Beijing | Reuters — China said on Monday it was set to approve the safety of another genetically modified (GMO) corn variety and a GMO soybean, both produced by Beijing Dabeinong Technology Group Co. Ltd. The move comes after China last year approved three domestically designed GMO crops as safe, the first in a decade, […] Read more
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China to approve further domestic GMO corn, soy crop varieties
U.S. grains: Futures slip on South American rains
USDA report seen cutting U.S. soy, corn supply estimates
Chicago | Reuters — U.S. soybean futures slipped from 6-1/2-year highs on Monday on crop-boosting rains in South America and as investors squared positions ahead of eagerly awaited U.S. government crop forecast data due on Tuesday. Corn and wheat futures also pulled back from multi-year peaks posted last week as the U.S. dollar firmed and […] Read more
U.S. grains: Soybeans to 6-1/2-year top on expectations of tightening stocks
Corn futures up, wheat retreats
Chicago | Reuters — U.S. soybean futures resumed their rally on Friday after a light setback a day earlier, climbing to 6-1/2-year highs on signs of fresh export demand and expectations that key U.S. crop reports next week will indicate tightening global supplies. Corn futures also rose, hovering near multi-year highs set this week above […] Read more
China building world’s largest seed bank
Larger facility a bid to boost food security
Beijing | Reuters — China will complete a new national crop germplasm bank this year, the agriculture minister said Wednesday, to boost the country’s capacity to develop new crop varieties and enhance food security. The bank has a designed capacity of 1.5 million copies, almost four times the existing one, and will be the world’s […] Read more
Canada has new top soybean buyer
Iran purchased 383,000 tonnes of soybeans from January to the end of September, worth $181 million
Glacier FarmMedia – In 10 seconds or less, name the Number One buyer of Canadian soybeans in 2020. Japan? The United States? China? The answer is Iran. Why it matters: Canada has struggled to replace soybean demand from China since it disappeared in 2019. From January to the end of September, Iran bought 383,000 tonnes […] Read more
China meat assoc calls for exporters to disinfect shipments to prevent COVID-19
Beijing | Reuters – Chinese meat importers and processors have called on exporters in countries with COVID-19 outbreaks to step up checks on shipments before they are sent to the world’s biggest market, the country’s top industry group said. “China has been importing a large quantity of meats this year, and has detected virus on […] Read more
U.S. grains: Soybeans end higher for direction amid Argentine supply woes
Chicago | Reuters – U.S. soybean futures ended higher on Tuesday after trading both sides of even as the markets weighed South American rainfall against the ongoing labor strike disrupting Argentine exports, while traders took profits ahead of the U.S. holiday break. U.S. wheat futures also benefited from the cargo backups in Argentina, and corn […] Read more
Australia to appeal at WTO over China’s barley tariffs
China in May imposed tariffs totalling 80.5 per cent
Sydney | Reuters — Australia will launch a formal appeal to the World Trade Organization (WTO) later on Wednesday seeking a review of China’s decision to impose hefty tariffs on imports of Australian barley, Minister for Trade Simon Birmingham said. Acknowledging the appeal may take years to be resolved, Birmingham told reporters Australia would also […] Read more
U.S. livestock: Hog futures rally on technical buying
CME cattle futures lower
Chicago | Reuters — U.S. lean hog futures rose slightly on Tuesday on follow-through buying from a rally on Monday, traders said. Cattle futures eased, pressured by recent weakness in the cash markets as well as some technical sales. Chicago Mercantile Exchange (CME) February lean hogs rose 0.775 cent to settle at 66.45 cents/lb. (all […] Read more
Specialized trade policies advised for Canada
Report says Canada needs one approach for the U.S. and China and another for rules-based trading nations
Glacier FarmMedia – Canada should adopt separate strategies to deal with trade issues involving the United States and China, and a third approach for more rules-based trading nations, says a new report by Agri-Food Economic Systems. Why it matters: The U.S. and China have focused on their relationship with each other and that means challenges […] Read more
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