Latest news with #Episode3
Business Times
25-06-2025
- Business
- Business Times
Australia cashes in on record sheep prices as meat exports surge
[CANBERRA] Australian sheep farmers are cashing in on record-high sheep prices, as rising global demand for lamb and mutton fuels a boom in exports from the world's top sheep meat supplier. Prices are likely to rise further in the coming years as production in New Zealand, Australia's biggest sheep meat export rival, stagnates, analysts said. 'We've seen waves of higher and higher pricing as export demand and our market share has grown,' said Matt Dalgleish, a livestock and meat analyst at consultants Episode 3. While there will be seasonal price volatility, he said, 'until the underlying pressure of limited supply and strong growth in demand changes, there should be more good times ahead for Australian producers.' Australia last year exported 702,000 metric tons of lamb, mutton and goat meat worth US$3.6 billion, almost 200,000 tons more than in 2019, previously the biggest export year. Shipments in the first four months of this year were 10 per cent higher than during the same period in 2024, Australian trade data show. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Processors' need for animals pushed the price of heavy lambs to record highs of nearly US$7.14 a kilogram last week, up 50 per cent from the same time last year, according to a national price indicator compiled by industry body Meat & Livestock Australia (MLA). China is the biggest importer of sheep meat. Other major buyers include the United States, Britain, the European Union and the Middle East. Rising incomes and populations are fuelling demand for sheep meat, and high beef prices, especially in the United States, are encouraging people to switch to lamb and mutton, Dalgleish said. Helping Australia take advantage of that growth is an ongoing decline in New Zealand's sheep industry. The two countries account for more than 80 per cent of global sheep meat exports, according to MLA. The number of sheep in Australia grew in recent years, allowing farmers to better supply processors, but New Zealand's flock has shrunk every year since 2012, according to the country's statistics agency – something New Zealand farmers say is partly due to the conversion of grazing land to pine forests that earn carbon credits. 'New Zealand is the other major global exporter,' said Angus Gidley-Baird, an analyst at Rabobank. 'Its production is stagnating or retracting. So any growth in global demand is Australia's opportunity for the taking.' REUTERS
Business Recorder
23-06-2025
- Business
- Business Recorder
Soybeans edge higher as soyoil rises on Middle East tensions; corn dips on favourable weather
BEIJING: Chicago soybean futures inched higher on Monday, supported in part by gains in soyoil prices after a US strike on Iranian nuclear facilities stoked concerns of global crude oil supplies. The most-active soybean contract rose 0.09% to $10.61-6/8 per bushel, as of 0301 GMT. Soyoil climbed 1.14% to 55.09 cents per pound. China's May soybean imports from Brazil jump Oil prices surged after the US targeted key Iranian nuclear sites over the weekend, an escalation that lent support to soyoil, which is closely tied to biofuel demand. 'Fundamentally, not much has changed since the end of the week,' said Andrew Whitelaw, agricultural consultant at Episode 3. 'Speculators pulled back their net short positions, which is not surprising, considering the uncertainty about the attacks on Iran by Israel, and now the US' Traders and analysts are closely watching for Iran's response to the US strikes. 'The concern will now be about retaliation from Iran, and its proxies in the region. If there are concerns to supply chains, this could cause the market to rally further as crude oil prices rise,' Whitelaw added. US soybean prices remain under pressure due to weak demand and ample global supplies. In top buyer China, soybean imports from Brazil surged 37.5% last month from a year earlier, data showed on Friday, as buyers scooped up South America's bumper crop, while supplies from the United States also rose 28.3%. Wheat traded flat at $5.83 a bushel, after last week's strong rally. Gains were capped by harvest pressure, as the accelerating US winter wheat harvest increases supply. Corn slipped 0.41% to $4.27 per bushel, marking its lowest level of 2025. Favourable weather across much of the US Midwest has improved crop prospects, putting pressure on prices. Commodity funds were net sellers of Chicago Board of Trade wheat, corn, soyoil and soybean futures contracts on Friday and net buyers of soymeal futures, traders said.
Zawya
17-06-2025
- Business
- Zawya
Chicago soybeans flat on favourable weather, soyoil supports
BEIJING/PARIS - Chicago soybean futures were flat on Tuesday, torn between favourable U.S. crop weather and still strong soyoil prices despite a small fall after a sharp two-day rally, fuelled by surging crude oil and stronger U.S. biofuel blending mandates. The most-active soybean contract was unchanged at $10.69-3/4 per bushel, as of 1145 GMT. Soybeans had touched a one-month high and soyoil a 20-month high on Monday. Analysts said Iran-Israel tensions could add volatility to grain markets through energy price shocks. "At present eyes across all markets are on what is occurring in the Middle East," said Andrew Whitelaw, agricultural consultant at Episode 3. "The region is a huge contributor to the energy markets, and these markets have a huge impact on grain pricing levels." Soyoil dropped 0.3% at 54.95 cents per pound, as traders took profits, removing some support for soybeans. Soyoil is used to make biodiesel, and is therefore influenced by oil prices. These rose on Tuesday on rising disruptions from the Iran-Israel conflict, although major oil and gas infrastructure and flows have so far been spared from any substantial impact. The oilseed also continues to face headwinds from weak demand, tariff uncertainty and global competition. Corn slipped 0.06% to $4.35 a bushel, pressured by beneficial weekend rains across key growing regions, including parts of the Plains and the northwest and southeastern Midwest. However, strong export data helped curb losses. U.S. corn inspections in the latest week reached about 1.67 million metric tons, at the high end of trade expectations. Weekly condition ratings for the country's corn crop also improved and were tied for the highest for this time of the season in several years, according to U.S. government data. Soybean ratings declined. rose 0.65% to $5.40 a bushel, though harvest pressure capped gains. The U.S. winter wheat harvest is expanding after a slow start. The USDA said the winter wheat crop was 10% harvested, up from 4% a week ago but behind the five-year average of 16%. Analysts on average had estimated harvest progress at 11%. In France , the farm ministry on Tuesday forecast a strong rebound of the country's 2025 winter barley and rapeseed production from rain-hit crops last season. Commodity funds were net buyers of Chicago Board of Trade soyoil futures contracts on Monday and net sellers of corn, soymeal, wheat and soybean futures, traders said. Prices at 1145 GMT Last Change Pct Move CBOT wheat 540.00 3.50 0.65 CBOT corn 435.00 0.25 0.06 CBOT soy 1069.75 0.00 0.00 Paris wheat 199.75 -0.50 -0.25 Paris maize 185.75 0.25 0.13 Paris rapeseed 490.00 1.00 0.20 Euro/dlr 1.16 0.00 0.03 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne
Business Recorder
17-06-2025
- Business
- Business Recorder
Chicago soybeans slip on favourable weather, weaker soyoil
BEIJING: Chicago soybean futures fell on Tuesday, pressured by favourable US crop weather and weaker soyoil prices, after a sharp two-day rally. The most-active soybean contract dipped 0.23% to $10.67 per bushel, as of 0222 GMT, snapping gains fuelled by surging crude oil and stronger US biofuel blending mandates. Soybeans had touched a one-month high and soyoil a 20-month high on Monday. Analysts said Iran-Israel tensions could add volatility to grain markets through energy price shocks. 'At present eyes across all markets are on what is occurring in the Middle East,' said Andrew Whitelaw, agricultural consultant at Episode 3. 'The region is a huge contributor to the energy markets, and these markets have a huge impact on grain pricing levels.' Soyoil contract dropped 0.85% at 54.64 cents per pound, as traders took profits, removing some support for soybeans. The oilseed also continues to face headwinds from weak demand, tariff uncertainty and global competition. Corn slipped 0.06% to $4.35 a bushel, pressured by beneficial weekend rains across key growing regions, including parts of the Plains and the northwest and southeastern Midwest. Soybeans rise on oil rally, still on track for weekly loss However, strong export data helped curb losses. US corn inspections in the latest week reached about 1.67 million metric tons, at the high end of trade expectations. Weekly condition ratings for the country's corn crop also improved and were tied for the highest for this time of the season in several years, according to US government data. Soybean ratings declined, rose 0.84% to $5.41 a bushel, though harvest pressure capped gains. The US winter wheat harvest is expanding after a slow start. The USDA said the winter wheat crop was 10% harvested, up from 4% a week ago but behind the five-year average of 16%. Analysts on average had estimated harvest progress at 11%. Commodity funds were net buyers of Chicago Board of Trade soyoil futures contracts on Monday and net sellers of corn, soymeal, wheat and soybean futures, traders said.
Business Recorder
16-05-2025
- Business
- Business Recorder
Chicago soybeans set for first weekly gain in three on demand prospects
BEIJING: Chicago soybean futures are set for a weekly gain on Friday after two straight weeks of decline, as a China-US tariff pause sparked hopes for increased Chinese demand, although uncertainty over the shape of a final trade deal lingered. Soybean contract rose 0.24% to $10.54 a bushel, as of 0336 GMT on Friday. Prices are up 0.14% for the week. Prices had been under pressure following a sharp drop in soyoil during the previous session caused by concerns over US biofuel targets and lower crude oil prices. Soybeans rebounded after the US Environmental Protection Agency (EPA) sent its proposal to the White House for review on future biofuel blending mandates starting in 2026. 'There are expectations that this will be positive for soy, as a way to assist producers impacted by Trump tariffs,' said Andrew Whitelaw, agricultural consultant at Episode 3. Wheat is set for its first weekly gain in four weeks, as low prices continue to attract buying interest. US export sales of wheat for the week ended May 8 totalled 804,800 metric tons, at the higher end of analyst expectations, according to the US Department of Agriculture. Chicago soybeans drop from 10-month highs Saudi Arabia issued a tender to buy 655,000 metric tons of wheat for August-October shipment period, the General Food Security Authority said on Thursday. Corn gained 0.28% to $4.49-6/8 a bushel and is on track for a weekly gain after declining for three, supported by robust demand and favourable weather. Weekly export sales of corn totalled 2,186,100 metric tons for the week ended May 8, above a range of analysts' expectations, according to USDA. Meanwhile, Brazil's second-corn farmers are poised to increase production by 11% this year to an estimated 99.8 million metric tons, national crop agency Conab said on Thursday, citing good weather in key growing regions. Commodity funds were net sellers of Chicago Board of Trade soybean, soyoil, soymeal and corn futures contracts on Thursday, traders said. They were net buyers of wheat futures, traders said.
