Reuters — China’s state-owned grains trader COFCO said on Thursday a new joint venture it has set up with state stockpiler Sinograin to manage the country’s huge grain reserves will officially begin operations next month. The China Enterprise United Grain Reserve Co. Ltd. was established in September, according to the COFCO statement on its public […] Read more
China to launch grain reserves company in 2023
China to release potash reserves
Move said to be intended to ensure supply, stabilize prices
Beijing | Reuters –– China’s state planner on Wednesday said the government would take measures to keep supply and prices of fertilizers stable, including releasing potash fertilizer reserves and ensuring imports reach farmers as it looks to bolster food security. The National Development and Reform Commission (NDRC) said it was one of 13 government departments […] Read more
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
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
Speculation shrouds grain demand, rejections from Egypt
CNS Canada — Egypt, the world’s biggest buyer of wheat, rejected three cargoes of the grain last week — its first rejections since it overhauled its inspection system and relaxed its import policy last fall. Three cargoes of wheat — two Russian, one Argentinian — purchased by Egyptian grain buyer GASC were rejected last week […] Read more
Cyber-Savvy Farmer
