New grain terminal opens in Saudi Arabia
National Grain Co., a joint venture between the Saudi Agricultural and Livestock Investment Co. (SALIC) and Bahri, inaugurated the Yanbu Grain Handling Terminal on Dec. 22 at Yanbu Commercial Port. The company said the new terminal features a storage capacity of 156,000 tonnes, including 12 silos with a total capacity of 96,000 tonnes and a...
Heat, dryness expected in Brazil
Most of the commodity trade fear of La Niña negatively influencing South America has passed. Weather conditions since the end of October have been mostly very good in Brazil and Argentina and the market mentality has been more bearish than bullish over futures prices; however, changing weather this month is likely to bring a little...
Brazil expecting record grain output
Brazil is anticipating a bin-busting grain harvest in the 2024-25 marketing year, according to a report from the National Supply Company (Conab), released on Dec. 12. Conab forecasts record grain production at 322.4 million tonnes, which would represent an 8.2% increase from 2023-24. The company projects that 81.39 million hectares will be sown in the...
Russia to cut wheat exports
Reuters reported, citing the Russian government, that Russia, the world’s leading exporter, plans to cut its wheat export quota by two-thirds in 2025. It will also hike wheat export duties by over 18% beginning Dec. 4, 2024, and eliminate import quotas for some staple foods. The Eurasian Economic Union (EEU) Council said Russia’s export quotas...
Biofuels preparing to take flight
After soaring in the early 2000s only to see more modest growth in recent years, the biofuels industry might be on the verge of flying high again … about 35,000 feet high to be exact. A push by “green” energy proponents for a more environmentally friendly airline fuel has led to the development of sustainable...
Rain improves US Plains wheat conditions
Recent rainfall has quickly changed the direction of winter wheat crop conditions in the US central and southern Plains. Growers hope additional rain in forecasts signals a pattern change to pull those regions out of drought, promote emergence before the hard red winter wheat crop goes dormant, and lessen the burden on spring precipitation to...
Renewables, Trade segments boost The Andersons earnings
Strong renewables production and improved results in the Trade segment boosted The Andersons net income attributable to the company to $27 million, equal to 80¢ per share on the common stock, for the third quarter ended Sept. 30, up from $9.7 million, or 28¢ per share, in the same quarter a year earlier. “Overall, we...
US grain exports in all forms increase 26%
Exports of US grains in all forms increased by 26% to 109.4 million tonnes in the 2023-24 marketing year, according to data released by the US Department of Agriculture (USDA). The exports, valued at $48 billion, were bolstered by a record 1.75 billion gallons of ethanol sold internationally and a single-market record 23.4 million tonnes...
Drought stymies Brazilian grain shipments
A severe drought in northern Brazil has significantly lowered water levels on the Tapajos waterway, halting grain shipments. Brazilian port terminal group Amport, which represents firms such as Cargill and Louis Dreyfus, told Reuters that navigation of barge convoys carrying grains in the Tapajos has been halted since Oct. 4, and is expected to resume in November if...
Russian missiles strike grain ships
A Russian missile struck a grain vessel docked at the Port of Odesa on Oct. 7, killing one person and injuring five crew members, Reuters reported, citing Ukrainian officials. It was the second attack on a docked grain ship in Ukraine in as many days, as a vessel at the nearby Port of Pivdennyi carrying 6,000 tonnes...