October 28, 2015

28/10/2015: More soyatech news

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Image: Stefanie Seskin
China to lift ten-year ban on construction of corn ethanol plants
After a decade-long ban, China will resume the production of corn ethanol to help use its massive corn reserves and cut pollution.


Soybean developer, Bioceres, to be first Argentine IPO in 15 months
Bioceres SA is poised to sell US$80.5M in shares and be the first IPO on the New York Stock Exchange out of Argentina in 15 months.
  
Syngenta signs 20-year, US$200 million licensing agreement
Syngenta announced it has signed a 20-year, US$200 million agreement to expand its licensing agreements with KWS and Limagrain along with their joint ventures, AgReliant and Genective.

Asian mills to turn to Ukraine as rains delay Brazilian grain shipments
As heavy rains delay grain shipments from Brazil, Asian buyers may turn to Ukraine and the US for supplies.

     
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Image: Norm

We have heard:

  • Purdue Extension economist Chris Hurt stated that corn and soybean losses in Indiana from flooding that he once estimated at US$500 million will actually be close to US$200 million. The latest US Department of Agriculture (USDA) estimates shows statewide soybean yields at 51 bushels per acre –above the 50 bushels per acre expected in normal weather conditions and the state’s corn yields are expected to average 156 bushels per acre – approximately 20 bushels per acre lower than normal.
  • In its latest crop progress report issued on October 9, the US Department of Agriculture (USDA) estimated that South Dakota will see a record soybean crop this season, harvesting 235 million bushels – up 2 percent over last year. The report also estimates that the state will harvest 797 million bushels of corn – up 1 percent over last year. South Dakota’s sorghum production is estimated at 16.4 million bushels, up 73 percent over last year.
  • Following large overseas purchases, India, the world's second-biggest wheat producer, imposed an import duty of 10 percent on wheat from August 2015 until March 31, 2016, but government sources told Reuters that the country is considering raising the import tax from 10 percent to 25 percent to reduce cheaper imports from France and Australia.
  • Brazil is expected to produce 100 million tons of soybeans for the first time in recorded history in 2015/16, according to the latest US Department of Agriculture (USDA) crop progress report. Planted area in the country is forecast to increase by 3.7 percent to a record 33.3 million hectares – 1.2 million hectares over last year’s acreage.

The Global Miller
This blog is maintained by The Global Miller staff and is supported by the magazine GFMT
which is published by Perendale Publishers Limited.


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