Huge Chinese corn order confirmed, but prices ease

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Corn futures eased despite confirmation of a huge Chinese import purchase, which prompted talk that US officials may have been too gloomy in downgrading expectations for US exports of the grain. US Department of Agriculture officials said that China had purchased 900,000 tonnes of American corn, with a further 292,000 booked to an "unknown" destination,…


Germany leads jump in European cocoa grind

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Cocoa prices – temporarily – revived after data showed European usage of the bean rising by its fastest rate in 11 years to a record high, led by a 36% jump in German consumption. Western Europe’s cocoa grind hit 377,388 tonnes in the July-to-September period, a rise of 14.0% year on year, and the fastest…


Supply hopes turn Goldman gloomier on wheat prices

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Goldman Sachs, which two weeks ago cut its forecast for wheat futures, signalled a further downgrade as brokers continued to issue warnings over prices following a lift to hopes for world supplies of the grain. Goldman analysts, who on September 30 lopped up to $1.50 a bushel from forecasts for Chicago wheat futures after data…


EU Pig Prices: Price Level Almost Steady

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EU – Like last week, the steady pricing phase continues in the European slaughter pig markets. After a five-weeks period of steady prices, Spain alone had to accept a slight fall in prices equivalent to 2 euro cents. All other countries remained on an unchanged price level or reported a slight price increase. The pigs…


Massive export opportunities for UK farmers

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STRENGTHENING export opportunities for the British beef and lamb sector is key to driving the industry forward and sending a clear message to the world that the UK is open for business, experts told the Anuga Food Fair in Cologne. Eblex’s head of trade development, Peter Hardwick, whose team helps producers who want to export…


Rwanda: Agriculture Body Joins Fight Against Poultry Disease

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Rwanda Agriculture Board (RAB) in partnership with The African Union Interafrican Bureau for Animal Resources (AU-IBAR) has launched a vaccination exercise to eradicate previously neglected poultry diseases to minimise losses incurred by farmers. For the last five years, records indicate that Newcastle disease has claimed over 1.5 million birds causing an approximate loss of US$13.6m.…


CME: USDA Releases Latest Grain Estimates

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US – USDA released its latest estimates of US grain and meat supplies for 2012 and below is a brief recap of the grain forecasts and our initial read of the data, write Steve Meyer and Len Steiner. US nearby corn futures were up the daily permissible limit during the day session on Tuesday on…


Morning markets: crop prices ease awaiting China order news

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EF Hutton was a US stockbroker which became something of an icon in the 1970s and 1980s, famous for an advert that said "when EF Hutton talks, people listen", before running into scandals and seeking refuge in a merger with Shearson Lehman. Anyway, China today is, for agricultural markets, apparently like EF Hutton was (in…


India may produce record over 86 mn tonnes of wheat: Sharad Pawar

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NEW DELHI: Wheat production is expected to cross 86 million tonnes to set a new record in the ongoing 2011-12 crop year, boosted by a good monsoon and a likely rise in support prices, Agriculture MinisterSharad Pawar said today. Wheat production in India, the world’s second-largest producer, stood at a record 85.93 million tonnes in…


Red meat exports are on the rise

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BEEF and sheep meat exports have increased considerably in the first six months of the year, according to figures released by Hybu Cig Cymru (Meat Promotion Wales). During the January to June period, sheep meat exports from the UK increased by six per cent to 41,000 tons while beef exports rose by 39 per cent…


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