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Rabobank: Supply Slide Saves Grounded Demand
Agricultural commodities were heavily impacted by trade wars, African swine fever, and erratic weather in 2019. According to the RaboResearch report "Outlook 2020: Supply Slide Saves Grounded Demand," many of these factors will remain key for agri commodity prices in 2020.
In 2019, agri commodity markets were impacted by several unprecedented incidents and uncommonly severe conditions. China's hog herd declined significantly, as a result of African swine fever (ASF). This drastically weakened demand for feed and, combined with the US-China trade war, resulted in a significant slowdown in the global soybean trade.
Meanwhile, record US corn- and soybean-planting delays drove corn prices from three-year lows to six-year highs within a few weeks. Then, improved...
Challenging Harvesting and Sowing Conditions in Europe, According to Latest Bulletin
Farmers in many parts of Europe had trouble harvesting summer crops and sowing the winter crops for next year’s season, either because it was too dry or because it was too wet, according to the European Commission’s JRC MARS Bulletin published October 28.
Overall, the bulletin said yield forecasts for summer crops had been revised slightly downward but no adjustments were made to the yield forecasts of winter crops.
In most parts of Europe, the review period, from 1 September to 20 October, was...
Storms Halt Production at Two Tyson Foods Poultry Plants
Reports of storm damage impacting Tyson poultry plants located in Georgia and Arkansas have halted operations.
On Saturday, October 19, a storm hit the administration area of the Vienna, Georgia location. The plant was not operating at the time, and resumed normal operations today.
Due to overnight storms in the area, the plant near downtown Rogers, Arkansas, lost power yesterday and did not operate first shift. However, normal operations resumed Monday afternoon, and there was...
Industry Prepares for Hurricane Dorian
Hurricane Dorian has devastated the Bahamas, and is now regaining strength as the storm is coming up the U.S. Atlantic coast. The storm may make landfall later today in South Carolina. Record storm surge potentially reaching a height of 8 feet and wind gusts of up to 58 mph are expected to reach South Carolina, according to the U.S. National Hurricane Center. The USDA sent out a reminder that assistance is available in the wake of disasters, and has partnered with FEMA to help those in need recover. The USDA advised to protect livestock, plan for an evacuation in case necessary, but if it is not feasible to relocate livestock, provide shelter with adequate food and water until it is safe to return.
Smithfield Foods shared that the company is fully prepared for the potential impact of Hurricane Dorian, specifically the Carolinas and Virginia. Smithfield has multiple operations, both facilities and farms, and more than...
Update: List of Current Plant Closures Due to COVID-19
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