GFM Network News


CBOT weekly outlook: Coronavirus, other factors grip markets

MarketsFarm — As fears of a worldwide pandemic of the COVID-19 coronavirus increase, markets, including the Chicago Board of Trade (CBOT), are seen to have been taking a beating. “The perception is, it’s going to get worse, that trade is going to struggle,” said Steve Georgy, president of Allendale Inc. at Fort McHenry, Ill., analogizing […] Read more

Drones to be tested against Africa’s locust swarms

U.N.'s FAO testing drones to detect, spray pests

Nairobi | Thomson Reuters Foundation — The United Nations is to test drones equipped with mapping sensors and atomizers to spray pesticides in parts of east Africa battling an invasion of desert locusts that are ravaging crops and exacerbating a hunger crisis. Hundreds of millions of the voracious insects have swept across Ethiopia, Somalia and […] Read more


U.S. farmers cheered by apparent trade truce

Chicago | Reuters — U.S. farmers cheered the Trump administration’s announcement of a potentially dramatic increase in U.S. agricultural sales to China on Friday but warned they needed to see a follow-through of actual purchases. Treasury Secretary Steven Mnuchin said the agricultural purchases could scale up to $40 billion-$50 billion annually as part of a […] Read more

China’s July grain imports plunge as tariffs on U.S. supplies bite

Beijing | Reuters – China’s grain imports plunged in July after Beijing imposed hefty tariffs on shipments from the United States as part of its trade conflict and as rising international prices curbed buying, customs data showed on Thursday. China brought in 220,000 tonnes of sorghum in July, down 62.5 percent from 588,364 tonnes a year ago, data from […] Read more



U.S. grains: Wheat futures jump

Chicago | Reuters — U.S. wheat futures rallied on Friday, with the benchmark Chicago Board of Trade soft red winter wheat contract surging 4.1 per cent on forecasts for dry conditions that could further stress an already damaged crop. The weather outlook also threatened to slow planting progress in the U.S. Midwest, which was supportive […] Read more