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World awash with raw Sugar, El Nino threat in Brazil keeps bulls in charge

Posted on 27 March 2014 by VRS  |  Email |Print

The world is awash with sugar as Brazil sugar is being offered at deep discounts for export and new harvest a few weeks away. However, positive trends continue in ICE Raw Sugar futures for May delivery which is up 1.18% at US$ 0.171 a pound on possible El Nino impacting sugar production in Brazil later this year.But markets have calmed down after rallying to a four-month high of $0.1846 a pound.
In the short run, however, raw sugar is being offered at 10 points below ICE futures which suggests abundant stocks worldwide, a Reuters report quoting trade sources said…………………………………Full Article: Source

Farming in America: ‘There’s a growing discontent’

Posted on 24 March 2014 by VRS  |  Email |Print

It’s not easy being a farmer in the U.S. these days and it’s bound to get harder, say those who should know. “There’s a growing discontent among the farming community,” said John Kempf, a fruit and vegetable farmer in northeast Ohio.
“We have a farming model now that is antagonistic to the enjoyment of watching seeds grow and seeing a new born animal,” said the 26-year-old Kempf, who is chief executive of Advancing Eco Agriculture, a farming and crop nutrition consulting company………………………………………..Full Article: Source

FMC likely to ease price limits for agricultural commodities soon

Posted on 24 March 2014 by VRS  |  Email |Print

Commodity market regulator Forward Markets Commission may relax the daily price limit for agricultural commodities on the futures platform. This will be in line with that of non-agricultural commodities such as bullion, metals and energy traded on the exchanges.
Currently, agricultural commodities have a maximum daily price limit of four per cent on both the upper and lower sides. In contrast, bullion and other non-agricultural commodities, the first price limit is six per cent. It gets extended subsequently by three per cent, with a cooling period of 15 minutes………………………………………..Full Article: Source

Next boom in commodities could be in agri products: Report

Posted on 19 March 2014 by VRS  |  Email |Print

The next commodities boom could be in the agriculture sector with middle class incomes boosting the demand for food items such as meat, dairy, sugar and edible oils, an HSBC report said. This could present investment opportunities in agriculture, it said.
“It may, in fact, be the case that food prices have the potential to outperform relative to metals and energy prices in the coming years, as growing middle class incomes continue to boost demand,” the HSBC Global Research said in its latest report………………………………………..Full Article: Source

How to play the rise in agricultural commodities

Posted on 19 March 2014 by VRS  |  Email |Print

So far this year, agricultural commodities have outperformed most other asset classes. While some have outperformed others in general, we have seen strong performances. In a market where investors are becoming jittery holding stocks after such a large increase in value, I suspect that some of that money is going to find its way into agricultural commodites and related assets.
This could be the catalyst that will drive agricultural commodities to a higher fundamental valuation, which is warranted given the fact that demand for these commodities is steadily increasing, while supply is not………………………………………..Full Article: Source

Hedge funds most bullish on ags in three years

Posted on 18 March 2014 by VRS  |  Email |Print

Hedge funds turned their most bullish on agricultural commodities for three years, as they flocked to bet on higher grain prices amid the mounting tensions over Ukraine, and raised the stakes on the sugar rally too.
Managed money, a proxy for speculators, raised its net long position in futures and options in the top 13 US-traded agricultural commodities, by more than 133,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission (CFTC) regulator………………………………………..Full Article: Source

Why coffee futures are up 80pct in 2014

Posted on 18 March 2014 by VRS  |  Email |Print

After commodities had a rough go in 2013, taking the backseat to surging equities, it seems that this year has more favorable conditions in store for a number of hard assets. Though a number of commodities have gotten off to a white-hot start this year, none have even come close to the gains that coffee futures have notched, as that commodity has spiked more than 80% through the first 10 weeks of the year.
Coffee on the Rise: Futures for coffee are currently hovering at a fresh two-year high, as production in the world’s most vital region has spooked investors. Brazil is, by far, the largest producer of coffee on an annual basis………………………………………..Full Article: Source

El Niño warning puts farmers and commodities investors on alert

Posted on 12 March 2014 by VRS  |  Email |Print

Commodities investors and farmers are on alert after the third official warning in a week of an El Niño weather phenomenon emerging that could affect food and energy markets already reeling from extreme weather in many parts of the world.
El Niño refers to a warming of Pacific sea surface temperatures that occurs naturally every few years and can trigger drought in some parts of the world and floods in others, depending on its strength………………………………………..Full Article: Source

Cotton: US,China announces fresh support for farmers ahead of planting

Posted on 06 March 2014 by VRS  |  Email |Print

World largest cotton exporter USA and consumer China have announced fresh farmer support policies ahead of planting season this year. International Cotton Advisory Commitee (ICAC) said that in March harvesting will be underway in the Southern Hemisphere while planting will take place in many countries in the Northern Hemisphere. In 2013/14, world area is estimated at 33.1 mn hectares and is expected to remain fairly stable in 2014/15 at 33 mn ha.
On February 7, 2014, President Obama signed the 2014 U.S. Farm Bill into law. The Direct Payments,Countercyclical Payments and Average Crop Revenue Election (ACRE) programs are repealed for all commodities and, for upland cotton, replaced by the Stacked Income Protection Plan (STAX)………………………………………..Full Article: Source

Grain boom busts Canada farmers as rail lags: Commodities

Posted on 05 March 2014 by VRS  |  Email |Print

Canada’s grain-supply boom is turning into a bust for farmers as record harvests and railroad logjams make sales almost impossible.
Consider Dennis Gallant, 76. He has yet to collect one cent on the wheat, canola, barley and oats harvested last year on the 1,000-acre farm in Warren, Manitoba, he has run since 1960. He has called the local grain elevator every 10 days since October. The answer since is always the same. No thanks. We’re full………………………………………..Full Article: Source

China’s smog suffocating agriculture?

Posted on 27 February 2014 by VRS  |  Email |Print

China’s air pollution is putting the country’s agriculture sector at risk, experts say. Smog has blanketed Beijing for at least a week, and much of north and central China — about one-seventh of the country — was also covered in smog last weekend, state-run news agency Xinhua reports.
On Wednesday evening, PM2.5 levels — the measurement of air pollution particles less than 2.5 micrometers in diameter, which pose health risks — averaged 446 micrograms per cubic meter over a 24-hour period, readings from the U.S. Embassy in Beijing showed………………………………………..Full Article: Source

When China’s food runs out

Posted on 12 February 2014 by VRS  |  Email |Print

New state guidelines from China suggest the country will soon be producing less grain than it consumes, ending a long-standing pledge to be self-sufficient in its staple foods. It might not sound much. But a China without self-sufficiency will have major ramifications around the world.
Today’s Financial Times cites new guidelines from the State Council, the most significant decision-making body in China’s national government, which set out the country’s food policy for the years ahead. It notes that, for the first time, the country has set a grains output target well below domestic consumption rates………………………………………..Full Article: Source

Global sugar market could switch to deficit in 2014-15

Posted on 11 February 2014 by VRS  |  Email |Print

The global sugar market could tip into a small deficit in 2014/15 after four years of surpluses as producers struggle to cover their costs, but the stocks built up during the years of ample supply will be a brake on any recovery in prices.
Traders and analysts attending the February 8-11 Dubai Platts Kingsman sugar conference said sugar consumption was outpacing flat-to-weaker production into 2015. “Pretty much all producers are operating at below costs of production,” said Kona Haque, head of agricultural commodities research at Macquarie Bank………………………………………..Full Article: Source

Coffee to soybean wagers climb on Brazilian drought

Posted on 11 February 2014 by VRS  |  Email |Print

Hedge funds raised bullish commodity bets to a 15-week high after a drought in Brazil threatened crops from coffee to soybeans. The net-long position across 18 U.S.-traded commodities climbed 15 percent to 900,330 futures and options in the week ended Feb. 4, the biggest gain since August, U.S. Commodity Futures Trading Commission data show.
Investors turned bullish on arabica coffee for the first time since July 2012 and soybean wagers rose by the most in almost three months. Brazil is the biggest exporter of both crops………………………………………..Full Article: Source

Global food prices drop 1.3pct in January: FAO

Posted on 10 February 2014 by VRS  |  Email |Print

Global food prices fell 1.3 per cent last month from December levels on large supplies of oils, sugar and cereals, according to the United Nations food agency FAO.
“We are seeing lower prices due to abundant supplies, but stronger upturn in demand, such as an increase in the pace of imports from Asia, could limit the decline,” said FAO economist Abdolreza Abbassian. The Food and Agriculture Organisation (FAO) price index measures monthly price changes for a basket of cereals, oilseeds, dairy products, meat and sugar…………………………….Full Article: Source

World cotton production to decline 4pct, mill use to rise 1pct: ICAC

Posted on 05 February 2014 by VRS  |  Email |Print

Global cotton production is expected to decreae 4% to 25.7 mn tons in 2013/14 compared to 2012/13 while mill use is likely to rise 1% to 23.6 mn tons according to International Cotton Advisory Committee (ICAC).
The 2013-14 production would be 8% off from peak production of 28 million tons in 2011/12. This is due principally to lower yields and less area planted with cotton. The world average yield in 2013/14 is forecast at 777 kilograms per hectare, down 2% from last season and world area is forecast at 33.1 million tons, also down 2% from last season………………………………………..Full Article: Source

PotashCorp forecasts weaker 2014

Posted on 03 February 2014 by VRS  |  Email |Print

Potash Corp of Saskatchewan reported a weaker than anticipated outlook this year, as CEO Bill Doyle observed that 4Q13 “was a challenger quarter.” “Pricing headwinds, most notably in potash persisted as global markets struggled to find stability,” Doyle said.
“Although we witnessed potash demand begin to return in certain regions, most notably in North America, where fall application was underway, limited buyer engagement in contract markets kept offshore shipments at muted levels,” he said. “In this environment, prices eroded and put pressure on gross margin for both the quarter and the full year.”……………………………………….Full Article: Source

Africa corn buyers miss out on cheaper world grain: Commodities

Posted on 22 January 2014 by VRS  |  Email |Print

A record global grain harvest has done nothing to help Jailos Kamuloni feed his family in Malawi, where costs have skyrocketed for the corn flour used to make the thick nsima porridge that people eat at almost every meal.
In parts of southern Africa, drought damaged crops and cut food supplies for countries lacking the resources to import cheaper grain from outside the continent. While corn futures in Chicago have plummeted to the lowest in three years, the price in Malawi jumped 20 percent in the past month……………………………..Full Article: Source

Hedge funds end record bearish spree on ag futures

Posted on 21 January 2014 by VRS  |  Email |Print

Hedge funds ended their longest spree of bearish positioning on agricultural commodities on record as they took profits on short positions in grains, and hiked bullish bets on live cattle to a three-year high.
Managed money, a proxy for speculators, raised by more than 53,000 contracts its net long in futures and options in the main 13 US-traded agricultural commodities as of Tuesday, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

Immense challenges for world hunger: agriculture ministers

Posted on 20 January 2014 by VRS  |  Email |Print

Resource scarcity, climate change and loss of soil fertility create uncertainty endangering investment in agriculture. Efforts to rid the world of hunger face immense challenges as farmers deal with resource scarcity, climate change and loss of soil fertility, agriculture ministers from 65 countries said.
Economic and financial crisis and excessive price swings create uncertainty that endangers investment in agriculture, the policy makers gathered in Berlin wrote in a joint statement published by the German agriculture ministry………………………………………..Full Article: Source

Commodities: China gets taste for cafe latte but investors must wait for returns to stir

Posted on 20 January 2014 by VRS  |  Email |Print

Longer-term investors have already started to position their portfolios to capture higher yields they hope will eventually come from rising demand for beans in emerging markets, especially China.
Coffee prices slumped late last year to a seven-year low on a supply glut but investors should focus on the long-term outlook for the commodity as the emerging trend for cafe latte replacing green tea among Chinese consumers picks up………………………………………..Full Article: Source

EU moves to curb food price bets by traders

Posted on 16 January 2014 by VRS  |  Email |Print

New rules would help decrease price volatility and inflation of staple foods and other commodities, says British MEP. The European Union has voted through rules to limit the ability of banks and hedge funds to bet on food prices.
Arlene McCarthy, a Labour MEP for the north-west, said the new rules, known as Mifid, would “curb speculation and help decrease price volatility and inflation” which had a “devastating impact on poor and food dependent countries”………………………………………..Full Article: Source

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Hedge funds’ bearish turn on ags extends into 2014

Posted on 14 January 2014 by VRS  |  Email |Print

Hedge funds started the new year where they left off 2013 in extending their bearish positioning on agricultural commodities, fuelled by a raise in their net short holding on Chicago wheat to a record high – a profitable call.
Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by more than 40,000 contracts in the first week of 2014, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

Corn pile biggest since 1994 as crop overwhelms use: Commodities

Posted on 10 January 2014 by VRS  |  Email |Print

Stockpiles of corn in the U.S., the world’s top grower, are rising at the fastest pace in 19 years as a record crop overwhelms increased demand for the grain used to make livestock feed and ethanol.
Inventories on Dec. 1, the first tally since the harvest was complete, probably totaled 10.764 billion bushels (273.4 million metric tons), 34 percent more than a year earlier, according to the average of 24 analyst estimates in a Bloomberg survey……………………………..Full Article: Source

Social issues divide France and Germany on agriculture

Posted on 09 January 2014 by VRS  |  Email |Print

The German Minister of Agriculture paid a visit to his French counterpart in Paris yesterday (7 January) in a show of unity between the two sides. But divisions remain deep on social dumping, an issue that is expected to become hotter in France as the EU elections approach.
Hans-Peter Friedrich, the new German minister of agriculture, met his French counterpart, Stéphane Le Foll, yesterday (7 January) in Paris to prepare the forthcoming Franco-German summit, scheduled for 19 February………………………………………..Full Article: Source

Hedge funds’ wheat gloom may ‘fuel price revival’

Posted on 08 January 2014 by VRS  |  Email |Print

The return, close to a record high, in hedge funds’ bets on falling wheat values, coupled with cold fears could - ironically - fuel a revival in prices, which took aim at a third successive day of gains on US markets.
Managed money, a proxy for speculators, cut its net long position in futures and options in the major 13 US-traded agricultural commodities by nearly 40,000 contracts in the last week of 2013, data from the Commodity Futures Trading Commission regulator showed………………………………………..Full Article: Source

What will 2014 and the next years hold for agriculture?

Posted on 30 December 2013 by VRS  |  Email |Print

The Midwest Rural Agricultural Safety and Health Conference in Ames in mid-November featured reviews of changes in agriculture during the past 40 years, along with predictions about what the next 40 years will offer. Some of the people whom I most respect for their understanding of agriculture and rural life tendered their assessments.
This is the first of two columns about the nearby future of agriculture. Nobody can predict more than a few years anymore………………………………………..Full Article: Source

Chocolate eaters drive record cocoa-output deficit: Commodities

Posted on 18 December 2013 by VRS  |  Email |Print

Global cocoa supplies are headed for the longest production shortfall in more than five decades as chocolate demand surges in Asia. Cocoa use will top output by about 70,000 metric tons in the 12 months started Oct. 1 and deficits will persist through 2018, a six-year stretch that would be the longest since the data began in 1960, said Laurent Pipitone, head of statistics at the International Cocoa Organization in London.
Prices may rally 15 percent to $3,200 a ton by the end of 2014, according to the median of 14 trader estimates in a Bloomberg News survey………………………………………..Full Article: Source

Hedge funds’ ag sell-down longest in six years

Posted on 17 December 2013 by VRS  |  Email |Print

Hedge funds’ sell-down on agricultural commodities extended to the longest in more than six years as investors position for what many commentators expect to be a bearish 2014 for prices, undermined by inventory rebuilds.
Managed money, a proxy for speculators, reduced its net long position in futures and options in the major 13 US-traded agricultural commodities by 18,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission………………………………………..Full Article: Source

Global wheat production to rise, USDA says

Posted on 12 December 2013 by VRS  |  Email |Print

Wheat futures fell early this morning after the US Department of Agriculture predicted a rise in global grain production. The USDA report forecast world wheat production for this year would increase 5 million tonnes or 8 per cent or to 711 million tonnes.
Most of this increase is from Canada which is expecting a record crop of 37.5 million tonnes, and last Australia’s production was also raised 1 million tonnes to 26.5 million tonnes. The UDSA said the near record world wheat supplies and increase export competition would reduce price prospects for US wheat………………………………………..Full Article: Source

Soft commodities ‘better bet than grains’ for 2014

Posted on 10 December 2013 by VRS  |  Email |Print

Soft commodities look a better bet for gains than grains in 2014, with cocoa to hit three-year highs, Commerzbank said, forecasting a waning performance by livestock futures.
Among the main grains and oilseed contracts, only Chicago corn will managed headway next year, boosted by the prospect of a drop in US sowings next year, as weak prices prompt farmers to seek alternative crops………………………………………..Full Article: Source

Investing in commodities: Rust-proof

Posted on 29 November 2013 by VRS  |  Email |Print

Grain silos, oil pipelines and copper smelters are not exactly glamorous. Yet for a glorious couple of years up until mid-2008, commodities were all the rage. China was booming, and supplies of everything from soyabeans to iron ore were failing to keep pace, prompting a giddy leap in prices.
Financial engineers minted all manner of products tied to these movements. Not only were commodities on a roll, their patter went; they also provided a crucial hedge for any diversified portfolio, since they did not move in tandem with other assets………………………………………..Full Article: Source

World grain demand, output may continue to rise in 2013-14

Posted on 29 November 2013 by VRS  |  Email |Print

Global food grain production in the year 2013-14 is expected to be higher, healthy and is likely to put pressure on commodity futures in the international market. Output of corn, rice and others is expected to go up in the current year, experts say.
World cereal production (including rice in milled equivalent) is expected to increase by 8% in 2013, to 2498 mn tons. This forecast is almost 10 mn tonnes higher than forecast in October, mostly reflecting upward adjustments to production estimates in Canada, China, EU, the United States and Ukraine, said Food and Agriculture Organization in its latest monthly FAO Cereal Supply and Demand Brief………………………………………..Full Article: Source

Demand growth seen up for agri, metals

Posted on 25 November 2013 by VRS  |  Email |Print

‘Will the Fed or won’t the Fed’ – the pendulum of uncertainty has kept swing in recent months. Last week was no different. Based on statements by high ranking Fed officials, observers have now begun to believe, tapering of the $ 85-billion a month asset purchase may begin by March 2014.
Of course, employment data would be a crucial driver of the decision to taper; but concerns over the bloating Fed balance sheet have also begun to mount. So, it is going to be tough call either way. On Wednesday, gold in London fell to $1,240 an ounce, just about 5 per cent above the low of $1,180 recorded towards end-June this year………………………………………..Full Article: Source

How to make the most of Asian food boom

Posted on 21 November 2013 by VRS  |  Email |Print

Let’s put Australia in perspective. According to data from the US Department of Agriculture and the Australian Bureau of Statistics, from 2010 to 2013 the entire annual Australian wheat crop of 24 million tonnes represented between 20 per cent and 25 per cent of China’s annual domestic consumption of 125 million tonnes. China is the world’s largest wheat producer and has been largely self-sufficient until this year.
Similarly, Australia’s total annual beef production of 21mt is less than 40 per cent of China’s annual domestic consumption of about 57mt and less than 20 per cent of the US annual domestic consumption of about 115mt…………………………………Full Article: Source

Commodities: A sweet deal

Posted on 15 November 2013 by VRS  |  Email |Print

The US government’s vast assets include office buildings, mineral resources, aircraft carriers and national parks. This year it added mountains of sugar.
Warehouses from North Dakota to Louisiana are piled high with 296,500 tons of the sweet crystal, since October 1 the property of the Department of Agriculture. In coming days, the agency says it plans to sell off its stocks at a “substantial loss per pound”. Sugar has cost taxpayers $278.2m in 2013………………………………………..Full Article: Source

Warsaw climate conference: No discussion on agriculture in ongoing session

Posted on 15 November 2013 by VRS  |  Email |Print

India and other developing countries have succeeded in ensuring that there will be no discussion on agriculture in the ongoing climate change negotiations in Warsaw, a development that could well prove a pyrrhic victory.
Discussion on ways to deal with the impact of climate change on agriculture, such as variations in rainfall and temperature, has now been pushed for talks scheduled for mid-2014. The discussions, which will be taken up by the United Nations’ climate changes technical committee,, will focus on adapting to climate change and emission reduction that such measures are likely to entail………………………………………..Full Article: Source

Saudi Arabia to target agro-investments abroad

Posted on 11 November 2013 by VRS  |  Email |Print

Saad Khalil, director of King Abdullah’s Initiative for Saudi Agricultural Investment Abroad, recently revealed that 35 countries have been targeted for agro-investment so far. Khalil said investments are available in these countries to produce basic and strategic commodities for food security for both the Kingdom and target countries.
“We still don’t have accurate information as to whether there has been growth or decline in the volumes of agro-investment abroad,” he added………………………………………..Full Article: Source

Don’t turn farmers into ‘climate smart’ carbon traders

Posted on 08 November 2013 by VRS  |  Email |Print

Farmers produce food, not carbon. Yet, if some of the governments and corporate lobbies negotiating at the UN climate change conference to be held in Warsaw from 11-22 November have their way, farmland could soon be considered as a carbon sink that polluting corporations can buy into to compensate for their harmful emissions.
”We are directly opposed to the carbon market approach to dealing with the climate crisis,” says Josie Riffaud of La Vía Campesina. “Turning our farmers’ fields into carbon sinks – the rights to which can be sold on the carbon market – will only lead us further away from what we see as the real solution: food sovereignty. The carbon in our farms is not for sale!”……………………………………….Full Article: Source

Floods to drought curbing China corn harvest: Commodities

Posted on 06 November 2013 by VRS  |  Email |Print

China’s corn harvest is poised to decline for the first time in four years after flooding in its biggest-producing province and drought in its fifth largest cut yields, easing a global glut as the U.S. reaps a record crop.
Output by the world’s second-biggest corn grower fell 3.2 percent to 199.1 million metric tons, according to SGS SA, which carried out 302 interviews in the seven largest growing areas during the harvest in September and October for Bloomberg………………………………………..Full Article: Source

Cotton prices fall on China concerns

Posted on 05 November 2013 by VRS  |  Email |Print

Cotton prices fell to the lowest level since January as investors and traders fretted that China is gearing up to release cotton from its stockpile, a move that would quickly ripple through the global cotton market.
Traders say they expect the state-owned company that controls China’s cotton reserve to sell some of its roughly 10 million-ton hoard by the end of the year. Chinese textile mills that spin raw cotton into yarn would be the likely buyers, curbing their need to import from farmers in the U.S., China’s top supplier………………………………………..Full Article: Source

Hedge funds at their most bullish on ags this year

Posted on 01 November 2013 by VRS  |  Email |Print

Hedge funds took their positioning on rising agricultural commodity prices to the highest in 10 months, encouraged by ideas of strong demand for US wheat exports, and a dent to Brazilian sugar output from rains.
Managed money, a proxy for speculators, lifted its net long on the top 13 US-traded agricultural commodities to 498,748 contracts as of October 15, Agrimoney.com analysis of data from the Commodity Futures Trading Commission shows…………………….Full Article: Source

Coffee price slides on Latin America supply

Posted on 25 October 2013 by VRS  |  Email |Print

Coffee prices tumbled to a four and a half year low as the market was hit by a continued flow of supplies from Latin America while the fall in the Brazilian real against the dollar encouraged selling by producers. Arabica coffee, the high-quality bean used in espressos and cappuccinos, has continued to plumb multiyear lows because of bumper crops in the past few years.
ICE arabica coffee for March delivery fell on Thursday to $1.1285 a pound, the lowest level since 2009, as Brazilian producers took advantage of the real’s decline against the dollar, locking in future sales prices………………………………………..Full Article: Source

Why investing in agriculture makes sense

Posted on 25 October 2013 by VRS  |  Email |Print

Recently, global commodities investor, Jim Rogers made headlines when he recommended agriculture as the best sector for investment. According to him there were many options in agriculture-related sectors including farmland, agriculture stocks, food companies, processing plants and companies that make tools, machines, tractors, fertilizers etc for farming.
Stock markets in India and across the globe have been moving without direction even as equity pundits and analysts continue to give confusing ‘buy’ and ‘sell’ calls on companies and stocks. In India, equity market is largely driven by a handful of star stocks, leaving millions of investors in permanent losses as their mid-cap or small-cap shares have refused to go up………………………………………..Full Article: Source

Overflowing Canada grain bins compound global glut: Commodities

Posted on 23 October 2013 by VRS  |  Email |Print

Canadian wheat and canola grower Mike Bast spent five years building silos to store 100,000 bushels on his 2,000-acre farm in La Salle, Manitoba. It wasn’t enough. He’s already dumping grain into his neighbor’s bins.
Harvests this year across the Prairie provinces of Canada, the world’s top canola producer and the second-largest exporter of wheat, will jump 14 percent to a record 80.8 million metric tons, the government said Oct. 16. ……………………………………….Full Article: Source

Goldman Sachs cuts Arabica Coffee price forecast by 7.7pct

Posted on 21 October 2013 by VRS  |  Email |Print

Goldman Sachs Group cut its price forecasts for Arabica coffee traded in New York by 7.7%, citing favourable weather and the biggest stockpiles of the variety favoured by Starbucks in five years.
The beans traded on the ICE Futures US exchange will be at $1.20 a pound in three, six and 12 months, the bank said in a report e-mailed on Friday. That’s down from last month’s forecast for $1.30 a pound. Arabica coffee futures fell 20% this year on signs of bigger harvests in leading producer Brazil and Colombia, the second-biggest grower of the variety………………………………………..Full Article: Source

Why the global grain trade will pick up as commodity prices fall

Posted on 17 October 2013 by VRS  |  Email |Print

The global grain and oilseed trade represents up to ~20% of total dry bulk shipments. These shipments primarily use Panamax vessels. When shipments rise, the shipments of global grain or oilseed rise, which increases demand for Panamax ships and has a positive impact on shipping rates.
Long-term shipping rates movements in turn have a significant impact on the performance of dry bulk shippers………………………………………..Full Article: Source

Record Thai rice hoard expanding global supply glut

Posted on 15 October 2013 by VRS  |  Email |Print

Rice stockpiles in Thailand, once the world’s biggest exporter, are expanding to a record as a government program to buy production spurs farmers to plant the most crops ever and add to a global glut.
Reserves in Thailand will increase 24 percent to 15.5 million metric tons in 2013-2014 as global output rises 1.7 percent to an all-time high of 476.8 million tons, the U.S. Department of Agriculture estimates………………………………………..Full Article: Source

Why agriculture must take centre stage at UN climate talks

Posted on 10 October 2013 by VRS  |  Email |Print

The world is facing unprecedented challenges from climate change and implications are particularly severe in the sphere of agriculture. The sector faces unpredictable and extreme weather patterns, which are having a devastating impact on the lives of farmers in developing countries and global food security.
Agriculture is one of the largest economic sectors in the world, particularly in developing countries - for example in sub-Saharan Africa as much as 60 percent of people depend on agriculture for their livelihoods………………………………………..Full Article: Source

Rabobank gloomy on farm commodities - except sugar

Posted on 03 October 2013 by VRS  |  Email |Print

Rabobank sounded a bearish note on agricultural commodities - except sugar - cutting price forecasts for many and, for wheat upgrading expectations, but to levels below the futures curve.
The bank cut its forecast for Chicago corn futures in the newly-started October-to-December quarter by up to $0.40 a bushel, warning that the grain faced “an increasingly bearish outlook” thanks to the extra US stocks uncovered in an official report on Monday, and from promising US harvest yields………………………………………..Full Article: Source

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