Grains 02 (Jan 14 - Dec 24)

Re: Grains 02 (Jan 14 - Dec 18)

Postby winston » Fri May 10, 2019 1:28 pm

Voracious pest threatens China's crops and could boost need for imports

by Jeff Daniels

A crop-eating pest first detected in China about five months ago is spreading rapidly and could hurt production of key crops critical to the populous nation's food supply, according to the U.S. Department of Agriculture.

Damage from the so-called fall armyworm, which gorges on corn, soybeans, cotton, rice, and dozens of other crops, could force China to import more corn, rice or soy to makeup for the shortfall.

There are currently tariffs of 25% assessed on some key U.S. crops entering China, including soybeans.

Before the U.S.-China trade war, China was importing about 60% of all U.S. soybean exports .

The problem comes at a time when Chinese authorities have been trying to boost soybean production to reduce the need for imports. China now ranks as the world's largest importer of soybeans.

China produces about 16 million tons of soybeans annually, but it imports more than 80 million tons each year of the commodity used commonly for animal feed and oils.

The insect is now found in at least six provinces in China and the risk of it spreading is seen as high.

China has seen at least 129 cases of the African swine fever since August. Rabobank estimates up to 200 million animals could be affected and production could decline by 30%.

As a result of the swine fever, China may need to increase the production of other proteins, including chicken.

Also, the Asian country may be forced to boost imports of pork, including from the U.S. despite stiff retaliatory tariffs imposed by Beijing.

China isn't the only country dealing with the armyworm. Knutsen, the entomologist, noted that voracious insect already is in other parts of the world, including North America and Africa.

Source: CNBC

https://finance.yahoo.com/news/voraciou ... 01471.html
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Commodities - General News 03 (Jul 14 - Dec 20)

Postby behappyalways » Sat Mar 28, 2020 2:32 pm

Coronavirus: Vietnam stockpiles rice as outbreak spreads and food security concerns grow
https://www.scmp.com/week-asia/economic ... s-and-food
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Commodities - General News 03 (Jul 14 - Dec 20)

Postby behappyalways » Wed Apr 01, 2020 6:02 pm

Coronavirus could cause global food shortages by April as export curbs worsen supply chain problems
https://www.youtube.com/watch?v=1rslyh7C6gs
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Re: Grains 02 (Jan 14 - Dec 20)

Postby winston » Tue Jun 23, 2020 7:26 am

Is China really speeding up purchases of US Agri products?

Last Friday, there was excitement over news that China is speeding up purchases of US agricultural products.

But data from the US Department of Agriculture shows that China only bought US$4.65 billion of agricultural products in the first four months this year, which was only 13 percent of the goal set in the trade agreement and nearly 40 percent less than the same period in 2017.

China is speeding up purchases only because it has failed to meet its obligations from January to April, so this should not be regarded as a sign of an improving Sino-US ties.

Source: The Standard
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Re: Grains 02 (Jan 14 - Dec 20)

Postby winston » Mon Jul 27, 2020 7:27 am

China is buying more soybeans from Brazil

China's soybean imports in June from top supplier Brazil soared to a record high, driven by growing demand for soybeans as China's pig herd recovers after deadly outbreaks of African swine fever.

The world's top soybean buyer brought in 10.51 million tonnes of the oilseed from the South American country in June, up 91 percent from 5.5 million tonnes in the previous year, customs data showed.

The June figures were also up 18.6 percent from May imports from Brazil at 8.86 million tonnes.

China brought in 267,553 tonnes of soybeans from the US in June, down 56.5 percent from 614,805 tonnes in the previous year. Imports fell 45.6 percent from 491,697 tonnes in May.

China has stepped up purchases of US farm produce including soybeans, and will need to ramp up purchases dramatically to fulfill its pledge under a phase 1 trade deal the two sides signed in January.

Source: Reuters
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Re: Grains 02 (Jan 14 - Dec 20)

Postby winston » Wed Aug 26, 2020 8:18 am

Farmers are selling Brazilian soy two years ahead in rare trade

by Tatiana Freitas

The majority of the sales are related to barter trading with farmers getting fertilisers and chemicals before planting in exchange for part of the harvest.

Domestic soybean prices in Brazil rose to a record as the real slumped against the dollar and oilseed demand picked up.

Farmers sold 43% of the 2020-21 crop through Aug 7, compared with a 16% historical level.


Source: Bloomberg

https://www.theedgemarkets.com/article/ ... rare-trade
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Re: Grains 02 (Jan 14 - Dec 20)

Postby winston » Wed Aug 26, 2020 4:20 pm

China Plans to Buy Record Amt of US Soybeans This Yr: Wire

China is going to purchase a record amount of soybeans from the U.S. this year as it seeks to ramp up purchases pledged under the phase-one trade deal, as Bloomberg learnt from people familiar with the matter.

The Chinese government will order 40 million tonnes of U.S. soybeans this year, around 25% more than the 2017 level, said the insiders.

Source: AAStocks Financial News
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Re: Grains 02 (Jan 14 - Dec 20)

Postby winston » Fri Sep 18, 2020 7:50 am

Soybeans at two-year highs on Chinese buying and bullish sentiment

(Sept 17): Soybean futures in Chicago traded at the highest level in more than two years amid fresh Chinese purchases and bullish investor positioning.

Corn futures were near the strongest since March.

The most active soybean contract posted the biggest daily gain since the end of June on Wednesday, and is up more than 17% since early August.

China has been making hefty purchases of US soybeans and corn for weeks, with another flash sale of 327,000 tons of soybeans reported overnight.

Money managers have boosted net bullish soybean bets to around two-year highs and corn wagers to the biggest in more than a year.

The market is anticipating that the US Department of Agriculture will lower its estimates for American stockpiles and potential yields in its next production report in October, Terry Reilly, senior commodity analyst at Futures International in Chicago, said.

South American crops are a cause for concern.

“Forecasters are expecting a little rain in some dry corn regions early next week,” said Tobin Gorey, strategist with Commonwealth Bank of Australia. But soil moisture gains are likely to be trivial andbrief, and the dry, warm pattern will probably return.

There’s no letup in the bullish sentiment in Chinese corn futures either. The most active contract in Dalian reached fresh five-year highs on continuing fears over a domestic shortage.

The strength of the yuan is also making US purchases more attractive for Chinese importers.

Source: Bloomberg

https://www.theedgemarkets.com/article/ ... -sentiment
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Re: Grains 02 (Jan 14 - Dec 20)

Postby winston » Sun Nov 15, 2020 8:32 am

World Food programme chief warns of famines ‘of biblical proportions’ in 2021

David Beasley warned the UN Security Council in April that the world was on the brink of a hunger pandemic

Beasley said the UN money that was available in 2020 is not going to be available in 2021
Associated Press

Beasley said WFP needs $15 billion next year – $5 billion just to avert famine and $10 billion to carry out the agency’s global programmes including for malnourished children and school lunches which are often the only meal youngsters get.

In April, Beasley said 135 million people faced “crisis levels of hunger or worse.” A WFP analysis then showed that Covid-19 could push an additional 130 million people “to the brink of starvation by the end of 2020.”

Yemen, South Sudan, northeastern Nigeria and Burkina Faso have some areas that “have reached a critical hunger situation following years of conflict or other shocks”.

Other countries requiring “urgent attention” are Afghanistan, Cameroon, Central African Republic, Congo, Ethiopia, Haiti, Lebanon, Mali, Mozambique, Niger, Sierra Leone, Somali, Sudan, Syria, Venezuela, Zimbabwe, they said.

Source: Associated Press

https://www.scmp.com/news/world/africa/ ... roportions
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Commodities - General News 03 (Jul 14 - Dec 20)

Postby behappyalways » Thu Mar 04, 2021 6:16 pm

World food price index rises in February for ninth month running: FAO
https://www.reuters.com/article/ousivMolt/idUSKBN2AW0W4
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