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Morning round-up, Monday March 09


* Official data from China’s General Administration of Customs released on Saturday showed that the country’s soybean imports for the first two months of the year jumped 14.2% compared to the same period in 2019.


China imported 13.15m tonnes during January and February, up from last year’s 11.83m tonnes for the same two months.



* Norwegian fertilizer producer, Yara announced on Sunday that it has agreed to sell its 25% stake in joint venture, Qatar Fertilizer Company, to Qatar Petroleum for $1bn.


The transaction is subject to regulatory approval.



* Cargill said that all its Chinese plants and facilities have now resumed operations following shutdowns due to the coronavirus outbreak, including two animal feed mills in the country’s hardest-hit Hubei province.



* China on Monday said that it will be setting up at least 29 sites by the end of March along its borders with India, Pakistan and Myanmar to monitor the spread of locusts.


The government said in a statement that although the chance of a locust invasion is very low, the measures were necessary to protect this year’s harvest.



* European traders told Reuters on Monday that South Korea’s Major Feedmill Group bought around 131,000 tonnes of corn in an international tender at around $204.50 a tonne c&f.


Delivery is expected in July.


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