Agriculture

Agriculture
Sunday, June 28th 2015 - 10:22 UTC

Argentina's economy picks up 1.1% during first quarter compared to a year ago

Argentina announced that this agriculture year it will reach a record harvest of 116 million tons with soybeans making over half of the total

Argentina's GDP increased 1.1% during the first three months of 2015 compared to the same period last year, boosted by the domestic market and growths in the agricultural and construction sectors, the official Indec statistics bureau has revealed. This is the second quarter running that records an advance, following a drop in last year's third quarter.

Friday, June 5th 2015 - 10:17 UTC

FAO's Food Price Index in May was down 20.7% from a year ago

FAO upgraded its May 2015 forecast for global production of wheat, coarse grains and rice, anticipating bigger maize harvests in China and Mexico

Major food commodity prices declined again in May, hitting an almost six-year low as cereal prices fell substantially amid a favorable outlook for this year's harvests. The FAO Food Price Index averaged 166.8 points in May, down 1.4% from April and as much as 20.7% from a year earlier.

Monday, June 1st 2015 - 07:42 UTC

Argentina's soybean crop forecasted to be comfortably above 60m tons

 “So far the average yield stands at 3.300 kilos per hectare, we can thus estimate the current total harvest at 57.4 million tons”, said the Cereals chamber.

Surprising Argentina: with over 90% of the soybean crop harvested, (approximately 17.2 million hectares), the Buenos Aires Cereals Stock exchange has again risen the total 2014/15 crop estimate to over 60 million tons.

Monday, June 1st 2015 - 07:25 UTC

Argentine oil-crushing industry unions back to work after 26-day strike

Workers accepted a 27.8% salary increase as of April first and with 'attendance' clause could reach the original 36% demanded

Argentine oil crushing industry workers reached over the weekend a much disputed salary agreement, ending a 26 day strike, and hopefully resuming activities which have paralyzed the Rosario cereals and oilseeds stock market and forced a queue of over 140 vessels and barges along the Paraná river.

Friday, May 29th 2015 - 09:05 UTC

Oil crushers strike in Argentina on 25th day; 100 vessels delayed waiting to load

Rosario is responsible for shipping 70% of Argentina's oil seeds and grains and the current industrial conflict has over 100 vessels delayed

The head of an Argentine soy crushers' union expressed optimism on Thursday that a salary agreement was near and would end the strike, which has affected the key Rosario soy market.

Thursday, May 28th 2015 - 06:24 UTC

Libor rate rigging trial reveals “scratch my back, I'll scratch yours” dealings among traders

In one of the electronic conversations submitted to the jury, Hayes is allegedly discussing manipulating the Libor rate with Will Hall, a trader at RBS (Pic AP)

The trader at the centre of the Libor rate-rigging trial tried to influence other banks to manipulate the key benchmark rate to suit his own trading positions, a jury at Southwark Crown Court has heard. Tom Hayes allegedly told one trader that he had managed to keep the three-month Libor rate “artificially high”.

Wednesday, May 27th 2015 - 04:59 UTC

Argentine economic activity up 2% in March, but industrial production down

The economy's performance was pushed by higher agricultural production among other factors, (excellent soy and corn crops), and consumer purchases

Good and bad news for Argentina's economy: the latest figures from the National Statistics and Census Institute (INDEC) reveal that economic activity increased 2% percent in March, compared to the same month last year, but industrial production recorded its 21st negative consecutive month in April.

Saturday, May 23rd 2015 - 06:06 UTC

Argentina's soy market paralyzed by oilseed crushers union three weeks strike

The union organized pickets along the main highway leading to the port of Rosario which ships almost 80% of Argentina's grains and oilseeds.

The soy market in Argentina's pivotal grains hub was virtually paralyzed for the fifth day on Friday as most exporters refrained from purchases in a bid to pressure the government to resolve a nearly three-week long strike among crushing workers.

Thursday, May 7th 2015 - 05:22 UTC

US for third year running main wheat supplier for Brazil displacing Argentina

Argentina is expected to have a surface reduction of 10%. Uruguay, a drop of nearly 17%; Paraguay 10% and Brazil anywhere from 10% to 20%.

For a third year in a row the United States will be the top wheat supplier for Brazil, displacing Argentina from its historic position, according to the latest release from Brazilian consultancy Trigo & Farinhas. This piece of information is significant given the world prices for grains and wheat planting prospects in South America.

Monday, May 4th 2015 - 14:16 UTC

Avian flu in the US: third state declares state of emergency

Iowa, the top egg-producing state in the United States, which could lead to the extermination of up to 21 million chickens and turkeys

State of Iowa Governor Terry Branstad declared a state of emergency due to a rapidly expanding avian flu outbreak, saying the entire state was at risk from the spread of the disease.

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