Global trading house Cargill said on Tuesday it plans to cut around five per cent of its staff, or about 8,000 jobs after revenue slumped in its most recent fiscal year as crop prices hit multi-year lows.
Commodities trading giant Cargill plans to cut around 8,000 jobs
Flour millers face supply crunch as wheat farmers tighten grip on stocks
Wheat growers in several exporting countries are reluctant to sell their crops with prices near four-year lows, traders, farmers and millers say, leaving flour makers with dwindling supplies and vulnerable to any potential upswing in prices.
Harsh weather curbs global wheat output, buoys prices
World wheat inventories have fallen from record highs five years ago, U.S. data shows, as poor weather hurt output and Russia's 2022 invasion of Ukraine temporarily spiked grain prices.
From Black Sea to US Midwest, extreme weather threatens crop output
Hot, dry weather forecast for Russia, Ukraine in coming months; relief seen for China's corn, soybean crops hit by heatwave
Forecast dryness in the Black Sea region's breadbasket is likely to stunt sunflower and corn yields, while heavy rain in the United States after near-record temperatures threaten to take a toll on crops, hitting world supplies and pushing prices higher.
Rival pork exporters could benefit from China-EU trade tensions
Pork suppliers from South America and the U.S. could gain market share in China if Beijing restricts imports from the European Union in response to escalating trade tensions, traders and analysts said.
U.S. grains: Wheat and corn up over 20 per cent in 2021, soybeans edge to third year of gains
Chicago/Singapore | Reuters – U.S. corn, wheat and soybean futures were set to post yearly gains, with strong demand and supply constraints in some key production areas of the globe underpinning the markets throughout 2021. Corn futures, which have jumped 23.4 percent this year, have paced the grain markets, supported by increased feed usage by livestock as […] Read more
How COVID-19 is upending global food supply chains
Cows fed strawberries in India, watermelons rot in U.S., okra not reaching Canada
Satara/Singapore/London | Reuters — In the fertile Satara district in western India, farmers are putting their cattle on an unorthodox diet: Some feed iceberg lettuce to buffalo. Others feed strawberries to cows. It’s not a treat. They can either feed their crops to animals or let them spoil. And other farmers are doing just that […] Read more
Panic buying, lockdowns may drive world food inflation
World has ample grain and oilseed supplies, FAO and analysts say
Singapore | Reuters — Lockdowns and panic food buying due to the coronavirus pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist at FAO and agricultural analysts said. The world’s richest nations poured unprecedented aid into the global economy as […] Read more
U.S.-China trade fears halt soybean imports
Singapore/Beijing | Reuters — China’s purchases of U.S. soybeans have come to a grinding halt, trade and industry sources say, as fears of further action by Beijing to curb imports of U.S. crops following last week’s anti-dumping move on sorghum rattles the agriculture industry. Buyers from China, which takes 60 per cent of soybeans traded […] Read more
Brazil cuts into U.S. soybean market share in China
Reuters – Brazil is expected to win a larger share of China’s soybean imports in coming months, hitting U.S. exporters during the peak marketing season for their most valuable farm product as the world grapples with a fifth consecutive bumper crop. China is expected to buy about five million tonnes of soybeans from Brazil for […] Read more
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