Singapore | Reuters — Asian flour millers are looking at buying Canadian spring wheat for shipment early next year as supplies from drought-hit Australia are likely to remain slow, traders said. Canadian western red spring wheat is being offered at around $345 a tonne, including cost and freight, nearly unchanged from last week, while Australia
Asia’s mills eye Canada’s wheat as Australian supply slows
Australian farmers hold back wheat sales as dryness curbs yields
Reuters — Australian farmers are holding back wheat crop sales as dryness in parts of the country’s eastern grain belt cuts yields, raising the likelihood for a boost to global prices that have dropped 13 per cent this year. Farmers in the world’s fourth biggest wheat exporter have sold only about a quarter of this
China’s Cofco to pay $1.5B for stake in Noble agribusiness
Singapore/Hong Kong | Reuters — Cofco Corp. has agreed to pay US$1.5 billion for a majority stake in Noble Group’s agribusiness, its second acquisition in less than two months, as China’s largest grain trader seeks to strengthen its market position worldwide. The two companies plan to form a joint venture, in which Cofco will own
Frost, rains hit Australia’s wheat crop, drag on quality
Unseasonal rains in Western Australia and frost on the country’s east coast have hit wheat crops in the world’s No. 2 exporter of the grain, dragging down quality and reducing harvests. A decline in supply of high-protein wheat from Australia could force major buyers such as Indonesia and China to seek more volumes from the
Dryness threatens Australia wheat supply as seeding kicks off
A lack of soil moisture in Australia’s eastern grain belt could hit wheat production in the world’s second largest exporter as farmers start seeding the 2013-14 crop. Concerns over Australia’s wheat output come as the U.S. crop faces winter storms after being planted in dry soil last year, piling pressure on global grain supplies and
China’s corn revolution promises great leap forward in yields
Reuters / China’s farmers are using higher-yielding seeds and embracing modern technology in a shift that makes it less likely China will be a long-term major corn importer. Record Chinese imports of 5.5 million tonnes in 2011-12 helped drive up benchmark Chicago corn prices to $8 a bushel earlier this year — more than double
Australia’s early wheat harvest shows lower protein
The early wheat harvest in Australia, the world’s second largest exporter, is showing lower protein scales and poor yields, analysts and traders said, heightening concerns over global grain supplies as shipments from top exporters dwindle. Farmers are finding lower-than-expected protein scales in New South Wales and Queensland, the states responsible for producing top quality hard
China faces tight pork supply on disease, high costs
China is likely to face tighter pork supply in the second half of the year as a disease among piglets reduces the number of animals for slaughter and higher feed grain costs force small farmers in the world’s most populous nation to curb production. A squeeze in China’s pork supply during the high-consumption winter months
China set to buy more U.S. corn this year
(Reuters) Strong domestic prices and low reserves are likely to force China to import more U.S. corn this year, squeezing tight world supplies, analysts and industry officials said March 14. China’s corn imports are expected to more than double in the current 2011-12 crop year to four million tonnes from 1.5 million a year earlier,
China eyes even more U.S. soy
China, the world’s biggest food shopper, is likely to buy more U.S. soybeans this quarter, as a withering drought is expected to cut the South American harvest, pushing soy prices up to fresh highs. Benchmark Chicago soy has risen for three weeks on the relentless Southern Hemisphere summer, and analysts say prices could head higher,
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