Global Grain & Oilseed Markets: Corn & soy, hurricanes and red herrings
With no additional corn or soy in sight, the market is getting spooked. Should you buy on a market correction or wait a while longer? Does corn or soy have better medium-term fundamentals?
The International Grains Council's (IGC) forecast of world wheat production for 2012-13 was lowered by three million tonnes to 662 million tonnes from its July projection of 665 million tonnes, and down 34 million tonnes, or 5% from a record 696 million tonnes in 2011-12.
Over the next few years, Southeast Asia's animal feed production will continue to grow consistently by at least 5-6% annually, with an expanding aquaculture sector playing a crucial role.
The detection of ethoxyquin in the shrimps exported to Japan has badly affected India's export prospects to that country wherein more than 10 consignments of shrimps have already been rejected by Japan in the recent weeks, causing heavy losses to exporters and shrimp farmers.
As it seeks to replace pricey rice in animal rations, Thailand is likely to import 1.5 million tonnes of feed wheat this year, a five-fold increase from 2011.
A strategic alliance to advance biological technologies in the field of agriculture has been formed between Monsanto Company and Alnylam Pharmaceuticals, Inc.
US agribusiness firm, Cargill, announces plans to operate one of China's major broiler production plants by the middle of 2013, thus elevating its status in the country.
CP Laos Co Ltd plans to increase operations next year in the northern provinces of Bokeo, Luang Prabang and Xayaburi in Laos in its bid to increase business opportunities.