World Farming Agriculture and Commodity news - Short update -11th November 2024

World Farming Agriculture and Commodity news - Short update -11th November 2024

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France has stepped up its bird flu risk assessment to 'high' from 'moderate', it said on Friday in a decree that will trigger reinforced security measures around poultry farms, reported Reuters.  Highly pathogenic avian influenza, commonly called bird flu, has been spreading faster among poultry in the European Union this season than in 2023, raising concerns of a repeat of previous crises that led to poultry deaths in the tens of millions and fears it could lead to human-to-human transmission. The heightened risk status follows confirmation of infection in migratory wild birds in neighboring countries and aims to strengthen surveillance and prevention measures, the agriculture ministry said. The change in status will take effect on Saturday. The upgrade to risk status in the seasonal assessment is kicking in earlier than last year, taking effect in early November rather than December. France has reported eight bird flu outbreaks on farms since the summer and last month launched a second vaccination campaign among farm ducks after a successful programme last year. The British government said on Tuesday that cases of bird flu had been confirmed at premises in Yorkshire, hours after it increased the risk level of the disease to 'high'.

Centre-right lawmakers in the European Parliament have made proposals to further weaken the European Union's beleaguered law to ban commodity imports linked to deforestation, a document seen by Reuters showed. In its current form, the landmark law would from Dec. 30 require companies importing soy, beef, cocoa, coffee, palm oil, timber, rubber and related products to prove their supply chains did not contribute to the destruction of the world's forests, or face hefty fines. Companies exporting commodities from Europe would face the same obligations.Brussels announced plans last month to delay the law's implementation by a year, until Dec. 2025, after intense opposition from trade partners including the US, Brazil and Malaysia.EU lawmakers - who, alongside EU member countries, are in the process of approving the delay - now also want to weaken parts of the law.A document seen by Reuters showed lawmakers from the centre-right European People's Party have proposed postponing the law by a full two years, and exempting from its obligations certain countries the EU deems to have an insignificant risk of deforestation.Sources familiar with the discussions said this would likely exempt exporters based in EU countries from the law's obligations - a move that could further rile foreign countries that have slammed the EU policy as protectionist.EPP is the biggest group in the EU Parliament, and any proposals it makes to weaken green policies are likely to win support from hard-right and far-right lawmakers .EU lawmakers had been expected to quickly approve a delay to the law. But the push to make extra changes raises the prospect of more complex negotiations that may not be resolved before the end of this year - when, unless the delay is formally approved in the coming weeks, the law would immediately take effect.An EPP spokesperson did not immediately respond to a request for comment.The EU deforestation policy law had been hailed as a landmark in the fight against climate change. The destruction of forests is a major cause of CO2 emissions, because it releases much of the planet-heating carbon stored by trees.

Meanwhile, verticillium isn’t a huge issue in Alberta. There may be a simple reason for this geographic variation — soil pH. Researchers at the University of Alberta have learned that Verticillium longisporum, the fungus that causes verticillium stripe in canola, is more potent when soil is slightly alkaline. Lab testing found that fungal colonies were larger when the pH was between 7.4 and 8.6.

“Along with that, the symptoms of infection in both seedlings and adult plants generally became more pronounced as soil pH increased, with disease severity at its worst at pH 7.8,” says a U of Alberta news release about the discovery. A group of plant pathologists at the U of A, including Becky Wang, have published their findings in horticulturae, an academic journal. Verticillium stripe was first discovered in 2014 in Western Canada in a canola field near Winnipeg. The soil-borne disease infects canola plants and produces tiny, pepper-like sclerotia on or inside the stem. The infection interferes with the uptake of water and nutrients. Symptoms include early ripening, plant stunting and leaf chlorosis and shredding or striping of the stem tissue. The symptoms usually appear later in the growing season. Over the last decade, the fungal disease has become commonplace in Manitoba and eastern Saskatchewan. The geographic extent of verticillium is unknown, but it continues to spread westward.

Stam BV is a European subsidiary of the ITL Group, ITL is valued at $1.2 billion and has established itself as a formidable force in the global tractor industry since its inception in 1969. With India’s largest single integrated manufacturing plant, boasting an annual capacity of 300,000 tractors, ITL ranks among the top five tractor manufacturers globally, with a strong presence in over 150 countries, including a notable footprint in Europe. Yanmar is a renowned name in agricultural machinery established in 1912 in Japan, known for its precision engineering and technological advancements. With over 112 years of experience, Yanmar has built a solid reputation in Europe’s agriculture and landscaping sectors, offering premium tractors recognized for their efficiency and reliability.

World Farming Agriculture and Commodity news - Short update -04th November 2024

 Ghana, the world's number two cocoa producer, has raised the fixed farmgate price paid to cocoa farmers for the second time this 2024/25 season to help boost farmers' incomes, President Nana Akufo-Addo said. Akufo-Addo, whose two-term mandate ends on Jan. 7, 2025, said at a farmers' award ceremony late on Friday that cocoa farmers would now receive 49,600 Ghanaian cedi ($3,062) per metric ton compared with the 48,000 Ghanaian cedi announced when the season opened on Sept. 1. A cocoa marketing board (Cocobod) spokesperson said the increase had been introduced with immediate effect. Reports of a possible price hike led to farmers' hoarding beans in October, potentially squeezing global supplies. The authorities have been seeking to increase farmers' incomes and deter smuggling, which led to Ghana losing more than a third of its cocoa output for 2023/24, according to Cocobod officials. This compounded sectoral woes that brought Ghana's production to a more than two-decade low, helping send global cocoa prices to record highs.
Chicago Mercantile Exchange (CME) cattle futures firmed slightly on Thursday as stocks hit record highs on Wall Street for a second day, providing borrowed strength to the livestock markets, Reuters reported, citing analysts.Gains in equities often support cattle futures as a strong economy is generally linked to solid US demand for beef. The Fed lowered rates by 25 basis points, as expected."Demand, despite whatever concerns you might have about the consumer, seems to be quite good for beef," a broker said.CME December live cattle rose 0.425 cent to close at 185.825 cents per pound, while January feeder cattle futures advanced 0.3 cent to 244.325 cents per pound. Both contracts remained within Wednesday's trading ranges.Lean hog futures also stayed inside the previous day's range but ended slightly weaker. CME December hog futures finished down 0.925 cent at 81.200 cents per pound.The hog market has pulled back after soaring to contract highs last week on smaller-than-expected US supplies, traders said. Recent rallies in belly prices due to strong demand also helped support hog futures recently.But the wholesale pork carcass cutout value slid on Thursday, led by a steep $17.05 per cwt decline in pork bellies, according to US Department of Agriculture data. Ham values dropped by almost $5 per cwt.The USDA reported weekly net cancellations of US pork export sales at 14,700 metric tons for 2024, a marketing-year low. Weekly U.S. beef export sales were 8,000 metric tons, also a marketing-year low, according to USDA.

Commodities November 10

Commodities Top Performers

Cocoa 6.29% 5,833.00 GBP
EEX Strompreis Phelix DE 2.71% 100.53 EUR
Palm Oil 2.42% 5,160.00 MYR
Coal 1.05% 119.75 USD
Soybean Oil 0.93% 0.49 USD

Commodity Prices

Precious Metals Price % +/- Unit Date
Gold
2,683.89
0.00%
0.00
USD per Troy Ounce
11/9/2024
Palladium
992.00
-2.70%
-27.50
USD per Troy Ounce
11/8/2024
Platinum
971.50
-2.07%
-20.50
USD per Troy Ounce
11/8/2024
Silver
31.30
-2.40%
-0.77
USD per Troy Ounce
11/8/2024
Energy Price % +/- Unit Date
Natural Gas (Henry Hub)
2.67
-1.19%
-0.03
USD per MMBtu
11/8/2024
Ethanol
2.16
0.05%
0.00
per Gallon
11/8/2024
Heating Oil
59.17
-2.18%
-1.32
USD per 100 Liter
11/8/2024
Coal
119.75
1.05%
1.25
per Ton
11/8/2024
RBOB Gasoline
2.01
-1.80%
-0.04
per Gallone
11/8/2024
Uranium
76.50
-0.13%
-0.10
per 250 Pfund U308
11/8/2024
Oil (Brent)
73.90
-2.21%
-1.67
USD per Barrel
11/8/2024
Oil (WTI)
70.43
-2.45%
-1.77
USD per Barrel
11/8/2024
Industrial Metals Price % +/- Unit Date
Aluminium
2,620.25
-2.75%
-74.10
USD per Ton
11/8/2024
Lead
1,996.35
-0.32%
-6.50
USD per Ton
11/8/2024
Iron Ore
103.82
-1.35%
-1.40
per Dry Metric Ton
11/8/2024
Copper
9,302.45
-2.36%
-224.49
USD per Ton
11/8/2024
Nickel
16,102.50
-0.94%
-152.50
USD per Ton
11/8/2024
Zinc
2,955.60
-3.15%
-96.10
USD per Ton
11/8/2024
Tin
31,546.00
-0.19%
-61.00
USD per Ton
11/8/2024
Agriculture Price % +/- Unit Date
Cotton
0.71
-0.10%
0.00
USc per lb.
11/8/2024
Oats
3.63
-5.84%
-0.23
USc per Bushel
11/8/2024
Lumber
558.00
-1.24%
-7.00
per 1.000 board feet
11/8/2024
Coffee
2.54
-1.87%
-0.05
USc per lb.
11/8/2024
Cocoa
5,833.00
6.29%
345.00
GBP per Ton
11/7/2024
Live Cattle
1.84
-1.20%
-0.02
USD per lb.
11/8/2024
Lean Hog
0.81
-0.98%
-0.01
USc per lb.
11/8/2024
Corn
4.31
0.70%
0.03
USc per Bushel
11/8/2024
Feeder Cattle
2.45
-0.92%
-0.02
USc per lb.
11/8/2024
Milk
20.03
-0.55%
-0.11
USD per cwt.sh.
11/8/2024
Orange Juice
4.73
-9.12%
-0.47
USc per lb.
11/8/2024
Palm Oil
5,160.00
2.42%
122.00
Ringgit per Ton
11/8/2024
Rapeseed
536.75
0.56%
3.00
EUR per Ton
11/8/2024
Rice
14.63
-1.48%
-0.22
per cwt.
11/5/2024
Soybean Meal
297.00
-0.83%
-2.50
USD per Ton
11/8/2024
Soybeans
10.17
0.12%
0.01
USc per Bushel
11/8/2024
Soybean Oil
0.49
0.93%
0.00
USD per lb.
11/8/2024
Wheat
215.25
-0.12%
-0.25
USc per Ton
11/8/2024
Sugar
0.22
-2.11%
0.00
USc per lb.
11/8/2024