Markets
MUMBAI, May 24 (Reuters) – Indian farmers are set to reduce the area given over to soybeans by up to 10 percent this year in response to falling prices, pushing up likely imports of edible oils such as palm oil and soyoil. Soybean is the main summer-sown oilseed crop for the world’s biggest importer of […] Read more
Markets
India’s soybean area seen falling as farmers switch to pulses
Palm oil to rise on El Nino as industry prepares for La Nina
KUALA LUMPUR, May 24 (Reuters) – Malaysia’s Felda Global Ventures chief executive Zakaria Arshad said on Tuesday crude palm oil prices will rise in 2016 because of lower yields from the impact of the El Nino weather phenomenon. Palm oil is expected to average 2,500 ringgit ($607) per tonne in 2016, up from 2,275 ringgit […] Read more
Ukraine 2015/16 grain exports could reach record 40 mln T
KIEV, May 24 (Reuters) – Ukraine’s grain exports may reach a new record of around 40 million tonnes this season thanks to high sales of wheat, analysts and a traders’ union said on Tuesday. Grain traders union UZA and a team of industrial analysts said wheat exports could reach 15.6 million tonnes, while maize shipments […] Read more
Global Pulse Conference: Chickpea market
The Western Producer’s Sean Pratt is reporting from the 2016 Global Pulse Convention in Cesme, Turkey. There were more market outlook presentations during final day of the 2016 Global Pulse Convention. G. Chandrashekhar, a global agribusiness and commodity sector specialist from India, provided his thoughts on the desi chickpea market. He is forecasting 9.28 million […] Read more
Lentil prices debated at Global Pulse Convention
The Western Producer’s Sean Pratt is reporting from the 2016 Global Pulse Convention in Cesme, Turkey. CESME, Turkey — Market outlooks for green lentils, red lentils and beans were the highlights of day two of the 2016 Global Pulse Convention Gerald Donkersgoed, vice-president of Ilta Grain, said Canada is pretty much sold out of green […] Read more
Canola moves slightly higher
Soybean meal roared higher, soybean oil stumbled lower, while canola split the difference and moved slightly higher Friday to close the week atop a nice nearby top. Since the beginning of March, canola has been rallying, and the surge has been remarkably steady, other than a couple of days early this month when July canola […] Read more
Sask. gov’t lays out plan for province
Seeding is ahead of schedule, grass and hay are coming along and Saskatchewan’s agriculture minister is bullish about the future. “I’d go so far as to say that the stars seem to be lining up for an average to better than average crop, although it’s very early,” he said after the May 17 throne speech. […] Read more
FDA to modify food label guidelines to include added sugar details
May 20 (Reuters) – The U.S. Food and Drug Administration said it would update guidelines for nutritional labels on packaged food and beverages to include information on added sugar and to prominently display calorie count and servings. The move comes at a time the United States is staring at increasing childhood and adult obesity and […] Read more
Bayer bids for Monsanto
NEW YORK/FRANKFURT, May 19 (Reuters) – German drug and chemical group Bayer has made an unsolicited takeover proposal to U.S. seed company Monsanto, aiming to create the world’s biggest agricultural supplier and take advantage of converging pesticides and seed markets. Monsanto disclosed the approach on Wednesday before Bayer confirmed its move, though neither released proposed […] Read more
Monitoring crop stocks and Pacific temperatures
Before I get into the U.S. Department of Agriculture’s crop production report, I’ll mention that the cattle market is beginning to recover. Fed cattle prices hit the year’s low two weeks ago, an unusual situation because prices usually rise in spring. However, prices bounced back sharply last week and could continue to rise, although it […] Read more
