Fear of imports and the inability to sell the stocks purchased by Food Corporation of India (FCI) led GOI to announce another 10 percent increase in the wheat import duty. A 15 percent tariff was imposed in August 2015 as flour millers in southern India had started importing wheat from Australia.
Cotton Prices Stable, but Market Panics For cotton’s MY 2014/15 (ending 30 September), the Cotton Corporation of India (CCI) purchased 8.7 million bales, 21 times more than the 400,000 bales in MY 2013/14. Experts estimate that the CCI will need to buy at least 12 million bales in MY 2015/16, although there is no fixed target yet. The increase in CCI’s purchases is being attributed to a drop in those by the biggest importer,...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
