Latest news with #export
Yahoo
13 hours ago
- Business
- Yahoo
Soybeans On the Higher Side of Unchanged to Start Friday
The soybean market is trying to end the week on a higher note, with front months fractionally higher and November up 2 cents. Soybeans posted Thursday losses of 1 to 3 cents at the close, as multi-year lows in Meal are adding to the pressure. The cmdtyView national average Cash Bean price was up 1/4 cents at $9.79 1/2. Soymeal futures were another $4.70 to $5.40/ton lower, hitting the lowest prices on the front month chart since 2016. Soy Oil were up 56 to 69 points on the day. Export Sales data from Thursday morning tallied 402,931 MT of 2024/25 soybeans sold in the week ending on June 19. That was back down from the week prior, but still up 42.4% from the same week in 2024. The Netherlands was the top buyer of 63,400 MT, with Mexico in from 60,600 MT and 60,000 MT sold to Egypt. New crop sales were tallied at 156,153 MT, the third highest in the MY. Mexico was the buyer of 57,200 MT, with 55,000 MT sold to unknown destinations. Coffee Prices Move Higher as the Dollar Falls Coffee Prices Rally as the Dollar Falls Cocoa Prices Jump as Ghana Cuts its Cocoa Production Forecast Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Sales for soybean meal were just 93,945 MT for 2024/25 and 166,129 MT for 2025/26, totaling 260,074 MT and on the low side of the expected 100,000 and 650,000 MT. Soybean oil sales were 4,023 MT, on the low side of the estimate of net reductions of 10,000 MT to net sales of 34,000 MT. Datagro estimates the Brazilian soybean crop at 173.5 MMT, which was a 1.5 MMT increase from the prior numbers. Jul 25 Soybeans closed at $10.22 3/4, down 2 1/2 cents, currently up 1/2 cent Nearby Cash was $9.79 1/2, up 1/4 cent, Aug 25 Soybeans closed at $10.27 3/4, down 1 3/4 cents, currently up 3/4 cent Nov 25 Soybeans closed at $10.16 1/2, down 2 cents, currently up 2 cents New Crop Cash was $9.65 1/1, down 1/4 cent, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
13 hours ago
- Business
- Yahoo
Wheat Popping Higher into Friday
The what market is trading with gains across the three markets on Friday morning. Wheat posted weakness across the three markets on Thursday, as the reversion lower is extending. Chicago SRW wheat was 7 to 8 cents lower at the close. KC HRW contracts were 5 to 6 cents in the red. MPLS spring wheat was down 2 to 5 cents. USDA's Export Sales report showed 255,208 MT of wheat sold in the week of June 19, falling short of analysts estimating 300,000 to 600,000 MT. That was down 40.26% from last week and 61.75% below the same week last year. The largest buyer was Japan at 93,600 MT, with 83,200 MT sold to Mexico. Coffee Prices Move Higher as the Dollar Falls Coffee Prices Rally as the Dollar Falls Cocoa Prices Jump as Ghana Cuts its Cocoa Production Forecast Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Russia's wheat crop is estimated to total 84.53 MMT this growing season, according to IKAR, which was up 0.7 MMT from the previous estimate. A South Korean mill purchased a total of 82,000 MT of US wheat in 2 tenders overnight. The European Commission estimates the EU wheat production for 2025/26 at 128.2 MMT, a 1.6 MMT increase from the estimate last month. Stocks were down 0.71 MMT to 8.34 MMT. World wheat production was raised 2 MMT by the International Grains Council to 808 MMT, with consumption up 1 MMT. Ending stocks for 2025/26 were up 2 MMT to 264 MMT. Jul 25 CBOT Wheat closed at $5.21, down 7 1/4 cents, currently up 4 1/2 cents Sep 25 CBOT Wheat closed at $5.36 3/4, down 7 3/4 cents, currently up 5 1/4 cents Jul 25 KCBT Wheat closed at $5.18 1/4, down 6 cents, currently up 4 1/4 cents Sep 25 KCBT Wheat closed at $5.33 3/4, down 5 1/2 cents, currently up 4 1/2 cents Jul 25 MGEX Wheat closed at $6.06 3/4, down 4 3/4 cents, currently up 2 3/4 cents Sep 25 MGEX Wheat closed at $6.25 1/2, down 2 1/2 cents, currently up 7 cents On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Times of Oman
16 hours ago
- Business
- Times of Oman
TV BRICS unveils strategy to boost Russian agricultural exports in BRICS+ nations
Moscow: The TV BRICS International Media Network has partnered with Russia's Federal Centre for Agricultural Export Development (Agroexport) to promote Russian agro-industrial products across BRICS+ countries. The agreement was formalised at the 28th St Petersburg International Economic Forum, with TV BRICS Chairman Ivan Polyakov and Agroexport Director Ilya Ilyushin signing the deal, TV BRICS reported. The collaboration aims to enhance the global image of Russia's agricultural sector by highlighting leading national producers, promoting Russian goods in overseas markets, and encouraging export-oriented growth among agro-processing enterprises, as reported by TV BRICS. "Media play an important role in supporting Russia's agro-industrial complex, helping to promote products in foreign markets and form a positive image of the industry. Today we face a crucial task - to develop a global dialogue among friendly nations. I am confident that cooperation with TV BRICS will enable us to promptly deliver all necessary information about the development of trade relations among BRICS countries to a multibillion audience," said Ilyushin, as per TV BRICS report. Polyakov underlined the strategic importance of food security and sustainable agriculture, aligning the initiative with the UN's Sustainable Development Goals. He noted that the topic remains a key priority in TV BRICS' media agenda. Previously, TV BRICS collaborated with Brazil's Agro+ TV on Agroparallels, a documentary series exploring Russia-Brazil cooperation in the agricultural sector. Building on that success, Polyakov announced a new project titled BRICS GRAIN, set to premiere in 2025, which will focus on agricultural diplomacy and deepening partnerships with the Global South and East. Agroexport, a key agency under the Russian Ministry of Agriculture, supports exporters through in-depth market analysis, barrier assessments, international promotion, and buyer engagement. The centre plays a pivotal role in Russia's strategy to expand its agricultural footprint globally.
Arab News
2 days ago
- Business
- Arab News
Indian entrepreneurs look to Middle East for further boost amid small business boom
NEW DELHI: Indian entrepreneurs are increasingly looking to expand into the Middle East as small businesses in India seek to make the most of their strong growth trajectory. The country boasts around 63 million micro, small and medium enterprises, up from 47.7 million in July 2024, latest government data shows. The sector contributes to some 30 percent of India's GDP and 45 percent of its exports. Amid the boom, Indian entrepreneurs seeking to scale up their businesses are now eyeing collaborations across various sectors with their counterparts in the Middle East. 'We are working with, at present, with … Bahrain, you know, Qatar, UAE, Saudi Arabia, by attending various exhibitions, fairs organized by these countries. We are taking world-class Indian MSME delegations to these countries, hundreds of MSMEs, for (business) matchmaking,' Vijay Kumar, director general of the World Association for Small and Medium Enterprises, told Arab News at the 2025 MSME Day in New Delhi. He added he was particularly optimistic about the potential for growth for Indian businesses and their counterparts in Saudi Arabia, saying that they were already collaborating. "(The) future is very good for Saudi MSMEs and Indian MSMEs,' he said. 'I'm sure in the coming years not only things will be multiplied … (but) thousands of Saudi MSMEs and Indian MSMEs (will) start (feeling the) benefits and become the global partner(s) for export and providing employment to their own countries.' The rising interest toward the Middle East is due to the region's business landscape and its wealth of opportunities, according to Naveen Sharma, chairman of Athena Ventures. 'The reason for Indian MSMEs' expansion is that nowadays Indian MSMEs are doing very well. They are now flushed with funds, they have the right technology, they have good processes. So they are very keen to expand, and (the) Middle East is a very fertile business environment in which Indian MSMEs can really flourish,' he told Arab News. 'Already many of them have invested there, and as you may be knowing because of the free trade agreements, because of the liberal trade policies, liberal tax policies, many Indian MSMEs are also making Gulf countries their hubs for billing and logistics, all those things.' The government has described small and medium businesses as the 'backbone' of the Indian economy and a key pillar of growth as the sector has emerged as the second-largest employer in the country after agriculture, generating more than 281 million jobs. Rimjhim Saikia, an entrepreneur and WASME's joint director, said small and medium enterprises were contributing to transform India into a developed nation. 'We are progressing towards that and a big role is being played by the MSMEs,' Saikia told Arab News. She said she had witnessed more engagements between India and the Middle East in her sector, adding that there was 'a lot of scope for Indian MSMEs to join hands' with their counterparts from the region. 'This is the right time, I would say, for Indian SMEs to actually look towards the Middle East,' she said. Many small and medium businesses are collaborating with Middle Eastern countries in prominent sectors, including hospitality, pharmaceuticals and textiles. Having brought over two dozen Indian entrepreneurs to Saudi Arabia herself last September, she said the Kingdom's Vision 2030 transformation project in particular held massive potential. '(The) 2030 vision is very important for Saudi, but that also holds a lot of importance for Indian MSMEs because, with the Vision 2030 opens up a plethora of opportunities … both in the manufacturing and the trading sector,' she added. 'I think for everyone, every MSME, there is a lot of hope for a very good … future in the Middle East, particularly in Saudi (Arabia) for expanding their business.'
Times
2 days ago
- Business
- Times
Industrial and trade strategies get cautious welcome from BCC
The leaders of regional chambers of commerce have given the government's industrial and trade strategies a tentative thumbs up. 'We'd be foolish not to feel more confident, but we have to step in with caution,' said Dawn Whitemore, chief executive of East Midlands Chamber, speaking at the British Chambers of Commerce's annual conference in London on Thursday. Sir Keir Starmer used the event as a platform to announce the government's trade strategy, which leverages the three trade deals struck so far with India, the United States and Europe. It followed the release of the government's long-awaited industrial strategy on Monday. Whitemore said the three deals 'are a start … But when you look at some of the details, it's not so great for our country. With all due respect, it's the start of something, but we haven't actually secured what I would hope for as a business.' During his speech, Starmer said the trade strategy would expand the capacity of the government's export credit agency, UK Export Finance, by £20 billion, and assured the audience of business leaders that the government would reduce the frictions that have made trading overseas more difficult. Ruth Ross, chief executive of Shropshire Chamber of Commerce, said the publication of the trade strategy meant she and her members knew what they're 'playing with' now. However, 'it doesn't mean there's any less red tape', she added. Ross said: 'Businesses are struggling. You can't keep throwing costs at people and expect them to make money from it. We've got some of our members looking at all their costs and wondering if it's actually cheaper to make their products in another country, to then bring them back. That can't be right, can it?' Other regional chambers were more positive about the impact of the government's plans. Colin Marr, chief executive of the Inverness Chamber of Commerce, said both strategies were 'going in the right direction' and that the government had produced something 'sensible, relatively accountable and set relatively good targets'. Marr said that there was not enough information yet about how businesses would navigate the trade strategy, but that chambers of commerce would be there to help when they did. 'I can be very complimentary about the industrial strategy and the trade strategy, but the national insurance burden is enormous. What we're seeing now is people beginning to slow down employment — and that's not good for anyone,' Marr said. The prime minister acknowledged the burdens that have been placed on businesses following the last budget's increase in taxes and costs. • 'Freeze taxes' says business lobby after national insurance hit In her speech, Shevaun Haviland, director general of the British Chambers of Commerce, warned the government that taxing businesses further could endanger its 'growth mission', after research conducted by the lobby group showed businesses have made or plan to make redundancies due to national insurance increases. Lucy Druesne, deputy chief executive of Kent Invicta Chambers of Commerce, picked up on this point, saying that despite some 'good signs' it was vital that 'businesses don't pay the bill again'.
