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soy beans posts

China Signs a Deal to Buy Soybeans from U.S. Companies

Posted Jan 21st 2011 11:00AM by Connie Madon (RSS feed)
Filed under: China, Archer-Daniels-Midland (ADM), Agriculture, Bunge Ltd. (BG)

Chinese Vice Minister of Commerce, Wang Chao, led a business delegation that signed agreements with grain companies to buy just over 3 million tons of soybeans from the U.S., Reuters reported. The U.S. trading companies involved in the $1.8 billion deal are Cargill, Archer Daniels Midland (ADM) and Bunge (BG). No details about price and delivery were given.

When dealing with state-run companies, there is a protocol that must be followed. In this case, a government official, Chao, was present to sign off the deal with the two state-run grain companies allowed to import agricultural products into China.

Continue reading China Signs a Deal to Buy Soybeans from U.S. Companies

Pricey Wheaties: Grain prices surging on emerging market demand

Posted Feb 14th 2008 4:00PM by Joseph Lazzaro (RSS feed)
Filed under: International Markets, China, Kellogg Co (K), Sara Lee Corp (SLE), General Mills (GIS), Commodities, Oil, Agriculture

First oil. Then copper, then lumber, and coal. And now grain.

The solid economic growth in the world's emerging markets that's caused oil / coal and commodities prices to surge is now fully hitting the grain market.

So much so, that some food producers are calling on the U.S. government to restrict exports due to soaring prices for grains they use to make cereal and other foods. Meanwhile, some farmers are asking the U.S. Government to ease restrictions to enable farmers to plant more acres, The Wall Street Journal reported Thursday [Subscription required].

For food producers, the issue involves limiting a major operating cost. During the past year, spring wheat has risen to an astounding $17.63 per bushel, up from about $4.90 a year ago. Flour, which used to cost about $15 per 100 pounds, now sells for about $45-48 per 100 pounds. Food producers say prices are increasing so fast, they can't pass along price increases quick enough to keep up.

Continue reading Pricey Wheaties: Grain prices surging on emerging market demand

Wheat tops $10 per bushel -- could cereal become too expensive?

Posted Dec 17th 2007 12:47PM by Joseph Lazzaro (RSS feed)
Filed under: Bad News, Brazil, Russia, Archer-Daniels-Midland (ADM), Kellogg Co (K), General Mills (GIS), Canada, Commodities

Wheat prices pushed above $10 per bushel Monday, as dry weather threatened crops in Argentina, adding to concerns regarding a potential wheat shortage, Bloomberg News reported Monday.

The bullish move in wheat sent other grains and oilseeds higher. Argentina, now experiencing summer, is a key supply of wheat for bread, pasta and livestock feed.

The price of wheat has more than doubled in the past year, with wheat climbing another 30 cents to $10.03 per bushel Monday morning. Soybeans gained 17 cents to $11.93 per bushel. Corn rose 5 cents to $4.43 per bushel.

Global growth

Economist Steve Affinito told BloggingStocks Monday that wheat's climb is part of a global trend of higher commodity prices, driven by emerging market economic growth.

Continue reading Wheat tops $10 per bushel -- could cereal become too expensive?