Turkey gradually increasing wheat imports
With ending stocks having been whittled down thanks to measures taken by the Turkish government to reduce excess inventory, the country’s wheat imports are expected to increase in the second half of the 2024-25 marketing year, according to a recent report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. Turkey’s wheat...
Trade results contribute to The Andersons earnings
An early harvest boosted the Trade segment of The Andersons’ results, making a significant contribution to the fourth quarter ended Dec. 31, 2024. Net income at The Andersons in fiscal 2024 totalled $114.01 million, equal to $3.35 per share on the common stock, up 13% from $101.19 million, or $3 per share, in fiscal 2023....
Brazil’s grains production in record territory
Greater planted area and a recovery in productivity have Brazil poised to harvest 325.7 million tonnes of grains for the 2024-25 season, according to the National Supply Company’s (Conab’s) recently released forecast. The current estimates would be 9.4% greater than the previous season. The latest producer survey reflects a 2.1% increase in the cultivated area,...
Trade war averted, but US tariff threats remain
A trade war between the United States, Canada and Mexico was averted on Feb. 3 as the three countries’ leaders reached agreements to pause any actions for 30 days. The short-term contracts ended the threat that the US would impose tariffs of 25% on imports from Canada and Mexico on Feb. 4, and that those...
Canada: Durum production down 12%
Production of Canada’s principal field crops is expected to decrease in 2025-26, Agriculture and Agri-Food Canada (AAFC) said in its preliminary outlook for 2025-26 Canadian supply and demand. Forecasted increases in Canadian wheat, barley and oats were more than offset by decreases in corn, canola, soybeans and other crops. The outlook was contained in the...
Rains slow Brazilian soybean harvest
Excessive rains have bogged down Brazil’s soybean harvest for the 2024-25 season, and unfavourable weather has delayed the planting of the second corn crop, Reuters reported, citing agribusiness consultancy AgRural. As of Jan. 17, farmers had harvested just 1.7% of the planted area for the current season, the lowest level for this time of year since...
Bunge deal to acquire Viterra gets OK from Canada
With a raft of conditions, the Canadian government has given the green light to Bunge Global SA’s 18-month-old deal to merge with fellow agribusiness giant Viterra. Anita Anand, minister of transport and internal trade, late on Jan. 14 announced Canada’s approval of the $18 billion transaction, under which Bunge Global SA plans to acquire Viterra Ltd. However,...
India’s rice stocks reach record high
While its wheat stocks continue to drop, India’s rice stocks hit a record at the beginning of January, reaching eight times the government’s target, Reuters reported. Rice reserves totaled 60.9 million tonnes on Jan. 1, much higher than the target of 7.6 million tonnes. Wheat stocks were at 18.4 million tonnes, above the target of 13.8 million...
FAS bullish on Argentine soybean crop
Strong soybean production and crush are anticipated in Argentina in the 2024-25 marketing year, but those lofty projections could be impacted by a developing La Niña weather pattern, according to the latest report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. With nearly 90% of the soybean crop planted, crop development...
Dryness expected in Brazil, Argentina
La Niña still has not evolved after various computer forecast models predicted it was imminent since last spring. Changes in ocean surface temperatures finally have become significant enough that traditional La Niña-biased conditions are beginning to show up around the world. An official La Niña event may not ever evolve, or if it does evolve...