Saudi Arabia to increase wheat stocks

Saudi Arabia expects to import up to 800,000 tonnes of milling wheat in the year to September 2009 as it seeks to build up stocks while scaling back domestic wheat farming, a grains authority official told Reuters. Saudi Arabia’s state-controlled Grain Silos and Flour Mills Organization (GSFMO) plans to issue a tender in April or



Biofuel output seen up on lower feedstock costs

Global biodiesel output is likely to climb 27 per cent to 14 million tonnes in the 2008-09 oil year as producers capitalize on weak raw material prices and absorb excess inventories, a leading industry analyst said Dec. 3. Alternative energy fuels would be the only source of additional demand growth for vegetable oils, as demand

Commodity traders grow weary of market swings

“Everybody got run over by the bus going east. They got up only to be run over by the bus going west.” – CME TRADER GARY LARK From his desk alongside the Chicago Mercantile Exchange (CME) trading floor, Jim Brooks is seeing more ill-tempered cattle and hog traders nowadays as they cope with fast-moving markets


Seed shortage hits Afghan wheat farmers

“…we’re promoting the use of certified seed, which means we’re only promoting about 12,000 tonnes, which is all there is available in the country.” – LOREN STODDARD, USAID Thousands of tonnes of wheat seed are being distributed across Afghanistan, but this will meet only a quarter of demand so Afghans will rely heavily on imports

Commodities lose diversification edge with crisis

“There is nowhere to hide.” – BRIAN HICKS Using commodities to hedge potential losses in stock markets has not worked lately, and the tighter link among assets these days means diversification benefits may not be as great as before. Hedge funds, pension funds, mutual funds and wealthy individuals who invested in commodities on the theory


Bird flu spreads in Indian state

A fresh outbreak of bird flu in poultry was detected in the northeastern Indian state of Assam on Dec. 3 and authorities prepared to start culling thousands of chickens, a senior official said. “Yes, bird flu has spread to new areas; we are getting ready to start culling in those areas shortly,” Ashim Kumar Kakoty,

Electronic trading the pits, traders say

Electronic trading of grains is now dominating markets that not long ago were the last bastion of arm-waving, shouting pit brokers, but the easy access to prices and speed has come at a price – wild market swings and lack of trust that is driving away users. The focus of the controversy on the Chicago


USDA chief predicts lower inputs by spring

U. S. farmers have not seen their input costs decline significantly despite the recent drop in energy prices, Agriculture Secretary Ed Schafer said Nov. 18, but he remained confident conditions would improve before growers plant their 2009 crops. Prices for corn, soybeans, wheat and other crops have dropped after setting record highs earlier this year.

Trouble for truffles

Nose to the ground, truffle dog Nice plows through fallen leaves in a Tuscan forest on a crisp November morning. But after hours of fruitless searching, Nice and her owner Massimo give up in yet another sign of trouble for the truffle industry in Italy, a major growing region in Europe. Output of white truffles,