SHANGHAI, (Reuters) – China plans to remove soybean oil, rapeseed oil and palm oil from its import tariff quota management, its commerce ministry said on Wednesday. The news comes after the ministry said on Tuesday Chinese companies had stopped buying U.S. agriculture products in response to U.S. President Donald Trump’s decision last week to impose tariffs on […] Read more
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China to remove soybean oil, rapeseed oil, palm oil import quotas
DSM to file for Brazil registration of methane-reducing feed additiv
SAO PAULO, (Reuters) – DSM, a Dutch health and nutrition company, will imminently file for Brazilian registration of a new feed additive for cows that can cut methane emissions by around 30 percent, a company executive told Reuters in an interview on Wednesday. Methane is a natural byproduct of digestion in cows and other ruminants, […] Read more
Tyson Foods hits record high, prepares for China profit boost
(Reuters) – Tyson Foods Inc reported better-than-expected quarterly earnings on Monday and reaffirmed expectations it will profit from the spread of a fatal hog disease in China, sending shares to a record high. Tyson has not yet reaped major financial gains from the deaths of millions of pigs in China‘s outbreak of African swine fever, Chief Executive […] Read more
China’s COFCO plans to boost Brazil ops
SAO PAULO, (Reuters) – Chinese commodities trader COFCO plans to increase investments in Brazilian operations as the business environment in the country is likely to improve after approval of economic reforms, the company’s chairman, Johnny Chi, said on Monday. Speaking at Brazil’s 2019 Agribusiness Congress, Chi said COFCO is looking at investments such as new […] Read more
On cusp of pan-African trade deal, giant Nigeria clings to protection
LAGOS, (Reuters) – Adeleke Adeleye stands in front of a bank of whirring printers spinning out dozens of envelopes a minute in Nigeria’s commercial capital of Lagos. His stationery company, FAE Ltd, is thriving and will move into a larger factory nearby by the end of next year. But he sees trouble on the horizon […] Read more
From phone makers to farmers, the toll of Trump’s trade wars
(Reuters) – U.S. President Donald Trump on Thursday said he would impose a 10 percent tariff on the remaining $300 billion of Chinese imports as tensions with China spiked again, the latest salvo in a yearlong trade war between the world’s two largest economies. The levies, due to begin on Sept. 1, would hit a […] Read more
U.S. cows and pigs gorge on bakery rolls, pet food as corn prices surge
CHICAGO, (Reuters) – U.S. farmers are feeding their livestock everything from outdated pet food and leftover bakery rolls to crops imported from South America after unprecedented spring planting delays boosted prices for locally grown corn. Corn is typically used to fatten hogs, cattle and poultry, but its high price has farmers in the $150 billion […] Read more
Brazil’s Amaggi to raise cotton area, cut corn and soy acreage
SAO PAULO, (Reuters) – Brazil’s privately owned grain farmer and trader Amaggi will reduce soy and corn plantings in the coming season and increase cotton acreage after betting high on the latter commodity, a company executive said on Friday. Pedro Valente, Amaggi’s director general, said at a farming event in São Paulo that the firm […] Read more
ICE canola futures rise on short covering, halt skid
Manitoba (Reuters) – ICE canola futures rose on Friday, halting a four-day skid on short-covering and strength in soyoil. Funds covered part of their short position after the November contract bounced off the support level of $440 on Thursday, a trader said. Lack of export demand, with China not buying Canadian canola, overhangs the market, […] Read more
Western Canadian wheat: Bids down across U.S. markets
WINNIPEG, (MarketsFarm) – Wheat bids in Western Canada were down for the week ended August 1. There were losses in Canadian Western Red Spring Wheat (CWRS), Canadian Western Amber Durum (CWAD) and Canada Prairie Red Spring (CPRS) in all locations. Little change in the Canadian dollar and declines in Kansas City, Chicago and Minneapolis wheat […] Read more
