Bunge to close soybean crushing facility in Argentina with 60 possible layoffs

USA – The US grains merchant Bunge Limited is considering the closure of a soybean crushing plant in Buenos Aires Province putting about 60 jobs at risk, reported Reuters citing information from union of employees of soy crushing plants in Argentina. The union of employees representing Argentina’s soy crushing plants said that Bunge had informed its workers on the decision earlier in the week though they are yet to be sent home officially. In its fourth quarter results, Bunge said it was changing its portfolio to focus on core areas…

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South Africa soya beans unlikely to be affected by US-China trade war

SOUTH AFRICA – Following China’s response tariffs on US goods including soya beans, there could be possibility of price shocks on the commodity, but an agricultural economist, Wandile Sihlobo has said that this should be cushioned by the ability to substitute yellow maize in feed stock. An article in the Business Day reported that despite of the disruption in the global soya bean market, the outlook for South African consumers remains positive. It indicated that the tariff war was also unlikely to derail rapidly growing local production in the near…

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ADM and Cargill successfully complete the soybean joint venture in Egypt

EGYPT – Archer Daniels Midland Company and Cargill have successfully completed their transaction and formally launched SoyVenTM their new joint venture to provide soybean meal and oil for customers in Egypt. According to the company, SoyVen owns and operates the National Vegetable Oil Company soy crush facility in Borg Al-Arab, along with related commercial and functional activities, including a separate Switzerland-based entity supplying soybeans to the Egypt crush plant. The plant’s daily crush capacity has been doubled to 6,000 metric tons in order to meet increasing Egyptian demand for higher-protein…

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China’s growing protein meal demand will continue to drive soybean imports

CHINA – China’s oilseed consumption continues to grow, driving demand for increased oilseed imports and government support to expand oilseed production, according to GAIN. According to GAIN reports, the total oilseed consumption for 2018/19 is to reach 164.3 million metric tons (MMT) based on the continued growth of the animal husbandry industry’s demand for protein meal. In order to meet this demand, post forecasts soybean imports to increase to 100.5 MMT in 2018/19. Driven by the steady growth of the animal husbandry industry, which is transitioning towards large-scale production models,…

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USA and China trade war intensifies with new tariffs on soybeans and technology

USA – The United States has threatened to impose a 25% tariff on products with ‘industrially significant technologies’ from China while the latter has promised retaliatory measures on 100 types US goods including 25% tariff on soybean. The new measures were announced by US President Donald Trump on June 14 prompting a haste response from China, escalating trade war between the two global nations. Other US goods that will be affected by the tariffs include cars, alcohol and tobacco, whose worth value was US$50 billion last year, according to Aljazeera.…

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Brazil to rank as world’s largest soy producer in 2018 ahead of US

BRAZIL – Brazil is set to top the list of the world’s largest soybeans producer with production estimated at 117 million tonnes, beating the United States which has been on the top rank for a long time in history, according to Abiove, the oilseeds crusher group. Abiove’s report indicates that the US is expected to harvest 116.48 million tonnes of soybeans later in 2018, citing information from United States Department of Agriculture figures released recently. Improved production in Brazil is attributable to logistical improvements, gains from planting second corn as…

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Seed Co Zimbabwe invests in improving farmer soyabean yields

ZIMBABWE – Seed Co Zimbabwe has unveiled the Eleven Tonne Plus Club Promotion, a programme targeting commercial farmers for soybean, maize and other seeds in a bid to boost food security. The programme is set to benefit farmers with at least 10 hectares of the firm’s seed varieties grown during the 2017/18 season. Along with it, Seed Co is rolling out the Soyabean Five Tonne Club targeting commercial farmers with at least 20 hectares of certified Seed Co soyabean varieties. These are some of the productivity enhancing initiatives the company…

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Ukraine soybean production to fall 14% in 2018-19

UKRAINE – Ukraine’s soybean production is set to fall 14% to 3.3 million tonnes despite higher expected yields than the five-year average, according to USDA’s Global Agricultural Information Network (GAIN) May 16 report. Soybean planted area for the coming crop year is forecast at around 1.5 million hectares, a 23% decline from 2017-18. While Sunflower and rapeseed planted areas are projected to increase for MY2018/19, soybean seed area will likely shrink due to recent changes in domestic tax policy. The USDA forecasts sunflower seed production in 2018-19 at 15.6 million…

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Bunge considers soybean exports to Argentina

USA – Bunge Ltd, multinational food and agribusiness company is considering exporting US soybeans to Argentina and the move would be ratified depending on the margins. The plans were revealed by Soren W. Schroder, chief executive officer of Bunge at an investor event in New York adding that they look forward to bumping up soybean supply in Brazil and Argentina. He said that there could be periods of time in the late summer and fall of this year when there are some trade flows of U.S. soybeans to South America.…

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South Africa’s oilseed production set to hit a record high of 2.4m tonnes

SOUTH AFRICA – South Africa’s oilseeds production is forecast to hit a record high of 2.4m tonnes with increased utilization of soybeans and sunflower seeds likely to affect oilseed meal imports that could drop by 14% to 480,000 tons. This is particularly driven by increased soybean plantings, with post forecasts by USDA that a record area of 1.6 million hectares will be planted with oilseeds in South Africa later in 2018. USDA postulates that corn producers will likely cut 10% of planted area and switch to oilseeds as a result…

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