2018 harvest: 24 million tonnes of wheat expected in Ukraine

Wheat

About 24 million tonnes of wheat are expected from Ukraine’s harvest this year, according to a review of forecast by the Agrarian Policy and Food Ministry of Ukraine. “Having received the latest updates from the regions, we improve our current forecast for wheat crop. Thus, we expect to have the wheat harvest of 24 million […]

WFAN, FMAN agree Nigerian wheat should sell at N130,000 a tonne

WFAN

Wheat Farmers Association of Nigeria, (WFAN) and Flour Millers Association of Nigeria (FMAN) have agreed to fix the off taking price of the produce (Nigerian wheat) at N130, 000 a tonne, representing 8.3 percent increase over the previous price of N120, 000. The agreement followed series of meetings and deliberations between both parties. WFAN has […]

FAO sees 20.6m tonnes contraction in global grain reserve in 2018-19

Rice

The UN food agency, Food and Agriculture Organization (FAO), in its first forecasts for 2018-19 has estimated a 20.6 million tonnes contraction in world grain reserve. This means inventories of cereals including wheat, coarse grains and rice would drop by 20.6 million tonnes over the next season to 756.0m tonnes. The fall which marks the […]

Soybean price inches higher on USDA forecasts

Soybeans

Soybean inched slightly higher to $10.55 per bushel in the early trading session Wednesday on the strength of the US Department of Agriculture’s forecast reflecting low yield potential from North America and Europe in 2018/2019. The commodity made a 0.5 per cent increase from $10.50 closing price on Tuesday. The yield reduction, the forecasts say […]

Higher grains, dairy prices provide strong push to FAO price index

Rice

The food and Agricultural Organisation, FAO has said higher increases in grains and dairy prices gave a strong push to its price index which rose for the second consecutive time in March. The FAO Food Price Index (FFPI) averaged 172.8 points in March 2018, 1.1 percent or 1.8 points higher than the February figure. The […]

Nigeria’s wheat import could be down 60% by 2050 on availability of seedlings

WFAN

Nigeria could achieve about 60 percent reduction in wheat importation by 2050 if it takes seriously the availability of seedlings for farmers, Oluwasina Olabanji, the executive director, Lake Chad Research Institute, has said. The team leader, Wheat Value Change in Nigeria said robust accessibility to seedlings was generally pivotal to encourage increased output in crop […]

Corn, soybean, wheat futures rise on US weather concerns

Corn, soybean and wheat futures rose Wednesday over poor weather-induced planting delay in the US, which prevented field operations, according to reports by agrimoney. The weather conditions specifically supported Chicago corn prices, which closed 0.3 percent up at $3.89 a bushel. Soybean was up 2.50 cents higher at $10.38 a bushel, soya meal $2.70 a […]

IFAD boosts rice, cassava production in Benue with N2.7bn investment

Revolution

International Fund for Agricultural Development (IFAD) has invested more than N2.7 billion to boost rice and cassava production in Benue State since September last year. Emmanuel Igba, the IFAD state programme coordinator, disclosed this in Makurdi at its first quarter meeting recently. He said the programme was being executed through the IFAD- Value Chain Development […]

Soybeans inches 0.5% to 3,767 yuan a tonne on the China market

Soybeans

Soybeans on China’s Dalian market inches 0.5% to 3,767 yuan a tonne in spite of chances of being hit if Beijing hampers imports of US soybeans as traders fear. The rise is expected given the gains in prices of the commodities in Chicago, where soymeal stood up 1.2% at $382.30 a short ton for May […]