Archived Posts

News Flash: February 5, 2015

INDUSTRY

China media: Green light to GM crops

China is currently a major importer of GM produce including soya beans, rapeseed, cotton and corn, according to Chinese newspapers. “GM technology is very promising and we must stand on top of GM research as China has quite limited agricultural resources,” said Han Jun, a senior Communist Party official for agriculture, according to the Global Times. These remarks were in response to the government’s first policy document of 2015 on Sunday which stressed the need to increase competitiveness and innovation in the country’s farming sector. BBC News

Many G.M.O.-Free Labels, Little Clarity Over Rules

The industry debate concerning food labeling on genetically modified foods continues to heat up. While the debate continues between interest groups, advocates, state legislatures, and in Congress over the disclosure on product labels, manufacturers are adding to the public debate by adding “non- G.M.O.” to their packaging without prior verification. “We’ve put it on our labels because it was something our customers wanted to know,” said Hitesh Hajarnavis, chief executive of Popcorn Indiana, which sells ready-to-eat popcorn. New York Times

BIOFUEL

China Encourages Biodiesel Production, Promotion

A biodiesel industry development policy was issued by China’s National energy Administration to propose the establishment of a sustainable raw material supply system. This system would abandon oil and fat, while using woody and herbal non-edible oils in its place. The system would also regulate biodiesel production and application, as well as build swill-cooked dirty oil using channels. The policy encourages key regions in China that prevent air pollution to promote biodiesel and encourage governed transportation to use biodiesel blending fuels. Soyatech

CANOLA

ICE Canola Stronger With US Soy

The majority of ICE Canada canola contracts were higher on Tuesday morning in conjunction with the US soy complex. European rapeseed futures were also higher, supporting these values. Traders are likely to position themselves ahead of the statistics for Canada’s grain stock report statistics for Wednesday. Malaysian palm oil values may show contrast to the gains supporting Canada’s values. A report says Canadian canola supply is considered to be generous by many industry watchers. Grain News

 CORN

USDA Confirms Record Corn and Soybean Crops

The USDA has confirmed a record for 2014 corn and soybean crop with the final estimate results. These results are reflective of the capacity of U.S. agriculture yields when almost ideal weather occurs throughout the growing season. The total corn supply for the 2014-2015 marketing year reached about 786 million more bushels than in 2013-2014, totaling about 15.5 billion bushels. Courier Press

PALM

Palm Oil Climbs Most in Four Years on Indonesian Biofuel Subsidy

Palm oil advanced the most in more than four years due to Indonesia’s plans to boost biodiesel subsidies, which would expand palm demand. The Parliament’s energy commission and the Government approved a 4,000 rupiah ($0.32) a liter increase, from a prior 1,500 rupiah rate. The directorate general for oil and gas said the proposal still needs to be passed by Parliament’s budget committee. This increase would lead to positive margins for biodiesel producers which were affected by plunging petroleum costs in the past year. Bloomberg Business

SOYBEAN

UA Scientists Develop Non-GMO Super Soybean

Scientists at The University of Arkansas Division of Agriculture have developed a new non-genetically modified soybean. This soybean development could improve Arkansas’s $2 billion industry by not only producing more protein than average, but also increasing the bushels per acre compared to most conventional soybeans. The soybean offers potential to improve feed efficiency for poultry, beef, and aquaculture producers, as well as yield potential for row-croppers. “It’s an important discovery as a feed meal ingredient,” said Rick Cartwright, associate director at the University of Arkansas Cooperative Extension Service. “This has a significant increase in protein control for conventional soybeans. It’s raised the bar.” Bloomberg Business