CNS Canada — The following is a glance at the news moving markets globally. BRAZIL’S ECONOMY EXPECTED TO CONTRACT ONCE MORE — Brazil’s economy is expected to contract three per cent this year, according to the country’s Central Bank, which surpassed analyst’s expectations of 2.97 per cent. The newest projections are the most negative the […] Read more
Global markets: Brazilian and South African economies
U.S. grains: Soy futures fall as harvest pace picks up
Chicago | Reuters –– U.S. corn and soybean futures fell on Tuesday, under pressure from the expanding harvest around the U.S. Midwest as well as some profit-taking after rallying on Monday, traders said. Wheat futures also fell, but losses were kept in check as bargain buyers stepped into the market when prices hit their session […] Read more
Exporters fear Brazil agents’ strike could hurt corn exports
Sao Paulo | Reuters — A strike by Brazilian federal agricultural agents responsible for approving certificates required for shipments could affect Brazil’s corn exports, the director of the cereal exporters association Anec Sergio Mendes said Friday. Mendes said the strike that started on Thursday was “the worst thing that could happen” to grain exports, though […] Read more
JBS doesn’t see Brazil beef exports to U.S. before 2016
Sao Paulo | Reuters — Meatpacker JBS expects fresh beef exports from Brazil to the U.S. to begin no earlier than 2016, later than the Brazilian government predicted, CEO Wesley Batista said Friday. An agreement between the two countries was signed in June, when Brazilian President Dilma Rousseff visited Washington, but Batista said it would […] Read more
Brazil looking to open Canadian, Saudi Arabian fresh beef markets
Brasilia/Reuters – Brazil is working on a deal to open the Canadian market for fresh beef in the second half of 2015 and is in the final phase of opening the Saudi Arabian market, the agriculture ministry’s secretary of international relations said on Monday. Brazil also expects a final deal to export beef to Japan […] Read more
USDA takes first step to import fresh beef from Brazil, Argentina
Chicago | Reuters — The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS) is amending its regulations to allow fresh beef into the U.S. from Brazil and Argentina under specific conditions that mitigate risk of foot-and-mouth disease (FMD), the agency said Monday. “This is the first step of a process for these […] Read more
Brazil’s grain ports seen facing record volumes
Sao Paulo | Reuters — Brazil’s grain ports will endeavour to move the last of a record soybean crop just as a huge corn harvest starts competing for terminal space, testing the country’s export capacity, an analyst at local consultancy Agroconsult said. Brazil is exporting much of a record 96 million-tonne soybean crop and, starting […] Read more
El Nino seen bringing drought to Brazil’s north, heavy rains to south
Sao Paulo | Reuters –– Brazil will likely experience a moderate El Nino by the end of the year, bringing steady rain to the country’s main grain-producing regions and sustained drought in the arid north, the national meteorological institute, Inmet, said. Inmet meteorologist Fabricio Daniel dos Santos Silva said six consecutive quarters of warming sea […] Read more
Meatpacker JBS closes plant, lays off 650 workers in Brazil
Sao Paulo | Reuters — The world’s largest meatpacker JBS SA laid off 650 workers and closed a plant in Brazil’s Mato Grosso state due to the lack of cattle ready for slaughter, a state labour official and the company said on Wednesday. JBS CEO Wesley Batista said last week that the first three months […] Read more
China lifts three-year embargo on Brazil beef imports
Brasilia | Reuters — China has ended an embargo on Brazilian beef imports, Brazil’s agriculture ministry said on Tuesday, lifting a three-year old ban and opening the door to half a billion dollars of new sales. Eight Brazilian beef processing plants and one poultry plant were approved to ship to China, the ministry said in […] Read more
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