Agriculture

U.S. farmers are expected to achieve a record soybean crop in the 2024/25 season, driven by lower production costs compared to corn, adverse weather conditions, and a quick winter wheat harvest. The U.S. Department of Agriculture (USDA) has raised its soybean production forecast to a record 4.589 billion bushels, up from 4.469 billion previously estimated. […]

The International Grains Council (IGC) has revised its forecast for global wheat production in the 2024/25 season, primarily due to a significant downgrade in France’s wheat output, which has experienced one of its worst harvests in decades. In its latest monthly update, the IGC projected global wheat production at 799 million metric tons, down from […]

The U.S. bird flu outbreak affecting dairy cattle is believed to be significantly larger than official reports indicate, primarily due to farmers’ hesitance to test their animals. This reluctance stems from fears of economic repercussions associated with a positive test result, as revealed by interviews conducted by Reuters with dairy experts, veterinarians, and farmers across […]

Olam Group, a leading Singapore-based commodities trader, announced a slight increase in its first-half profit, with earnings rising by 0.2% to S$48 million ($36.5 million) for the period of January to June, compared to S$47.9 million a year earlier. This marginal growth came despite a notable revenue increase of 9.1%, which reached S$26.9 billion, driven […]

In July, India’s palm oil and soyoil imports surged to their highest levels in nearly a year, driven by refiners ramping up purchases in anticipation of festive demand and a recent correction in prices. According to the Solvent Extractors’ Association of India (SEA), palm oil imports rose by over 37% from the previous month, reaching […]

Indonesia’s president-elect, Prabowo Subianto, has proposed a significant initiative to provide free meals to over 80 million school children, a plan that is expected to enhance dairy consumption and increase imports to support the country’s underdeveloped milk industry. This ambitious program, budgeted at $28 billion, aims to improve nutrition in a nation where caloric intake […]

This year’s French soft wheat crop, heavily impacted by rain, is expected to yield the smallest volume since the 1980s and is exhibiting mixed milling quality, according to FranceAgriMer. The ongoing heavy rainfall has affected both wheat planting and yields, presenting challenges for farmers facing lower prices and rising costs. In its initial assessment, FranceAgriMer […]

Jordan’s state grains buyer has successfully purchased approximately 60,000 metric tons of hard milling wheat in an international tender held on Tuesday. The wheat is to be sourced from optional origins, with reports indicating that it was acquired from trading house CHS at an estimated cost of $259.90 per ton, including cost and freight (c&f) […]

On Tuesday, China’s central bank announced it will provide an additional 100 billion yuan ($14 billion) to banks to support the rebuilding of areas affected by recent floods, which have damaged approximately 6 million acres of crops. The country has faced severe weather events, including Typhoon Gaemi, record rains in southern rice fields, and intense […]

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), announced the purchase of 280,000 metric tons of wheat in a recent tender, significantly missing its target of 3.8 million tons. This tender was the largest ever launched by GASC and aimed to capitalize on falling wheat prices. However, traders noted that higher-than-expected prices […]