Pakistan and US agree to enhance agricultural research's scope

Pakistan and the United States Wednesday agreed to enhance scope of scientific research in agricultural sector in order to get maximum benefit from modern technology. Agricultural Counsellor of US Embassy in Pakistan Clay Hamilton called on Federal Minister for National Food Security and Research Sikandar Hayat Khan Bosan and discussed possibilities to launch different programmes for increasing farmers income in the country, said a press release. The minister said the government was fully committed to modernise agricultural infrastructure of the country in order to achieve self-sufficiency in food production. He said rapid climate change was greatly affecting the agricultural system in the country and there was a need to further enhance collaborative research between the two countries in the field of agriculture to ensure future food security. Sikandar Bosan appreciated the work of US Department of Agriculture (USDA) in Pakistan to improve agriculture infrastructure by launching various programmes and projects of agri-development. He also discussed the matter of export of Pakistani mangoes to the US markets and possibilities for facilitating its exporters.

Source: http://www.brecorder.com

Pakistan and US agree to enhance agricultural research's scope

September 12, 2013

Pakistan and the United States Wednesday agreed to enhance scope of scientific research in agricultural sector in order to get maximum benefit from modern technology. Agricultural Counsellor of US Embassy in Pakistan Clay Hamilton called on Federal Minister for National Food Security and Research Sikandar Hayat Khan Bosan and discussed possibilities to launch different programmes for increasing farmers income in the country, said a press release. The minister said the government was fully committed to modernise agricultural infrastructure of the country in order to achieve self-sufficiency in food production. He said rapid climate change was greatly affecting the agricultural system in the country and there was a need to further enhance collaborative research between the two countries in the field of agriculture to ensure future food security. Sikandar Bosan appreciated the work of US Department of Agriculture (USDA) in Pakistan to improve agriculture infrastructure by launching various programmes and projects of agri-development. He also discussed the matter of export of Pakistani mangoes to the US markets and possibilities for facilitating its exporters.

Source: Business Recorder

US Soyabean Futures Rose

US soyabean futures rose on Monday, snapping a streak of three straight negative sessions, on technical buying and worries that delays in the South American harvest will further slow delivery of supplies from Argentina and Brazil, traders said. The soyabean market found support from bargain-hunters after prices on Friday dropped to their lowest level since June.
Wheat futures rose due to strong global demand for US supplies as well as concerns about potential damage to the developing crop in the US Plains from forecasts for a turn to colder weather.

Corn futures edged higher as wet weather in key growing areas across the US Midwest threatened to delay the start of planting this week in places such as Illinois and Iowa.

All three commodities benefited from short covering as prices have fallen sharply during the past two weeks. "More than anything, it was just short covering," said Karl Setzer, market analyst for MaxYield Co-operative. "We really kind of pounded the grains last week. We have ever since we came out with the (quarterly) stocks report."

Chicago Board of Trade May soft red winter wheat futures ended 13-1/2 cents higher at $7.12-1/2 a bushel. Prices rose through resistance at the 30-day moving average early in Monday's session, the first time prices surpassed that benchmark since the US Agriculture Department's bearish quarterly stocks report on March 28.
Hard red winter wheat futures at the Kansas City Board of Trade and MGEX spring wheat also posted strong gains. China bought 14 to 16 cargoes of US wheat on Thursday for delivery from June to December, the China National Grain and Oils Information Center, an official think tank, said on Monday. The announcement confirmed rumours that supported wheat prices last week.
"China's wheat purchase and ongoing US/global crop concerns have the wheat complex supported across the board," Matt Zeller, director of research at INTL FCStone, said in a research note to clients.
CBOT May soyabeans were 16-1/4 cents higher at $13.78 a bushel. Traders noted some technical buyers entered the market when prices fell near the low end of their 20-day Bollinger range of $13.54-1/4 a bushel during the overnight session. CBOT May corn was 4-1/2 cents higher at $6.33-1/2 a bushel, lagging the gains in soyabeans and wheat due to the unexpected abundance of supplies reported by the USDA in the quarterly stocks report.

Source: http://www.brecorder.com

US wheat futures fall

US wheat futures fell on Friday on continued pressure from storms in the US Plains that provided relief to the drought-stricken hard red winter wheat crop, traders said. Wheat prices closed at their session lows on a round of late selling as investors squared positions ahead of the weekend.

For the week, the benchmark Chicago Board of Trade March soft red winter wheat contract was down 3.9 percent, the biggest weekly decline for the front-month contract in seven weeks and its fifth straight losing week. Wheat prices have fallen in 10 of the last 12 weeks.

CBOT wheat, which closed at a near-eight month low, has shed 9.8 percent of its value during the past five weeks. US wheat exports will drop by 10 percent to 950 million bushels in the 2013/14 crop year as damage from drought in the US Plains hinders crop development, the US government said. 

Source: http://www.brecorder.com/

Soyabean futures slip

US soyabean futures slid on Wednesday, breaking a three-session rise, and corn fell for a fourth straight day on profit-taking ahead of a government crop report on Friday and as some weather forecasts suggested a wetter trend in Argentina next week. 

Wheat rebounded from a 3-1/2 week low after dropping for four consecutive sessions in a bargain-buying bounce and on signs of improving export demand.
Fluctuating South American weather forecasts have steered grain markets this week and stirred debate on whether, or to what degree, the US Department of Agriculture will adjust its world supply/demand balance sheet. Markets are relying on large South American corn and soya crops to replenish tight global supplies following a severe US drought in 2012, but a dry spell in Argentina has trimmed expectations for the No 3 corn and soyabean producer's output.
"The American model is trending a little wetter next week for Argentina. Some of the forecasters that I follow think the model is overdoing it, but nonetheless it's something people are trading," said Jim Gerlach, president of A/C Trading in Fowler, Indiana. World Weather Inc agricultural meteorologist Andy Karst said: "There will be scattered showers but coverage will be poor. There will be increasing stress and yield losses."
Most of Brazil was in good shape with farmers able to harvest around showers in the north, while dryness has returned to the north-east, Karst said. Dryness also is becoming an issue in southern Brazil and in Paraguay, he said. Brazil's vegetable oils association, Abiove, and consultants FCStone raised their soya crop forecasts on Tuesday from previous estimates as beneficial weather over the world's second-largest soyabean producer pushed up yields.
Other private forecasters have trimmed their projections in recent days, citing rains in northern Brazil. An expected strong rebound in US corn and soyabean production following the country's worst drought in a half century in 2012 also hung over prices. The US Congressional Budget Office projected on Tuesday that US farmers will plant huge amounts of corn and soyabeans this year, producing a record corn crop and, barring weather problems, ending three years of razor-thin supplies.
Crop forecaster Lanworth on Wednesday issued a record outlook for US corn production of 13.8 billion bushels in the 2013/14 crop year, with average yields rising to 155.6 bushels per acre. Chicago Board of Trade March soyabeans slid 10 cents, or 0.7 percent, to $14.85-1/2 a bushel by 12:00 pm CST (1800 GMT). The contract climbed on Monday to the highest point since mid-December, but has struggled to breach the $15-a-bushel mark.
CBOT March corn gave up 5 cents, or 0.7 percent, to $7.24 a bushel. Wheat futures rebounded at midmorning after falling to the lowest level since January 11 and amid strong export prospects for the coming months for US SRW wheat, which was among the least expensive in the world.
Export premiums for soft red winter wheat at the US Gulf Coast have climbed about 10 cents per bushel this week, cash grain traders said. Wheat also drew underlying support from forecasts for a shift back to drier weather in most of the key growing areas of the drought-stricken US Great Plains hard red winter wheat region. CBOT March wheat rose 3-1/4 cents, or 0.4 percent, to $7.60-3/4 a bushel. 
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