Ministers meeting at a major international climate summit next month may reach an agreement on emissions reduction targets and financing, but a final deal isn’t expected until at least early 2010, the U.N.’s top climate negotiator said Thursday.
Concern about fungal disease in corn has rippled through both the corn and soymeal futures markets late this week, but on the ground those ripples might not extend beyond parts of the northeast corn belt.
With the El Nino weather system building, heavy rainfall has already coated the south of Brazil and Uruguay and is moving south to soak most of Argentina’s farm belt.
Asurvey of local lenders conducted by the Federal Reserve Bank of Kansas City finds that farmland values in the central Plains/western Corn Belt held steady during the third quarter of the year, despite falling farm income and weaker agricultural credit conditions.
India’s winter-sown wheat acreage up to Nov. 12 rose about 5% on year to 5.67 million hectares, according to government data Friday, which could help cushion a shortfall in summer-sown foodgrains production.
The growth of processing capacities, and the high demand of importers caused the essential increase of production volumes of sunflower oil in the new season.
To date, our agency estimates the potential of sunflower oil production in 2009/10 MY at the level of 2.6 mln tonnes as opposed to 2.7 mln tonnes in 2008/09 MY.
According to estimations of APK-Inform experts, in 2009/10 MY, the export potential of grains and leguminous plants from Ukraine totals 16.8 mln tonnes, down 33% compared to the export volumes in 2008/09 MY. Despite the decrease of export volumes, the mentioned volume is rather large-scale, and exceeds the average annual indices of the previous seasons (except of 2008/09 MY).
Cattle futures fell to the lowest level in five weeks as wholesale-beef prices slipped, signaling consumers may be slowing purchases as the economy slumps. Hogs also dropped.
“We ran into some farmer selling above $4 today,” said Greg Grow, the director of agribusiness for Archer Financial Services in Chicago. “Farmers are making progress harvesting this week.”
Corn futures for December delivery fell 0.5 cent, or 0.1 percent, to $3.94 a bushel on the Chicago Board of Trade. Earlier, the price reached $4.03, the highest level for a most- active contract since Oct. 23.
Russia harvested 101.4 million metric tons of grain in the year to Nov. 11, down 12.5 million tons from the same date last year, the agriculture ministry said Wednesday.