHICAGO, July 31 (Reuters) – Archer Daniels Midland Co’s net profits doubled in the second quarter and beat Wall Street estimates, after a drought in Argentina and the U.S.-China trade spat boosted the U.S. grain merchant’s trading and oilseed processing businesses. Shares were up 1 percent at $47.86 after touching a three-year high on the […] Read more

G20 agriculture ministers slam protectionism, pledge WTO reforms

BUENOS AIRES, July 28 (Reuters) – Agriculture ministers from the G20 countries criticized protectionism in a joint statement on Saturday, and vowed to reform World Trade Organization (WTO) rules, but did not detail what steps they would take to improve the food trade system. In the statement, they said they were “concerned about the increasing […] Read more

U.S. says farmers could get cash aid by Oct but will not be made whole

BUENOS AIRES, July 28 (Reuters) – U.S. farmers could receive cash payments from a planned $12 billion aid package as soon as late September, U.S. Agriculture Secretary Sonny Perdue told Reuters on Saturday, warning that the program will not make tariff-hit farmers whole. Perdue said in an interview on the sidelines of the G20 meeting […] Read more

Australian grain giant GrainCorp opens trading office in Ukraine

KIEV, July 27 (Reuters) – Australian grain giant GrainCorp has opened a trading office in Ukraine, the company said on Friday. A new firm, GrainCorp Ukraine Ltd, was registered on May 14 and plans to trade agricultural raw materials, grain, seeds, and animal feed. Earlier this year GrainCorp, a leading international agribusiness based in Sydney, […] Read more

Bayer, BASF to pursue plant gene editing elsewhere after EU ruling

FRANKFURT, July 27 (Reuters) – Bayer and BASF , among Europe’s largest makers of farm supplies, all but ruled out pursuing genetic plant breeding at home after the EU ruled the technology should be regulated like genetically modified organisms (GMO). The European Court of Justice (ECJ) said on Wednesday mutagenesis-based gene-editing methods such as CRISPR/Cas9, […] Read more

As trade war crushes China’s soybean mills, U.S. rivals make hay

BEIJING/CHICAGO, July 27 (Reuters) – Over the past few months, Chinese mills have bought every cargo of soybeans they can lay their hands on to prepare for Beijing’s imposition of hefty tariffs on U.S. imports. Now, at least 20 factories – including two of China’s largest – have cut or suspended output in the most […] Read more