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A farmer in China piles wheat. Photo: Reuters/File
Crops, Markets

China to launch grain reserves company in 2023

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Reuters — China’s state-owned grains trader COFCO said on Thursday a new joint venture it has set up with state stockpiler Sinograin to manage the country’s huge grain reserves will officially begin operations next month. The China Enterprise United Grain Reserve Co. Ltd. was established in September, according to the COFCO statement on its public […] Read more
(DarcyMaulsby/iStock/Getty Images)
Crops, Markets

China to release potash reserves

Move said to be intended to ensure supply, stabilize prices

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Beijing | Reuters –– China’s state planner on Wednesday said the government would take measures to keep supply and prices of fertilizers stable, including releasing potash fertilizer reserves and ensuring imports reach farmers as it looks to bolster food security. The National Development and Reform Commission (NDRC) said it was one of 13 government departments […] Read more
A general view of damage at the site of Tuesday’s blast in Beirut’s port area on Aug. 5, 2020. (Photo: Reuters/Mohamed Azakir)
Crops

After blast, Lebanon has less than a month’s grain reserves

Beirut port silos had capacity for 120,000 tonnes; about 15,000 tonnes were stored at time of blast

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Beirut/Dubai | Reuters — Lebanon’s main grain silo at Beirut port was destroyed in a blast, leaving the nation with less than a month’s reserves of the grain but enough flour to avoid a crisis, the economy minister said on Wednesday. Raoul Nehme told Reuters a day after Tuesday’s devastating explosion that Lebanon needed reserves […] Read more
CBOT July 2020 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Export hopes push soy, corn, wheat futures higher

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Chicago | Reuters — U.S. soybean, corn and wheat futures rose on Thursday as recent declines spurred demand for imports of all three commodities, traders said. Bargain-buying and short-covering contributed to the bullish tone following a sharp sell-off across the commodities market as the coronavirus pandemic roiled demand. “None of the major commodities have a […] Read more
The Nile River at Cairo. (CIA.gov)
Crops, Markets

Speculation shrouds grain demand, rejections from Egypt

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CNS Canada — Egypt, the world’s biggest buyer of wheat, rejected three cargoes of the grain last week — its first rejections since it overhauled its inspection system and relaxed its import policy last fall. Three cargoes of wheat — two Russian, one Argentinian — purchased by Egyptian grain buyer GASC were rejected last week […] Read more

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