Soybeans inches 0.5% to 3,767 yuan a tonne on the China market
Temitayo Ayetoto
March 26, 2018
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 […]
Soybean prices subtle amid China-US trade tiff
Businessam StaffMarch 23, 2018
Soybean price reaction has remained subtle as the China-US trade tiff continues to grow. Moves in futures prices were more telling in China where Dalian soybeans for May added 0.9% to 3,749 yuan a tonne, their highest close in nearly four months, while May soymeal gained 1.1% to 3,026 yuan a tonne, as buyers sought […]
Soyabean gains 0.4% to $10.33 a bushel
Businessam StaffMarch 22, 2018
Soybean futures for May gained 0.4 percent to $10.33 ½ a bushel, reducing to 1.6 percent its decline so far this week, and moving decisively back above their 40-day moving average. Soymeal futures for May also gained by 1.0 percent to $368.20 a short tonne, curtailing their overall loss this week to 1.3 percent. Weakness […]
Oilseeds prices rebound on Argentina, Malaysia dryness
Temitayo AyetotoMarch 21, 2018
Oilseeds rebounded Wednesday on a broadly upward direction, with sustained impressions that the Argentine rains, which came in the weekend and sent soy prices tumbling, were not robust, and were too late in the day to have saved yields. “The amounts were in the range of 1-2 inches, but the coverage was confined to generally […]
Hedge funds grain buying stirs concerns
Businessam StaffMarch 19, 2018
Concerns grew over the extent of hedge fund buying in grains as sales in coffee and sugar prompted Societe Generale to caution over the potential for a short-covering wave in the soft commodities. Managed money, a proxy for speculators, lifted its net long position in futures and options in the top 13 US-traded agricultural commodities […]
Chinese corn farmers brace up for higher prices after years of low cultivation
Temitayo AyetotoMarch 19, 2018
Corn farmers in China are bracing up for higher prices and profits through increased planting after years of low cultivation induced by a government’s five-year plan to cut cultivation. Corn planting has fallen for the past two years as Beijing focuses on whittling down nearly 200 million tonnes of corn stocks, the legacy of a […]
Rice production upsurge, but price fails to yield ground
Temitayo AyetotoMarch 18, 2018
Since the renewed commitment to explore robust revenue generation from the agricultural sector, the President Mohammadu Buhari’s administration has heavily thrown its weight behind improving widespread cultivation of rice in the country. In the last few years, an appreciable chunk of investment from both public and private pockets has flown in the direction of supporting […]
Drought concerns fail to dampen as Soybean futures extend gains
Businessam StaffMarch 16, 2018
Soybean futures for November extended gains by 0.4 percent to $10.38 per bushel on the nerve of undermined impact of Argentina’s drought. Adecoagro downplayed the impact of Argentina’s drought on its own crops, despite Rosario Grains Exchange slashing its forecasts for the country’s soybean output from 6.5m-tonne cut to 40.0m tonnes forecast. The New York-listed […]
Soybean futures rally ahead of US export data
Businessam StaffMarch 15, 2018
May contracts for corn and soybean began on a firm note early Thursday in the spot positions in Chicago, although early trading direction has not always borne much relation to what happen ahead in the session. Soybean futures indeed managed some headway in early deals, adding 0.5 percent to $10.37 ½ a bushel early hours […]
Low wheat production costs Nigeria $4.2bn on imports annually
Businessam StaffMarch 15, 2018
Low productivity in wheat farming is costing Nigeria about $4.2 billion annually on the import of the commodity, according Olowasina Olabanji, the executive director, Lake Chad Research Institute (LCRI), Maiduguri, Borno State. He said the country produces far less than its national consumption level of about 4.7 million metric tonnes, adding that the country must […]