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Sybille de La Hamaide

Luxury food industry turns sour amid global coronavirus lockdowns

12 Jun 2020

SINGAPORE/TOKYO/PARIS Global demand for premium foods like wagyu beef, bluefin tuna and caviar has plunged with thousands of restaurants shuttered and many economies sliding into recession amid the coronavirus pandemic. | Video

Luxury food industry turns sour amid global coronavirus lockdowns

12 Jun 2020

SINGAPORE/TOKYO/PARIS Global demand for premium foods like wagyu beef, bluefin tuna and caviar has plunged with thousands of restaurants shuttered and many economies sliding into recession amid the coronavirus pandemic. | Video

RPT-Luxury food industry turns sour amid global coronavirus lockdowns

12 Jun 2020

SINGAPORE/TOKYO/PARIS, June 12 Global demand for premium foods like wagyu beef, bluefin tuna and caviar has plunged with thousands of restaurants shuttered and many economies sliding into recession amid the coronavirus pandemic.

GRAINS-Soybeans gain on China demand, corn edges lower

10 Jun 2020

* Chinese purchases underpin Chicago soybean futures * Improved U.S. rating lifts expectations for bumper crop * Wheat pressured by higher Australian crop forecast (Updates prices, adds details throughout) By Naveen Thukral and Sybille de La Hamaide SINGAPORE/PARIS, June 10 Chicago soybeans rose on Wednesday, supported by solid demand from the world's biggest importer China, while corn ticked lower on good crop conditions. Wheat turned higher after falling for three consecutive sessions, but remained capped by expectations of higher Australian output and ample world supplies. "China is key to soybean prices for now as they are buying U.S. beans," said Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney. The most-active soybean contract on the Chicago Board Of Trade (CBOT) was 0.35% higher at $8.66-1/4 a bushel by 1030 GMT. Corn slipped 0.3% to $3.26-1/2 a bushel, while wheat gained 0.7% to $5.08-1/4 a bushel. China's state-owned trader Sinograin bought at least 120,000 tonnes of U.S. soybeans for shipment in December from U.S. Pacific Northwest ports, two U.S. traders familiar with the deals said. The U.S. Department of Agriculture's (USDA) weekly crop conditions report, issued after the market close on Monday, rated 75% of the U.S. corn crop as "good to excellent", up from 74% last week and aligned with average analyst estimates in a Reuters poll. For soybeans, the USDA rated 72% of the crop as "good to excellent", up from 70% last week, and 82% of U.S. spring wheat as "good to excellent", above analyst expectations of 80%. Wheat was supported by good international demand, with Egypt back in the market to buy an unspecified amount from global suppliers for shipment from July 12-22. This is the second time Egypt's General Authority for Supply Commodities (GASC) has tendered for wheat in less than two weeks. On June 2 it bought 120,000 tonnes of Ukrainian wheat for July 10-25 shipment. In Europe, farm office FranceAgriMer increased its forecast for French soft wheat exports outside the European Union this season to 13.45 million tonnes from the 13.3 million estimated last month. CBOT wheat prices had fallen in overnight trade after Australia raised its estimate for wheat production in the 2020/21 season by more than 25% on Wednesday after recent heavy rains broke a three-year drought that has ravaged the country's east coast. The Australian Bureau of Agricultural and Resource Economics and Sciences said wheat production for the year ending June 30, 2021 will total 26.7 million tonnes, up from its March estimate of 21.3 million tonnes. Commodity funds were net sellers of CBOT corn, wheat and soymeal futures contracts on Tuesday, and net buyers of soyoil futures, traders said. Prices at 1030 GMT Last Change Pct End Ytd Move 2019 Pct Move CBOT wheat 508.25 3.75 0.74 558.75 -9.04 CBOT corn 326.50 -1.00 -0.31 387.75 -15.80 CBOT soy 866.25 3.00 0.35 955.50 -9.34 Paris wheat December 187.25 0.75 0.40 188.25 -0.53 Paris maize Jun 169.00 -0.25 -0.15 168.50 0.30 Paris rape Aug 377.00 -1.75 -0.46 387.25 -2.65 WTI crude oil 37.92 -1.02 -2.62 61.06 -37.90 Euro/dlr 1.14 0.00 0.11 1.1210 1.28 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Naveen Thukral; Editing by Rashmi Aich and Alexander Smith)

GRAINS-Chicago soybeans hover near 2-month top on strong demand

08 Jun 2020

* China buys U.S. beans for Sept-Dec period * Corn rises for 3rd day, wheat edges higher (Updates prices, adds quote, changes dateline) By Naveen Thukral and Sybille de La Hamaide SINGAPORE/PARIS, June 8 Chicago soybean futures edged lower on Monday, though the market traded near a two-month high touched in the previous session on support from strong demand for U.S. supplies, while corn gained as higher oil prices boosted hopes for ethanol demand. The most-active soybean contract on the Chicago Board Of Trade (CBOT) was down 0.03% at $8.67-1/2 a bushel, as of 1055 GMT, not far from Friday's highest since April 1 at $8.74 a bushel. Corn rose 0.7% to $3.33-1/2 a bushel, while wheat was up 0.05% to $5.15-1/2 a bushel. U.S. exporters reported large sales of soybeans for a fourth straight day on Friday in deals widely thought to be bound for China, which has accelerated buying this week amid rising prices in top supplier Brazil. The U.S. Department of Agriculture on Friday reported 588,000 tonnes of soybean sales. "The fact that the Brazilian real has recovered against the U.S. dollar in recent weeks has played into the hands of U.S. suppliers," Commerzbank said in a note. Russia's southern Stavropol region, one of country's main grain-producing areas, may see its 2020 crop fall by 40% compared with last year due to cold weather and drought, the Interfax news agency said on Friday, citing a regional agriculture ministry. Large speculators increased their net short position in CBOT corn futures in the week ended June 2, regulatory data released on Friday showed. The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, trimmed their net short position in CBOT wheat and increased their net short position in soybeans. Prices at 1055 GMT Last Change Pct End Ytd Move 2019 Pct Move CBOT wheat 515.50 0.25 0.05 558.75 -7.74 CBOT corn 333.50 2.25 0.68 387.75 -13.99 CBOT soy 867.50 -0.25 -0.03 955.50 -9.21 Paris wheat December 188.50 0.00 0.00 188.25 0.13 Paris maize Jun 169.50 0.00 0.00 168.50 0.59 Paris rape Aug 376.00 1.00 0.27 387.25 -2.91 WTI crude oil 39.85 0.30 0.76 61.06 -34.74 Euro/dlr 1.13 0.00 -0.10 1.1210 0.56 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Naveen Thukral, editing by Sherry Jacob-Phillips and David Evans)

GRAINS-Soybeans rebound on Chinese buying, wheat up on frost concerns

07 May 2020

* Soybeans up in 2 of 3 sessions as China buys U.S. cargoes * Corn firms as higher oil prices revive hopes for ethanol (Adds details on oil prices, speculators positioning, quote; updates prices) By Naveen Thukral and Sybille de La Hamaide SINGAPORE/PARIS, May 7 Chicago soybean futures rebounded on Thursday as Chinese cargo purchases supported the market, although concerns over worsening relations between Beijing and Washington kept a lid on prices. Wheat rose on frost concerns in the Midwest while corn rose as higher oil prices boosted hopes for ethanol demand. The soybean and corn markets were also underpinned by expectations of higher purchases by the feed industry as U.S. meat demand jumps. "The U.S. reported a big jump in pork sales to China in March – a good reason to think higher domestic use of soybeans can persist," said Tobin Gorey, director of agriculture strategy at Commonwealth Bank of Australia. The most-active soybean contract on the Chicago Board Of Trade was up 0.8% at $8.39 a bushel by 1053 GMT, rising for two of three sessions. It closed down 0.8% on Wednesday. Corn added 1% to $3.17-1/4 and wheat was up 1.4% at $5.24-3/4 a bushel. "The cold will damage some of the recently emerged summer crops in the Midwest and may raise some threat to soft wheat, as well," brokerage Allendale said in a note, referring to potential for frost and freezes in the Midwest this weekend. The U.S. Department of Agriculture announced that Chinese buyers had booked deals for 378,000 tonnes of soybeans from the United States. China said on Wednesday tariffs should not be used as retaliation after U.S. President Donald Trump threatened the country over its handling of the coronavirus. Oil prices jumped on Thursday on news that China's exports unexpectedly rose last month, and on the back of U.S. output cuts and the slow return of some activity in Europe. U.S. Energy Information Administration reported an increase in ethanol production for the first time since March 4, while ethanol stocks trimmed 725,000 BBLS. European Union wheat exporters are set to record their best export season for years with record shipments expected from top exporter France, traders said on Wednesday. For the current July 2019/June 2020 season, the EU Commission this week raised its monthly forecast for exports of soft wheat, or common wheat, from the EU plus Britain to 31.8 million tonnes, a four-year high. Commodity funds were net sellers of CBOT corn, wheat, soybean, soyoil and soymeal futures on Wednesday, traders said. Prices at 1053 GMT Last Change Pct End Ytd Pct Move 2019 Move CBOT wheat 524.75 7.25 1.40 558.75 -6.09 CBOT corn 317.25 3.00 0.95 387.75 -18.18 CBOT soy 839.00 6.50 0.78 955.50 -12.19 Paris wheat December 189.00 1.00 0.53 188.75 0.13 Paris maize Jun 165.00 0.25 0.15 168.50 -2.08 Paris rape Aug 369.50 -1.00 -0.27 411.50 -10.21 WTI crude oil 26.14 2.15 8.96 61.06 -57.19 Euro/dlr 1.08 0.00 -0.09 1.1210 -3.80 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Naveen Thukral; Editing by Aditya Soni; Editing by Alison Williams)

'Whole new business' - Farmers innovate to get food from field to plate

07 May 2020

By Gus Trompiz, Sybille de La Hamaide and Christopher Walljasper

CORRECTED-European ethanol makers fear influx from U.S. and Brazil

06 May 2020

* Ethanol consumption slumped globally due to COVID-19 crisis

Belgium blames France after finding tonnes of dead fish in river

30 Apr 2020

BRUSSELS/PARIS The Belgian region of Wallonia said on Thursday that tonnes of fish were killed in a river by pollution that flowed across the border from France and accused the French authorities of being too slow to issue a warning.

French grain industry in logistics scramble as shoppers bulk buy

20 Mar 2020

PARIS France's grain industry is scrambling to find enough trucks and staff to keep factories and ports running as panic buying of pasta and flour because of the coronavirus pandemic coincides with a surge in wheat exports.

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