Markets
SYDNEY, June 3 (Reuters) – Forecast heavy rains over Australia’s east coast next week are expected to boost wheat production above official estimates in the world’s fourth largest exporter, analysts said on Friday. As much as 100 millimetres is forecast to soak most of Queensland, New South and Victoria states over the next eight days, […] Read more
Markets
Heavy rains expected to drive Australian wheat production above estimates
U.S. soybeans climb to two-year high on Argentina rains
LONDON, June 3 (Reuters) – U.S. soybean futures climbed to a two-year high on Friday as renewed rain in Argentina heightened concerns about crop losses in the world’s number three producer. Wheat prices also rose as heavy rains dented crop prospects in western Europe while corn futures were supported by a diminished outlook in Brazil […] Read more
Record Brazil corn prices shrink poultry, hog producers
SAO PAULO, June 3 (Reuters) – Stubbornly record-high corn prices in Brazil, the world’s No. 2 exporter of the grain, are compelling pork producers to slaughter sows they cannot afford to feed and poultry processors to close plants. Southern states that are the traditional home to pork and poultry plants have been hardest hit by […] Read more
Niger confirms bird flu outbreak in poultry
PARIS, June 3 (Reuters) – Niger has reported an outbreak of the highly pathogenic H5N1 bird flu virus among poultry, the World Organisation for Animal Health (OIE) said on Friday, as the disease continues to hit flocks across West Africa. Niger’s veterinary services submitted a notification to the OIE on Thursday after the outbreak was […] Read more
Indian demand key to red lentil exports
Sean Pratt reports from the Global Pulse Convention in Cesme, Turkey, about what is driving pulse markets. CESME, Turkey — Red lentil production will likely be way up this year, but India is expected to consume most of the increase. Gaetan Bourassa, chief operating officer of AGT Food and Ingredients, said red lentil prices will […] Read more
Green lentils a hot commodity
Sean Pratt reports from the Global Pulse Convention in Cesme, Turkey, about what is driving pulse markets. CESME, Turkey — Canada is sold out of green lentils, and the forecast is for another tight year in 2016-17. “Farm bins are empty. Warehouses and pipelines are empty,” said Gerald Donkersgoed, vice-president of Ilta Grain. “We have […] Read more
New index tracks farmers’ outlook
Every month the world’s markets watch for the ISM Manufacturing Index to be released. Why isn’t there a similar gauge for the U.S. farming and agriculture sector? That’s a question Purdue University and the CME Group tackled and, they hope, eliminated with the introduction of the Purdue/CME Group Ag Economy Barometer. Now investors, lenders, traders […] Read more
Crop price rally could lose strength as weather improves
I would be surprised if the crop price rally of April and May can continue into June. Crop prices rallied as the market assessed the damage to soybeans in Argentina from the excessive rain in April and dry weather in Brazil’s corn growing region. Analysts now believe the rain slashed Argentina’s soybean crop by four […] Read more
Short supply of chickpeas could boost pea exports
CESME, Turkey — If desi chickpea production falters in any of the main production regions, there will once again be strong demand for Canadian yellow peas, say analysts. G. Chandrashekhar, a global agribusiness specialist from India, is forecasting 9.95 million tonnes of global desi chickpea production in 2016-17, up seven percent from the current crop […] Read more
U.S. reviews high-speed trading’s effect on cattle pricing
CHICAGO, Ill. (Reuters) — A U.S. watchdog agency will launch a review of cattle pricing, including the impact of high-frequency trading on futures, after ranchers complained about a sharp price drop last year. The U.S. Government Accountability Office has accepted a request from the Senate judiciary committee to study the reasons for the decline, an […] Read more
