Corn futures cling to gains as demand soars
Onomev Amuge
March 17, 2021
Onome Amuge Chicago corn futures rose higher on Tuesday to clinch an eight-day peak following the latest report by the United States Department of Agriculture (USDA) confirming that export demand for the grain had soared over the week. The weekly USDA report showed corn export inspections of 2.204 million tonnes, up from 1.673 million tonnes […]
Brazil rides wave of soybean sales to China as U.S. trade war rages
Businessam StaffMay 23, 2019
Soybean trading in Brazil has gained momentum in recent days, driven by a wave of Chinese demand, boosting prices and premiums paid at ports amid a weakening of the Brazilian currency, according to analysts. An estimated 5.5 million tonnes of soybeans have traded over the past few days, and are slated to leave Brazilian […]
2018 harvest: 24 million tonnes of wheat expected in Ukraine
Temitayo AyetotoAugust 7, 2018
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
Temitayo AyetotoJuly 30, 2018
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
Temitayo AyetotoMay 3, 2018
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
Temitayo AyetotoApril 11, 2018
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
Temitayo AyetotoApril 9, 2018
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
Temitayo AyetotoApril 9, 2018
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
Temitayo AyetotoApril 4, 2018
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
Businessam StaffApril 4, 2018
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 […]