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The oil market is headed into a troubled year in 2025, and crude prices may fall "much, much" lower, according to Tom Kloza, global head of energy analysis at Oil Price Information Service. The oil analyst said crude prices would experience more downward pressure in 2025 despite concerns that conflict in the Middle East could escalate and send prices higher. Estimates from other energy forecasters, who have predicted that oil prices could trade as low as $50 a barrel, a decline of about 37% from where Brent crude was trading on Thursday.
Namibia has resumed imports of live poultry and birds from South Africa, Reuters reported, citing a statement from the agriculture ministry. Namibia banned imports of live poultry, birds and poultry products from neighbouring South Africa in September 2023, following an outbreak of highly pathogenic avian influenza in the country. Namibia consumes an estimated 2,500 metric tons of chicken every month, typically relying on imports mainly from South Africa. The ministry also said it had suspended imports of live birds and uncooked poultry products from Brazil's Rio Grande do Sul state following an outbreak of the avian Newcastle disease.
Russia has been stepping up its attacks on Ukrainian grain ships and ports. It recently shelled the Port of Odesa, killing one person and injuring eight others. “The enemy is once again attacking civilian vessels, grain storage facilities and terminals,” Andril Dykun, chair of the Ukrainian Agri Council, said in a news release. The group claims Russia’s goal is to jeopardize food security, destroy Ukraine’s economy and remove Ukraine’s agricultural products from the world market, replacing them with Russian products. The ship was carrying 45 containers of packaged sunflower oil, which was humanitarian aid ordered by the United Nations to be delivered to Palestine.
More US wine and spirits brands are choosing a bold go-to-market strategy: national alignment. Enabled by consolidation, fueled by competition between the largest wholesalers, and pushed even further by suppliers aggressively negotiating for and prioritizing favorable contracts, large suppliers are agreeing to work exclusively with one large distributor across that distributor’s entire footprint. Signing a national agreement is rarely the optimal decision for smaller brands, but for big brands, whether to align with a large wholesaler and how to maximize the benefits of that partnership are the most important go-to-market decisions they face. Unfortunately, the secrecy and sensitivity surrounding this topic means there are almost no resources to help suppliers navigate this critical issue. To fill this gap, we are writing a three-part series on national agreements. Thus far, we have spoken to more than a dozen distributors, retailers, consultants, and suppliers to sort through the complicated strategic questions surrounding national agreements and offer best practices for brands confronting this high-stakes component of their go-to-market strategy.
The productivity and performance benefits of new heavy-duty suspension developed for 2025 Case IH Quadtrac flagship tractors have been recognised with an EIMA International 2024 Technical Innovation award from an international industry expert judging panel. The heavy-duty suspension is designed from the ground up for 715+ rated horsepower, as available on the recently-introduced Quadtrac 715. The system is completely mechanical and hydraulically-cushioned, with no additional sensors or wiring. Independently suspended idler and mid-roller wheels in the undercarriage provide a 42% reduction in vertical acceleration at the operator seat during road travel. Featuring independent double axis suspension, the mid-rollers fully follow ground contours, permitting higher field travel speeds in rough field conditions to ensure high workrates and the desired results from implements.
World Farming Agriculture and Commodity news - Short update - 14 October 2024
The Agbiz/IDC Agribusiness Confidence Index (ACI) recovered by 10 points to 48 in the third quarter of 2024 (Q3-2024), following a 2-point decline in Q2-2024 to 38. While the improvement in the ACI to 48 points is encouraging, it remains below the neutral 50-point mark, implying that South African agribusinesses remain somewhat cautious about agribusiness conditions. Nonetheless, this most recent improvement in the ACI indicates some improvement in business sentiment across the agricultural sector. Several factors underpinned this improvement in sentiment, namely, the improvement in the energy availability factor in the country and the GNU which seems to have reached its norming stage. With the 2024/25 summer crop production season having kicked-off in the eastern production regions, it is worth noting that the terms of trade (the extent to which producer prices cover the cost of inputs) are expected to be better than in the previous summer crop production season. Weather forecasts predicting the return of La Niña at 60% chance have also boosted agricultural morale.
In the US, consumer spending at convenience stores (c-stores) that offer fresh foods and beverages is increasing. These enhanced c-stores, often housed in upgraded and larger locations with dine-in options, now account for 58% of all spending at c-stores, up from 48% five years ago. Data indicates that c-stores offering a broader range of fresh food options have experienced higher traffic growth compared to traditional c-stores and even quick-service restaurants (QSRs).In the US, c-stores are closely associated with fueling needs, with approximately 80% of c-stores also selling gas. These stores account for an estimated 80% of all gas purchased in the country. This report will focus on the majority of c-stores that are adjacent to gas stations, excluding most street-facing stores and those located in malls and airports.
The wheat price averaged R5 980/ton, up by 0.12% w/w but down by 3.6% y/y. • The wheat prices were supported by the weaker rand. • In week-02 of the new 2024/25 MY, cumulative wheat deliveries were at 2 968 tons. • In the same week, cumulative wheat imports stood at 60 262 tons, with the 60 262 tons coming from Lithuania.
The soya bean price averaged R8 478/ton, down by 2.4% w/w and by 8.1% y/y. The sunflower seed price averaged R9 910/ton, up by 1.2% w/w and by 15% y/y. • The domestic oilseed prices traded mixed from the influence of a weaker rand and sluggish Chicago soya bean prices that only recovered towards the end of the week. • Chicago soya bean contracts bounced back yesterday following weakness in the previous sessions due to harvesting pressure in the US and market participants awaiting the policy direction from a new president in three weeks. • Cumulative domestic oilseed deliveries by week-33 of the 2024/25 MY stood at 1.739 million tons of soya bean and 623 386 tons of sunflower seed.