Latest news with #MichaelHogan
Zawya
15-05-2025
- Business
- Zawya
Saudi Arabia issues tender to buy 655,000 metric tons of wheat, GFSA says
Saudi Arabia has issued a tender to buy 655,000 metric tons of wheat for the August to October 2025 shipment period, the General Food Security Authority (GFSA) said on Thursday. The deadline for submissions of price offers is Friday, May 16, and the results are expected on Monday, May 19, European traders said. Some 11 consignments of 12.5% protein wheat are sought to be sourced from optional origins, according to a tender the agency sent traders. The shipments will be distributed to different ports, with 240,000 tons to Jeddah for arrival between August 15 and October 15. About 240,000 tons was for shipment to Yanbu also for arrival between August 15 and October 15, 120,000 tons to Dammam for arrival between August 15 and September 30 and another 55,000 tons to Jizan for arrival in the first half of October, traders said. (Reporting by Ahmed Elimam and Michael Hogan; Editing by Jan Harvey and Savio D'Souza)
Yahoo
09-05-2025
- Business
- Yahoo
Exclusive-China buys Canadian, Australian wheat as heat hits crop, traders say
By Michael Hogan, Peter Hobson and Gus Trompiz HAMBURG/CANBERRA/PARIS (Reuters) -Chinese buyers bought between 400,000 and 500,000 metric tons of wheat from Australia and Canada in recent weeks, traders said, as heat threatens to damage crops in China's agricultural heartlands. China is the world's top wheat grower and also imports large amounts of grain when domestic supply falls short of demand. Earlier this week, Henan province, which grows about a third of China's crop, issued a risk warning as hot, dry weather threatened the wheat growing in its fields. Chinese buyers have purchased four or five 55,000-ton shipments of wheat from Australia for delivery in July or August and around 200,000 tons from Canada, sources at two major trading firms in Australia said. The wheat is of milling quality. The bookings from Australia were the first made by China from the country since last year, said one of the traders. COFCO, the state-owned Chinese firm that handles most of the country's wheat imports, did not immediately respond to a request for comment. China has in recent years been one of the world's biggest wheat importers, buying in around 11 million tons worth $3.5 billion in 2024. Australia and Canada are typically its biggest suppliers. But shipments slowed sharply after China reaped large wheat and corn harvests last year and have since remained low. China delayed or redirected shipments from Australia earlier this year and imported less than a million tons of wheat in the seven months to March 31, Chinese customs data accessed through Trade Data Monitor show. One of the sources said their company had lowered its forecast of Chinese 2025 wheat production by around 5 million tons but there was no guarantee that more purchases would follow because China has large wheat inventories. "China is well self-sufficient in feed grains this crop year with heavy stocks," said Rod Baker, an analyst at Australian Crop Forecasters in Perth, adding that faltering economic growth in China was also depressing demand for grains. Talk of Canadian wheat sales to China has echoed around agricultural business circles in Winnipeg, Canada's grain industry capital, according to traders. Few concrete details on the sales have emerged. Chinese buyers would have avoided buying U.S. wheat due to tariffs and the trade war between Washington and Beijing, one trader said. China in the past has been a top destination for U.S. wheat sales. The drop-off in Chinese imports earlier in the current 2024/25 season had contributed to subdued international wheat prices, with benchmark futures in Chicago still near a four-year low touched last July. Along with weather risks to China's upcoming harvest, attractive prices may have lured Chinese importers back into the market as the 2025/26 season approaches, traders said. BARLEY Chinese importers also booked a large amount of barley, according to traders. Some said that six panamax bulk carriers carrying around 360,000 tons of French or Ukrainian new-crop barley had been sold for delivery in July or August, with others putting the volume much higher at around 1 million tons, also for shipment this summer. "Chinese wheat and barley import buying has been very quiet in the past year and these are the first major deals I have seen in many months," a German trader said. Feed barley purchases with optional origin were from Ukraine or France. The deals were done at a price of around $250-$254 a tonne delivered to China, one trader said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
28-04-2025
- Business
- Mint
Grains and soybeans fall on U.S.-China trade talks confusion
Grains, soybeans down on U.S.-China trade talks uncertainty Welcome rain forecast in U.S. also weakens wheat By Naveen Thukral and Michael Hogan SINGORE/HAMBURG, - Chicago soybeans, wheat and corn fell on Monday as confusion about the status of talks to end the U.S.-China trade war weighed. Forecasts of welcome rain in U.S. grain belts also weakened wheat. "There is no clarity on U.S.-China trade talks," said one trader in Singapore. "As of now, soybeans coming from the U.S. to China will attract tariffs." Chicago Board of Trade most-active soybeans fell 0.4% to $10.54-1/4 a bushel, at 1106 GMT. Corn fell 0.9% to $4.80-1/4 a bushel, wheat fell 1.5% to $5.36-3/4 a bushel. "It does not look like a quick breakthrough in the U.S./China trade dispute is on the cards," one German trader said. "There are conflicting statements at the top level." U.S. Treasury Secretary Scott Bessent said on Sunday he has not discussed tariffs with Chinese officials and doesn't know if President Donald Trump had talked to his Chinese counterpart Xi Jinping. Last week, Trump said talks on tariffs were taking place with China and that he and Xi have spoken. Beijing has denied that trade talks are occurring. News last week that China has exempted some U.S. goods from its tariffs sparked hopes for a de-escalation. However, U.S. soybean and grain exports to China look like they will be stopped by Chinese tariffs for the foreseeable future, traders say. "Forecasts are showing rain in the U.S. Plains in the next week, which will be good for wheat," the German trader said. "Meanwhile, Russian wheat exports are picking up despite cheap U.S. prices, this competition is not welcome for U.S. and west European exporters." Meanwhile, U.S. soybean and corn plantings are also believed to be making good progress with rain not enough to disrupt work, traders said. Russia's April wheat exports will reach 2.2 million metric tons, up from 1.9 million tons in March. This article was generated from an automated news agency feed without modifications to text. First Published: 28 Apr 2025, 05:08 PM IST
Zawya
17-04-2025
- Business
- Zawya
Jordan tenders to buy up to 120,000 T of feed barley, traders say
HAMBURG - Jordan's state grains buyer has issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said on Thursday. The deadline for submission of price offers in the tender is April 23. A new announcement had been expected by traders after Jordan made no purchase in its previous tender for 120,000 tons of barley on Wednesday. Shipment in the new tender is sought in a series of possible combinations in 50,000 to 60,000 ton consignments on August 1-15, August 16-31, September 1-15 and September 15-30. A separate tender from Jordan to buy 120,000 tons of milling wheat closes on April 22. (Reporting by Michael Hogan; Editing by Jan Harvey)
Yahoo
09-04-2025
- Business
- Yahoo
EU tariffs to curb US corn imports, soy at lower risk for now
By Sybille de La Hamaide and Michael Hogan PARIS/HAMBURG (Reuters) - European Union counter-tariffs on U.S. goods starting next week are set to halt a large flow of U.S. corn to Europe and raise costs for buyers chasing alternative supplies of the feed grain, traders and industry representatives said. Grain market reaction has been restrained so far with traders unsure if a barrage of tariffs, including tit-for-tat U.S. and Chinese duties, will stay in place or be removed following negotiations. The EU will impose a 25% duty on corn (maize) from April 15 in response to U.S. steel and aluminium tariffs. U.S. soybeans, which the EU imports in much bigger volumes than corn, will be subject to tariffs from December 1. European countries mainly use corn to feed cattle, poultry and pigs. The retaliatory measures, approved by EU countries on Wednesday, will price U.S. corn out of European markets where buyers have scooped up abundant and cheap U.S. supplies this season. Between July 1, 2024, and April 6, 2025, the EU imported 3.4 million metric tons of U.S. corn, up from just 114,000 tons a year earlier as the United States leapfrogged Brazil to become the EU's No. 2 supplier behind Ukraine. EU importers will still be able to find supplies in Ukraine and Brazil. But prices there are currently higher than in the United States and could rise further until Brazil's next crop arrives starting in July. 'I think corn tariffs is a cost story rather than a supply problem. There are alternative supplies in the Black Sea and South America but I calculate at least $6-$7 a ton additional costs for corn importers,' one European trader said. European feed industry association FEFAC has warned that tariffs on feed ingredients could add some 2 billion euros in costs, calling instead for the EU to use its import requirements as a way to expand trade with the U.S. Spain has led EU imports of U.S. corn this season, including a new purchase of 240,000 tons announced by the U.S. government on Tuesday. There was relief that some feed products such as soymeal have not been put on the EU tariff list, said Stephane Radet, director general of French feed industry association SNIA. But the sector is concerned that feed additive lysine has been included, with separate EU anti-dumping tariffs on Chinese lysine raising the prospect of rising prices, he said. The proposed EU duty on U.S. soybeans is potentially a bigger issue, as the U.S. is the EU's largest supplier at over 5 million tons annually. But the deferred December 1 date for the soybean duty is seen by traders as leaving time for trade talks and letting EU importers continue buying U.S. beans while No. 1 importer China focuses on Brazilian supplies. Sign in to access your portfolio
