Rio de Janeiro/Brasilia | Reuters — New Brazilian President Jair Bolsonaro issued an executive order on Wednesday making the agriculture ministry responsible for deciding on lands claimed by indigenous peoples, in a victory for agribusiness that will likely enrage environmentalists. The temporary decree, which will expire unless it is ratified within 120 days by Congress, […] Read more
Bolsonaro gives Brazil farm ministry powers on indigenous land
U.S. grains: Soy, corn, wheat near one-month lows
Chicago | Reuters — U.S. corn, soybean and wheat futures approached one-month lows on Wednesday on worries over export demand and increasing competition for global sales. Traders were disappointed that there were no signs of additional sales of U.S. soybeans to China, the world’s top importer of the oilseed, or of corn. China bought U.S. […] Read more
U.S. grains: Soy down as supplies outweigh China demand
Chicago | Reuters — U.S. soybean futures fell to three-week lows on Thursday as improving crop prospects in South America overshadowed renewed Chinese demand for U.S. shipments. Corn futures also fell to the lowest in three weeks on concerns about demand from ethanol producers and as forecasts for rain in dry areas of Brazil’s corn […] Read more
U.S. grains: Soybeans dip as Huawei arrest clouds trade detente
Chicago | Reuters — U.S. soybean futures fell for the first time in five sessions on Thursday as the arrest of a senior executive at China’s Huawei Technologies Co. stoked concerns about a U.S.-China trade truce that has yet to produce a resumption of U.S. soybean sales to China. Corn followed soybeans lower, although declines […] Read more
U.S. grains: Soybeans strike post-harvest highs on trade truce
Chicago | Reuters — U.S. soybean futures rallied to their highest since at least August on Monday, joining a broad rally in commodity and equity prices after Washington and Beijing sealed a truce in a trade war that has halted nearly all U.S. soy shipments to the world’s top importer. Soybean prices, however, set back […] Read more
CBOT weekly outlook: Volatile markets await G20 meeting
CNS Canada — Chicago soybean and corn markets are expected to remain volatile over the next few days, ahead of the G20 summit in Argentina, said one commodities expert. That volatility is fueled by a much-talked-about meeting between U.S. President Donald Trump and Chinese President Xi Jinping scheduled for Saturday. “What is going to be […] Read more
U.S. grains: Soy futures up on hopes of progress in U.S.-China dispute
Chicago | Reuters –– U.S. soybean futures turned higher on Wednesday on optimism that Washington and Beijing will make progress at the upcoming G20 leaders summit toward resolving the trade dispute that has disrupted U.S. exports of the oilseed. Wheat futures slipped, while corn futures ended nearly unchanged after touching their lowest price since Oct. […] Read more
JBS posts narrower-than-expected quarterly loss
Sao Paulo | Reuters — Brazil-based food company JBS SA on Tuesday posted a narrower than expected quarterly loss on the back of a strong performance by its Seara processed foods and Brazil beef divisions, and resilience in certain of its U.S. operations. Seara booked net sales of 4.9 billion reais (C$1.72 billion) last quarter, […] Read more
JBS shareholder Batista arrested in food sector corruption investigation
Rio de Janeiro | Reuters – Brazilian police arrested one of the controlling shareholders of meatpacker JBS SA on Friday in connection with an ongoing police inquiry into illegal campaign contributions while a local news outlet reported two former agriculture ministers were also arrested. A member of JBS’ controlling family Joesley Batista is expected only to […] Read more
Brazil in talks to boost soymeal exports to China
Sao Paulo | Reuters – Brazil’s soy processing executives are in talks with Chinese government officials over ways to increase soymeal exports to the Asian nation, industry group Abiove said on Monday. China already buys around 80 percent of Brazilian soybean exports. According to official data, Brazil exported 55 million tonnes of soybeans to China […] Read more
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