World grain output to fall in 2016-17 – a little, says IGC
The world will see “another season of ample grain availabilities” next season, the International Grains Council said, forecasting a decline in production – but not enough to force a decline in “heavy” global stocks.
The intergovernmental group, in its first full forecast for the world grains harvest in 2016-17, pegged it at 1.997bn tonnes, taking it back below 2bn tonnes for the first time in four years.
Cotton futures hold gains, amid doubts over US sowings hopes
Cotton futures continued to defy a double whammy of downbeat data, on US sowings and exports, as wetness in major growing areas raised doubts that farmers will achieve the plantings they have hoped for.
Cotton futures for May, which gained 1.3% in the last session, nudged a further 0.1% higher to 57.67 cents a pound in early deals in New York on Friday, and remaining above its newly-regained 40-day moving average.
ADM exits Brazilian ethanol market, as it mulls US mills sales
Agribusiness giant Archer Daniels Midland struck a deal to dispose of its sole Brazilian ethanol plant, citing a “challenging” environment for the biofuel.
The news comes hard on the heels of the announcement that the company, which was long considered a champion of biofuels, is mulling the sale of three US ethanol plants.