ao link


Linked In

Morning round-up, Monday September 09


* Chinese customs data on Sunday showed that the country’s soybean imports for August jumped 9.7% from July, the biggest increase in nearly 18 months.


According to the country’s General Administration of Customs, August’s imports reached 9.48m tonnes, up from July’s 8.64m. It is also bigger than August 2018’s 9.15m tonnes.


Reuters reported that industry analyst Xie Huilan believed the increase in imports was due to some soybean shipments from the United States only being cleared in August after a delay.




* Russia’s SovEcon consultancy said that export prices in the country for wheat with a 12.5% protein content dropped to $186.5 a tonne on a free board basis, its lowest level since October 2017.


The agricultural consultancy said that strong competition from other wheat producers were to blame for the drop in Russian prices.




* Canada’s Trade Minister Jim Carr said on Friday that the country would be approaching the World Trade Organization (WTO) to challenge China’s decision to ban its canola exports.


China announced in March that it would be blocking all imports of Canadian canola seeds because they contained pests.


It is largely believed that this was in retaliation for Canada’s decision to detain a Chinese tech exec for extradition to the US.


Canada is seeking bilateral consultations with China at the WTO due to negotiations between the two nations not progressing fast enough.




* Russia’s RIA news agency reported on Friday that the country’s agriculture ministry expects China to open its markets for Russian wheat within a year.


The ministry is reportedly also hopeful that China will import Russian beef and pork within in the next 12 months.



* Abiec, Brazil’s leading meat export industry group, has joined various NGO’s in the country in calling for Brazil to step up protection of the Amazon.


The group, along with 10 others, are asking the government to end deforestation on public lands and for protected conservation areas to be maintained.


Wild fires have destroyed large parts of the Amazon in recent weeks and have highlighted the role that Brazil’s meat industry plays in deforestation in the area.



Related Stories

Evening markets: Grain futures suffer another start-of-week selldown

Bears are in the ascendancy as weather worries over the likes of North American spring wheat ease, and vegoils drag on the oilseeds complex

Indonesian palm oil 2021

Agrimoney Markets Extra’s running table of estimates for output in the world’s top ranked producing country

The Verdin View: April WASDE report - Changes across the board

Hear the views of Mike Verdin, Editor in Chief of Agrimoney, on the April WASDE report which showed change on the 3 major balance sheets: corn, soybeans and wheat. Due to increased South American production of soybeans, the USDA raised the forecasts for world stocks, which was negatively received. However, overall the WASDE was quite bullish. From cutting world corn and cotton forecasts to a large cut to Chinese wheat inventory estimates, this month’s report had a lot going on... I

Coffee targeted as funds sell down in softs - but buy in grains

Hedge funds halve their net long in arabica coffee, amid renewed demand worries amid the pandemic. But soybeans attract buying after a downbeat US sowings forecast
Home | About | RSS | Commodities | Companies | Markets | Legal disclaimer | Privacy policy | Contact

Our Brands: Comtell | Feedinfo | FGInsight

© 2021 and Agrimoney are trademarks of Agrimoney Ltd
Agrimoney is part of AgriBriefing Ltd
Agrimoney Ltd is registered in England & Wales. Registered number: 09239069