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News 25561 to News 25570 of about 27389 news within page 2557
25561. 14/09/2004
13/09/04 CHICAGO (Dow Jones)--Soybean crush rates for August in theNational Oilseed Processors Association's monthly soybean crush report areexpected to fall from the previous report to about 101.8 million bushelsdue to a seasonal decline in available stocks at the end of the marketingyear, according to a survey of industry analysts.NOPA's August soybean crush report will be released Tuesday at 0730 CT(1230 GMT).In the previous NOPA report, crush for July was pegged at 108.660million bushels. Estimates for August crush ranged from 99.5 million to103.5 million bushels.Dan Cekander, market analyst for Fimat in Chicago, said while themonth of August typically is on the lower end of processing rates due toseasonally tight stocks at the end of the marketing year, which ends Sept.1, the crush rate was not as low as what was previously forecast."If they truly were able to crush at that rate, it seems to indicatethat 2003 soybean production was underestimated because the processorswere able to originate a significant amount of beans during August. Thatshould have been the tightest month supply wise," Cekander said.Dan Basse, industry analyst at AgResource in Chicago, agreed thatwhile the reduction is seasonal, it was not as severe as what was thoughtto be needed at the start of the year. Some help also came from earlyharvested soybeans in the southern U.S. that were shipped to crushingfacilities farther north."To some degree, the Delta beans helped relieve some of the tightness.But the USDA understated the crop. We found more beans than we thought wehad," Basse said.Earlier in the year, processors had anticipated crush rates down to 70million to 80 million bushels for the end of the year.Meanwhile, soyoil stocks are seen falling to around 902 millionpounds, down from the July NOPA oil stocks figure of 1.023 billion, as aresult of continued strong domestic demand coupled with smaller output dueto reduced crush.The NOPA report includes figures only from processors that are membersof the organization, and consequently reports a smaller number than theU.S. Census Bureau's crush report that follows later in the month.
25562. 14/09/2004
13/09/04 CEDAR FALLS, Iowa (Dow Jones)--The U.S. Department ofAgriculture Monday announced that it will donate 3,000 metric tons ofcrude degummed soybean oil and 330 tons of soy products (textured soyprotein, soy protein concentrate and defatted soy flour) to Planet Aid,Inc., a private voluntary organization, for use in Mozambique, accordingto information from the U.S. Department of Agriculture's ForeignAgricultural Service web site.This is a three-year program, providing the same commodities in thesame amounts each year.Planet Aid will sell the soybean oil and use the proceeds to educate200,000 people in HIV/AIDS-affected communities about the disease andprevention methods. Funds will also be used to recruit 450 primary schoolteachers, implement an agricultural development program, financiallysupport the direct distribution of the donated soy products to 2,900HIV/AIDS-impacted families, and establish 50 soy-based canteens in ruralcommunities that will feed HIV/AIDS patients free and charge a minimalprice for others.The donation will be made under USDA's Food for Progress program,administered by the Foreign Agricultural Service. The supply period isfiscal year 2004.The Food for Progress program provides for USDA donations ofagricultural commodities to needy countries to encourage economic oragricultural reforms that foster free enterprise. This year, USDA expectsto donate around 615,000 tons of U.S. commodities to 33 countries underFood for Progress.
25563. 14/09/2004
13/09/04 - CEDAR FALLS, Iowa (Dow Jones)--China's total vegetable oilimports are forecast at 7.0 million tons, a slight increase from lastyear, the U.S. Department of Agriculture said Monday in its Oilseeds:World Markets and Trade report.Although oil consumption should continue to rise supported by incomegrowth, vegetable oil import growth is expected to slow due partly tolarger production in the country. Vegetable oil production is forecast at13 million tons, up 11% from the previous year, due mainly to largerforecast production of soybean oil, cottonseed oil, and rapeseed oil.Imports are expected to account for nearly 35% of total vegetable oilconsumption. China is estimated to account for 19% of global oilconsumption in 2004/05, the report said.China's vegetable oil imports in 2003/04 are estimated to reach 6.8million tons, up nearly 27% from the previous year, the USDA noted. Thesharp increase in imports is primarily attributed to high soybean pricesin the spring that made oil crushing unprofitable and encouraged importsof oil. Anticipation of the implementation of new standards for crudesoybean oil has also accelerated imports before the new standards go intoeffect on Oct. 1, 2004. Vegetable oil imports are mainly from Argentina(soy) and Malaysia (palm).
25564. 14/09/2004
13/09/04 - CEDAR FALLS, Iowa (Dow Jones)--The world oilseed productionforecast for 2004-05 was increased 1.8 million tons in September to 380.5million tons, the U.S. Department of Agriculture said Monday in itsOilseeds: Situation and Outlook report.An increase in the EU rapeseed crop, up 1.2 million tons to 14.2million tons, and an increase in India's soybean crop, accounted for mostof the increase. Other production increases this month include cottonseed,and sunflowerseed.The 2004/05 soybean production was increased to 144,000 tons thismonth as a lower U.S. production forecast, down 1.1 million tons to 77.2million tons, nearly offset a 1.3 million-ton increase in India'sproduction forecast, the report said.A reduction in forecast soybean imports for 2004/05 helped push worldoilseed trade lower in September. Total oilseed imports were lowered to74.5 million tons as soybean imports fell 987,000 tons to 63.5 milliontons. This mirrors a similar decline in soybean imports for 2003/04 andreflects the weaker demand for soybean imports observed in recent weeks.Reductions in soybean imports were noted for the EU, Egypt, Israel, andothers in 2003/04, and in China, Egypt, Malaysia and South Africa for2004/05.Soybean exports for 2003/04 were reduced nearly 1.0 million tons to55.5 million tons this month. A slower year-to-date export pace byArgentina accounted for much of the decline, with additional shortfallsnoted for the U.S. and Uruguay. Similarly, soybean exports were reduced1.2 million tons to 63.6 million tons in 2004/05. Nearly all-majorexporters were impacted with particular attention focused on the U.S.,Argentina, and Uruguay. The exception was Canada where the soybean exportforecast for both 2003/04 and 2004/05 was increased. Specializing inidentity preserved soybeans, year-to-date trade showed exports reaching880,000 tons in 2003/04, which in turn prompted an increase in the 2004/05export forecast to 950,000 tons, the USDA said.Forecast world oilseed crush for 2004/05 was increased 1.2 milliontons to 301.0 million tons, bolstered by crush increases for India and theEU following increases in soybean and rapeseed production, respectively.This contrasts with a 700,000-ton drop in 2003/04 oilseed crush thatfollowed this month's reduced soybean and sunflowerseed productionestimates for China. Lower world crush volume led to declines in2003/04-protein meal and vegetable oil production. For 2004/05, theincrease in crush volume led to higher production of protein meals andvegetable oils. Forecast world protein meal production rose 403,000 tonsto 206.6 million tons while vegetable oil production increased 410,000tons to 105.9 million tons.India's soybean meal export forecast for 2004/05 increased 400,000tons to 2.5 million tons this month. This more than offset lower soybeanmeal exports from the U.S. However, reduced sunflowerseed meal andfishmeal export forecasts pushed the total 2004/05 meal export forecastlower.World vegetable oil imports for 2004/05 were lowered this month withreductions in the soybean, palm, and rapeseed oil forecasts. Total importsdeclined 370,000 tons to 38.1 million tons with palm oil down 191,000 tonsto 20.9 million tons and soybean oil down 174,000 tons to 9.7 milliontons.Forecast world consumption of vegetable oil for 2004/05 was higher despitethe cut in the import forecast due to the larger rapeseed crush. Total2004/05 vegetable oil consumption is forecast to reach 105.1 million tons,up 238,000 tons from last month and 6% above the 2003/04 forecast, thereport noted.
25565. 13/09/2004
KUALA LUMPUR, Sept 11 (Bernama) -- The move to boost the agriculturesector as the third engine of growth after manufacturing and services is astep in the right direction towards creating high value-added agriculturaland agro-based products besides encouraging related research anddevelopment activities.
25566. 13/09/2004
CHANGLOON, Sept 11 (Bernama) -- Felda will give special focus oncommercialising its products such as palm oil and products made from it inforeign countries, especially on the African continent.
25567. 13/09/2004
09/09/04 - In Brazil & Argentina several major oilseed and grain growingareas are still very dry. Early plantings could not be carried out.Farmers wait for the arrival of the much needed rainfall but forecasts donot provide much hope forthis to occur until Sept 18.In Brazil hardly any rain was noted in the first half of this week in MatoGrosso as well as in neighbouring states. Mato Grosso is the biggestsoybean producing state in Brazil, but early plantings, normally scheduledfor the first half of September, cannot be carried out. It is still veryearly in the season, but the very dry conditions during the last 6-8 weeksare of great concern. Mato Grosso accounted for 24% of total Braziliansoybean plantings last year. It may be difficult this year to accomplishthe intended boost in soybean plantings by 0.6 Mn ha in that state.Dryness is also of concern in most other Brazilian soybean growingregions.In Argentina the northern half of the country is still very dry. Someisolated beneficial rain arrived in parts of SantaFe and Entre Rios on Sept 7 and 8, but moisture large deficits stillpersist.
25568. 11/09/2004
KUALA LUMPUR, Sept 10 (Bernama) -- The government on Friday proposed anincentive package which includes tax deduction and pioneer status toencourage the commercialisation of resource-based research and development(R&D) findings by public research institutes.
25569. 11/09/2004
9/10/2004 BUSINESSWORLD (PHILIPPINES) - TACLOBAN CITY - The PhilippineCoconut Authority (PCA) needs around P1.2 billion a year to rehabilitate490,000 hectares of coconut farms throughout the country and contain thecadang-cadang disease. PCA Administration Danilo Coronacion said hisagency still hopes to get part of the dividend earnings from a 27% stakein San Miguel Corp. believed to have been acquired using funds from acoconut levy collected under the Marcos government. "We all realize thatthe government is now in tight financial status that is why we are lookingat accessing whatever funds are available from the coconut levy," he said.
25570. 11/09/2004
10/09/04 CEDAR FALLS, Iowa (Dow Jones)--U.S. soybean futures areexpected to open with good gains Friday after the government cut 2004-05production more than expected.However, a record-large U.S. corn crop and as-expected wheat numbersshould keep those markets on the defensive at the start, analysts said ata Chicago Board of Trade press briefing following the U.S. Department ofAgriculture's release of its September crop production and supply anddemand reports."It looks like there's going to be plenty of everything," John Welsh,senior vice president at Peregrine Financial Group, said of the recordcorn and near-record soybean crops."Upside (price) potential will probably be limited, and demoralizationof the participants in the market as the grain complex has declined thisyear may at some point in the near future reach a level of outrightdisgust that would cause the market to rally," he added. "I'm not surewe're there yet."For example, the nearly ideal growing conditions of large crops havepressured Nov beans from a high of $7.89 in May to a low of $5.52 inAugust. Dec corn has plummeted from $3.22 1/4 in May all the way to $2.25in September.Meanwhile, the USDA raised U.S. 2004-05 corn production to 10.961billion bushels with an average yield of 149.4 bushels an acre in theSeptember report, from 10.923 billion bushels and a 148.9 bu/ac yield inthe August data and markedly higher than last year's 10.114 billion-bushelcrop.Corn ending stocks rose by 77 million bushels to a total of 1.209billion bushels, compared to the August estimate of 1.132 billion.The USDA lowered 2004-05 soybean production to 2.836 billion bushelswith an average yield of 38.5 bushels an acre, compared to 2.877 billionand 39.1 bu/ac in the August report.The soybean crush was lowered by 10 million bushels to 1.615 billion,and exports were lowered 30 million bushels to 1.000 billion. Soybeanending stocks were unchanged at 190 million bushels.On wheat, the USDA left 2004-05 all-wheat production unchanged at2.123 billion bushels with an average yield of 42 bushels an acre. Endingstocks were also unchanged at 578 million bushels, while exports were leftat 950 million bushels, the USDA said.After their sharp declines, prices may now begin to find "demandsupport levels," Welsh said, adding that usage and feed demand haveincreased over the same time frame."I still have the suspicion, as everyone does, that the upsidepotential is somewhat limited this year. But if South America doesn'tproduce as much as they did last year, we may get a kick from that.Soybean demand has been wonderful and growing continually but so hasproduction - not only in the United States but all around the world,"Welsh said, highlighting the markets' dilemma this year.The longer term technical picture in corn and soybeans, as well as theglobal increase in demand, may theoretically stabilize prices near currentlevels, he noted.
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