London | Reuters — A cargo of U.S. soybeans shipped to China has become the first fully-fledged agricultural trade conducted using blockchain, participants said Monday. Louis Dreyfus, Shandong Bohi Industry Co., ING, Societe Generale and ABN Amro took part in the trade where the sales contract, letter of credit and certificates were digitalized on the […] Read more
U.S. soy cargo to China traded using blockchain
Cargill to expand western Manitoba elevator
Agrifood firm Cargill expects to provide more marketing opportunities for western Manitoba growers — particularly of soybeans — with a major elevator expansion. The U.S. company’s Winnipeg-based Canadian arm on Thursday announced it will put up $15 million to add 9,000 tonnes of storage capacity to its 13,500-tonne capacity elevator at Oakner, Man., about 70 […] Read more
Brazil’s 2017/18 soybean crop seen second-biggest in history
Sao Paulo | Reuters – Benefited by good weather, Brazil’s 2017/18 soybean crop, which farmers are now beginning to harvest, is expected to surpass 110 million tonnes, the second-largest in history, according to the average of 11 forecasts in a Reuters poll on Friday. Farmers here are likely to collect 110.19 million tonnes of the […] Read more
Argentina begins phasing in cuts to soybean export tax
Buenos Aires | Reuters – Argentina has cut its soybean export tax to 29.5 percent from a previous 30 percent, the first step in a plan to gradually reduce the levy to 18 percent over two years, the agriculture ministry said in a statement on Tuesday. The plan will see the tax cut by one […] Read more
Brazil: Farming on a larger scale
It’s hard to distill great experiences. And, arguably, I don’t want to. I want you, the reader, along for every second of what made my trip to Brazil amazing. At the planning phase, there were so many disparate parts. I felt it the trip going to fall through — part of it seemed too good[...]
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Wheat storage a winner, says analyst
Winnipeg | CNS – As yields grow throughout North America and the physical size of the crop becomes larger, farmers who invest in storage bins now, stand to reap the rewards later. “Guys with space are winning,” said Kurt Ahrens, founder of Grainbot in Omaha, Nebraska. Speaking at the Grain World Conference in Winnipeg, he[...]
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Chinese protein preference becoming big obstacle for canola
Winnipeg | CNS Canada — As China’s consumption of higher-protein foods continues to grow, so too does its selectiveness for which oilseeds it will pursue on the open market. So far, it’s a race canola does not seem to be winning. “The big demand factor in China is protein, rather than vegetable oil,” said Felix[...]
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ICE weekly outlook: Canola looks to soyoil wildcard
CNS Canada –– ICE Futures Canada canola bounced around within a rather wide range over the course of the week ended Wednesday, but could head higher if it gets help from U.S. soyoil. “The wildcard here is the (soy)bean oil market,” said Ken Ball of PI Financial in Winnipeg. While Chicago Board of Trade soyoil[...]
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USDA boosts corn harvest view above expectations on record yields
Washington | Reuters – U.S. corn production will be higher than expected as harvest yields came in at record levels despite some concerns about the crop throughout the growing season, government data showed on Thursday. The U.S. Agriculture Department in its monthly supply and demand report said the bumper corn harvest will raise stockpiles of[...]
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Brazil cuts into U.S. soybean market share in China
Reuters – Brazil is expected to win a larger share of China’s soybean imports in coming months, hitting U.S. exporters during the peak marketing season for their most valuable farm product as the world grapples with a fifth consecutive bumper crop. China is expected to buy about five million tonnes of soybeans from Brazil for[...]
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Cyber-Savvy Farmer
