Saudi Arabia Archives - Manitoba Co-operator

NYMEX August 2023 West Texas Intermediate crude oil, with August 2023 Brent crude oil (black line). (Barchart)

Extent of Saudi oil production cut unclear

Reported tensions within OPEC limit price gains

By GFM Network News, Glen Hallick - MarketsFarm June 6, 2023

MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably

File photo of an irrigated alfalfa stand in Saudi Arabia. (JohnnyGreig/E+/Getty Images)

Crops, Markets

Saudi Arabia highly dependent on grain imports

Alfalfa more profitable for domestic growers

By GFM Network News, Marketsfarm April 4, 2023

MarketsFarm — While Saudi Arabia is a giant among the oil-producing countries of the world, the desert kingdom does produce small amounts of grain. With a population that’s about one million less than Canada’s, Saudi Arabia is extremely dependent on importing its grain from overseas. The U.S. Department of Agriculture’s (USDA) attaché in Riyadh explained

Markets, News

Brazil’s BRF, Saudi fund set up poultry joint venture

By Reuters January 24, 2022

Brazilian chicken and pork processor BRF SA signed a memorandum of understanding with Saudi Arabia’s sovereign fund to create a joint venture to make poultry products in the Middle Eastern country, it said Jan. 13. BRF said in a securities filing it will hold a 70 per cent stake in the joint venture, while Saudi

Markets, News

Saudi Arabia bans beef imports from five Brazilian meat packers

By Reuters September 24, 2021

Saudi Arabia has suspended beef imports from five Brazilian meat packers after the South American country detected two atypical cases of mad cow disease earlier this month, Valor Economico newspaper reported, citing Brazil’s Agriculture Ministry. According to Valor, the five unnamed meat packers are located in the state of Minas Gerais, where one of the

Grain storage at a Russian seaport. (Pridannikov/iStock/Getty Images)

Crops, Markets

Tax, competition expected to prolong Russian wheat export season

Tax complicates forward sales for exporters

By GFM Network News, Polina Devitt August 23, 2021

Moscow | Reuters — Exports of Russian wheat will stretch well into the second half of the season as Moscow’s export tax and tough competition with Ukraine and Romania slow sales until the end of 2021, traders and analysts said. Russia, the world’s largest exporter of wheat, generally sells most of its crop during the

Cereals, Crops, Markets

Saudi Arabia completes first phase of flour mill privatization

By GFM Network News, Maha El Dahan July 8, 2020

Dubai/London | Reuters — Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatization, according to a statement by the state grain buyer and privatization centre. The long-awaited flour mills sale was one of the first privatizations the kingdom planned as part of a wide-reaching overhaul of its

Crops, Markets

USDA’s supply and demand report largely stands pat

By GFM Network News, Glen Hallick - MarketsFarm March 11, 2020

MarketsFarm — Any changes in the latest monthly supply and demand report from the U.S. Department of Agriculture (USDA) on Tuesday were few and far in between when it came to corn, wheat and soybeans; what the markets largely expected. However, there were some small revisions to the department’s global projections. That meant USDA’s March

Crops, Markets

Oil price war spells bad news for Canada, global market

By GFM Network News, Glen Hallick - MarketsFarm March 9, 2020

MarketsFarm — Benchmark crude oil prices plummeted 30 per cent on Monday, after a price war erupted between Saudi Arabia and Russia. While that will mean lower prices at the pumps for consumers, the price war will not bode well for the Canadian economy, according to a pair of industry experts. “We already had the

Crops, Markets, Other

Canada’s fuel prices to rise after attack in Saudi Arabia

By GFM Network News September 16, 2019

MarketsFarm — Following an attack on two major oil facilities in Saudi Arabia, consumers can expect a small rise in fuel prices in the days to come. The attacks on Saturday hindered the production of about 5.7 million barrels of oil per day. On Monday morning, crude oil prices were up by about 10 per

CBOT December 2019 corn with 20-, 50- and 100-day moving averages. (Barchart)

Crops, Markets

U.S. grains: Soy, corn close higher

By GFM Network News August 8, 2019

Chicago | Reuters — U.S. soybean and corn futures settled up on Thursday, as traders squared their positions ahead of a U.S. government report next week expected to clarify how many acres were planted of the two crops. Dealers said a rebound in energy prices provided some support, although there remained ongoing concerns in the

Daily Network News

U.S. grains: Soy futures hit June 2024 high as China ramps up buying

U.S. livestock: Cattle futures rebound after tariff reduction news

Canadian food, agriculture coalition to underscore CUSMA importance in Washington

Tag Archives Saudi Arabia

Extent of Saudi oil production cut unclear

Saudi Arabia highly dependent on grain imports

Brazil’s BRF, Saudi fund set up poultry joint venture

Saudi Arabia bans beef imports from five Brazilian meat packers

Tax, competition expected to prolong Russian wheat export season

Saudi Arabia completes first phase of flour mill privatization

USDA’s supply and demand report largely stands pat

Oil price war spells bad news for Canada, global market

Canada’s fuel prices to rise after attack in Saudi Arabia

U.S. grains: Soy, corn close higher

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