#China is set to commercialise planting of genetically modified corn and soybeans after it approved a first batch of 26 seed companies to breed, sell and distribute the GMO seeds. This could boost yields and cut its reliance on grains imports from US & Brazil. #agriculture
BREAKING: The Arg Govt🇦🇷 proposes to increase export taxes for #soybean meal and oil to 33% from 31%. #Sunflower 🌻complex export taxes from 7 to 15%. There is no more incentive to crush #oilseed here. A great news for the #grain or raw materials importers around the world
hicago soyabean futures eased for a second session on Wednesday as the forecast for rain in Brazil tempered worries about dryness hurting harvest prospects in the world’s top soyabean exporter
@HabibNAWAZWazi2 yesterday I heard that Indonesia is offering good prices and now I see that they are raised their ref. prices and all
can you pls little elaborate pls
WTI Oil off the lows and steady above $75 this Tuesday.
The US Dollar is trading in the red and dips further as ECB is set to close the rate gap with the Fed.
Oil could sink if API numbers reveal another build in US stockpiles
CRUDE OIL
Oil prices rose on Wednesday as a storm in the Black Sea region disrupted oil exports from Kazakhstan and Russia, raising fears of supply tightness, while investors awaited a crucial decision by OPEC+, which might deepen or extend output cuts.
Unica on Monday reported that Brazil Center-South sugar output in the first half of November rose +30.9% y/y to 2.19 MMT and that sugar output in the 2023/24 crop year through mid-November rose +23.1% y/y to 39.412 MMT.
SUGAR
Sugar Prices Under Pressure as Brazil Ramps Up Sugar Output. Increased sugar production in Brazil should alleviate supply concerns and is undercutting prices.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange slid 25 ringgit, or 0.64%, to 3,872 ringgit during early trade.
The MYR rose 0.58% against the dollar, making the commodity more expensive for buyers holding foreign currency.
Chicago soybean futures on Wednesday held on to gains made in the previous session amid expectations that hot and dry weather in Brazil would reduce yields in the world's top producer
@hameed_sky no sir, I don't think so as you must aware of the brazil weather and planting are already delayed over there, also acceding to consultant in brazil name as Safras estimated over 2 mmt deduction in 23/24 production
what will be your comment on this sir