GFM Network News


A general view of damage at the site of Tuesday’s blast in Beirut’s port area on Aug. 5, 2020. (Photo: Reuters/Mohamed Azakir)

After blast, Lebanon has less than a month’s grain reserves

Beirut port silos had capacity for 120,000 tonnes; about 15,000 tonnes were stored at time of blast

Beirut/Dubai | Reuters — Lebanon’s main grain silo at Beirut port was destroyed in a blast, leaving the nation with less than a month’s reserves of the grain but enough flour to avoid a crisis, the economy minister said on Wednesday. Raoul Nehme told Reuters a day after Tuesday’s devastating explosion that Lebanon needed reserves […] Read more

CBOT July 2020 soybeans with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Export hopes push soy, corn, wheat futures higher

Chicago | Reuters — U.S. soybean, corn and wheat futures rose on Thursday as recent declines spurred demand for imports of all three commodities, traders said. Bargain-buying and short-covering contributed to the bullish tone following a sharp sell-off across the commodities market as the coronavirus pandemic roiled demand. “None of the major commodities have a […] Read more