Reuters — State-owned China National Chemical Corp. has raised its offer to buy Syngenta by about $2 billion, to US$44 billion, proposing a two-stage takeover of the agrochemical company, Bloomberg reported, citing sources. ChemChina has offered 470 Swiss francs (C$661) per share to buy 70 per cent of Syngenta with an option to acquire the […] Read more
ChemChina to sweeten bid for Syngenta to $44B
U.S. grains: Soybeans rally on Brazil dryness, short-covering
Chicago | Reuters — U.S. soybean futures climbed to a near two-week high on Friday on technical buying and short-covering as well as concerns that dry weather in parts of Brazil may drag down yields in the world’s top exporter of the oilseed. Wheat and corn pared steep early gains and closed modestly higher. Both […] Read more
Devalued Argentine peso seen spurring grain exports
Buenos Aires | Reuters — The currency devaluation set to kick off in Argentina on Thursday is expected to pump millions of tonnes of pent-up grains supply into the international market at a time when the world is already seeing record stockpiles. For the first time since 2011, Argentines have full access to U.S. dollars […] Read more
U.S. grains: Brazil dryness sparks soy short-covering
Chicago | Reuters — U.S. soybean futures rebounded from a 3-1/2-week low on Thursday and closed higher for the first time in three sessions on short-covering sparked by concerns that dry weather in Brazil may clip soy production. Corn and wheat also clawed back earlier losses tied to Argentina’s export-friendly move to let the peso […] Read more
CBOT weekly outlook: Corn, soy rangebound ahead of holidays
CNS Canada — Corn and soybeans at the Chicago Board of Trade are rangebound ahead of the holidays, according to one analyst. On Wednesday, the U.S. Federal Reserve raised interest rates by 0.25 per cent, the first increase since 2006, which pressured both corn and soybeans. But outside of that story, corn and soybean markets […] Read more
U.S. grains: Wheat, corn, soy fall on global supply pressure
Chicago | Reuters –– Chicago Board of Trade wheat, corn and soybeans fell on Wednesday as traders grappled with huge world stocks of all three commodities. Grain and oilseed prices edged higher during the overnight session but traders quickly locked in profits from the mild spikes amid the bearish global balance sheet. Wheat futures fell […] Read more
Russia aiming for steady grain crop in 2016
Moscow | Reuters –– Russia, one of the world’s largest wheat exporters, is aiming for an unchanged grain harvest in 2016 compared with the current year, the agriculture ministry said Tuesday. If the weather remains favourable during the winter and spring, Russia, a major wheat supplier to Turkey, Egypt and Iran, will harvest a large […] Read more
U.S. grains: Soybeans fall on export pressure
Chicago | Reuters — Chicago Board of Trade soybean futures sank on Tuesday on expectations that U.S. exports will dry up due to increasing competition from South American countries, traders said. Corn futures also weakened, with ample global supplies and technical pressure triggering a round of profit-taking after they rose on Monday. Wheat edged higher […] Read more
COFCO in talks for full ownership of Noble agribusiness
Reuters — China’s food giant COFCO is in advanced talks to take full ownership of Noble Group’s agribusiness, three sources said, a move which would cement its newfound strength in global agriculture markets and help bolster Noble’s balance sheet. The sources said COFCO was in talks to buy the remaining 49 per cent of Singapore-listed […] Read more
Argentina’s Macri ditches wheat, corn, beef export taxes
Buenos Aires | Reuters –– Argentine President Mauricio Macri said he would sign a decree on Monday eliminating corn and wheat export taxes as part of his plan to revitalize the country’s massive farm sector after years of antagonism with the government. The decree will also cut the export tax on soybeans, the country’s main […] Read more
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