GFM Network News

U.S.-China trade fears halt soybean imports

Reading Time: 3 minutes Singapore/Beijing | Reuters — China’s purchases of U.S. soybeans have come to a grinding halt, trade and industry sources say, as fears of further action by Beijing to curb imports of U.S. crops following last week’s anti-dumping move on sorghum rattles the agriculture industry. Buyers from China, which takes 60 per cent of soybeans traded […] Read more

Brazil cuts into U.S. soybean market share in China

Reading Time: 2 minutes Reuters – Brazil is expected to win a larger share of China’s soybean imports in coming months, hitting U.S. exporters during the peak marketing season for their most valuable farm product as the world grapples with a fifth consecutive bumper crop. China is expected to buy about five million tonnes of soybeans from Brazil for […] Read more

U.S. grains: Wheat rises for a second day on short-covering

Reading Time: 2 minutes Singapore/Paris | Reuters, 7:01 a.m. CT –– Chicago wheat futures prices rose for a second session on Friday with short-covering ahead of the Labour Day holiday weekend supporting prices, although the trend was set for a second week of declines amid plentiful world supplies. Corn was up for a second day, recovering from a multi-year […] Read more

China’s farmers switch to soy amid corn market reform

Reading Time: 3 minutes Reuters — Wang Zhonghai, a 49-year-old farmer in China’s top corn producing province of Heilongjiang, plans to switch 80 per cent of his land to cultivate soybeans this year as the government ends a near-decade-old corn price support scheme. China announced last week it will stop its corn stockpiling program and allow markets to set […] Read more

China expected to boost imports of protein-rich wheat

Reading Time: 2 minutes Beijing/Singapore | Reuters — Chinese wheat buyers are likely to step up imports of higher quality grains to meet a domestic shortfall even though total overseas purchases are forecast to tumble this year due to bumper production at home, analysts and traders said. China, the world’s biggest wheat producer and consumer, has seen output climb […] Read more

Asia’s mills eye Canada’s wheat as Australian supply slows

Reading Time: 2 minutes Singapore | Reuters — Asian flour millers are looking at buying Canadian spring wheat for shipment early next year as supplies from drought-hit Australia are likely to remain slow, traders said. Canadian western red spring wheat is being offered at around $345 a tonne, including cost and freight, nearly unchanged from last week, while Australia […] Read more

Australian farmers hold back wheat sales as dryness curbs yields

Reading Time: 2 minutes Reuters — Australian farmers are holding back wheat crop sales as dryness in parts of the country’s eastern grain belt cuts yields, raising the likelihood for a boost to global prices that have dropped 13 per cent this year. Farmers in the world’s fourth biggest wheat exporter have sold only about a quarter of this […] Read more