Beijing/Singapore | Reuters –– China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special treatment for Hong Kong to punish Beijing. Large-volume state purchases of U.S. corn and cotton have also been put on hold, […] Read more
China tells state firms to halt purchases of major U.S. farm products
Purchases of soybeans, pork, corn, cotton on hold
USDA sets coronavirus aid payments for corn, soy, wheat
Chicago | Reuters — U.S. farmers that grow crops including corn and soybeans will receive coronavirus assistance payments based on either half of their 2019 production or the supplies they had on hand as of Jan. 15, the government said on Tuesday. The coronavirus aid is the latest in a round of government payments that […] Read more
U.S. corn production expected way up in USDA’s May WASDE
MarketsFarm — There will be sharp increases in the United States’ 2020-21 corn production — and especially in ending stocks, according to the latest monthly supply and demand report from the U.S. Department of Agriculture (USDA). The department issued its latest world agricultural supply and demand estimates (WASDE) on Tuesday. U.S. soybean planted acres and […] Read more
Global grain production to exceed 2.2 billion tonnes, IGC predicts
MarketsFarm — The International Grain Council (IGC) has revised its latest monthly forecast of global grain production down slightly. The IGC projected global production in 2020-21 to hit 2.218 billion tonnes its April 30 report, for a drop of five million tonnes from its March estimate. The reduction was due to the dry conditions in […] Read more
ICE weekly outlook: Demand keeps canola well supported
MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, holding above major support as end-users showed solid demand. “The demand side of the formula is still quite good,” said Errol Anderson, of Pro Market Communications in Calgary. Domestic crushers were showing the best demand, he said, but added that exporters were […] Read more
February’s oilseed crush lower than January’s
Canola, soybean crush down on month, StatsCan reports
MarketsFarm — As has often been the case, February 2020’s oilseed crush was lower than January’s, according to Statistics Canada’s latest report released Thursday. More than 812,600 tonnes of canola were crushed in February, down 4.9 per cent from January. Also, there were 144,260 tonnes of soybeans crushed in February, for a drop of 10.7 […] Read more
USDA raises corn, soy, wheat supply outlook
Ending stocks expected up on slowing export demand
Chicago | Reuters — The U.S. Agriculture Department raised its outlook for domestic supplies of corn on Thursday on expectations for reduced usage by ethanol producers, as demand for the alternative fuel has been cratering due to the spread of the COVID-19 coronavirus. The government also bumped up its wheat and soybean ending stocks view […] Read more
U.S. projects wheat acres at record lows, increases for soy, corn
Grain stocks as of March 1 down on year
MarketsFarm — As with last year, total wheat acres in the United States are projected to remain at all-time lows, according to the U.S. Department of Agriculture (USDA). The department issued its prospective plantings estimates Tuesday. MarketsFarm director of markets and weather Bruce Burnett called USDA’s wheat and soybean estimates positive, while he said its […] Read more
U.S. sees progress on China trade deal’s ag provisions
China makes first U.S. hard red wheat buy since 2017
Washington | Reuters — The U.S. and China have made progress in implementing the agriculture-related provisions of their Phase One trade deal that took effect on Feb. 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative said on Tuesday. In a joint statement, they listed a number of steps taken that should help […] Read more
Grain price slump attracts bargain-hunting by importers
Hamburg | Reuters — The collapse in grain prices caused by concern about the global impact of the COVID-19 coronavirus has generated some bargain-buying by importing countries, traders said on Tuesday. But they said the extent was still limited and there were no signs importers were making especially large purchases to expand stocks. “We are […] Read more