COMMENT – Tension between China and Australia over commodities trade being seen as former flexing its muscle

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Australia’s ties with top trade partner China soured in 2018 when it became the first country to publicly ban China’s Huawei from its 5G network, and worsened after Canberra called for an enquiry into the origins of the coronavirus. Tit-for-tat diplomatic reprisals have since followed, including raids on the homes of Chinese journalists in Australia, […]

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Global food commodities index rises as prices of several staples reach multi-month highs

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The global benchmark price index for food commodities rose in September, led by vegetable oils and cereals, according to a report from the Food and Agriculture Organization of the United Nations. The FAO Food Price Index averaged 97.9 points during the month, up 2.1 percent from August and 5.0 percent higher than its value in September 2019. […]

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Non-US coarse grain output outlook lower for 2020/21; trade higher – USDA

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This month’s 2020/21 foreign coarse grain outlook is for lower production, slightly higher trade, and reduced stocks relative to last month, the U.S. Department of Agriculture (USDA) said in its latest supply and demand estimates report. “EU corn production is lowered, mostly reflecting reductions for Romania and France that are partially offset by increases for […]

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Record wheat and barley harvests seen lifting world grains output by 40 million tonnes in 2019/20

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Record harvests of wheat and barley are expected to outweigh a poorer maize crop to lift world total grains — wheat and coarse grains — production by 40m t in 2019/20, to 2,177m, only modestly below the all-time peak in 2016/17, the International Grains Council (IGC) said in its latest monthly report. Consumption is forecast to climb […]

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Global cereal production heading for a record high in 2019, says FAO

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FAO’s latest forecast for 2019 world cereal production is pegged at an all-time high of 2 714 million tonnes, up some 0.4 percent from the November figure and now almost 57 million tonnes (2.1 percent) above the reduced outturn in 2018. The month-on-month increase primarily reflects an upward revision to world coarse grains production, associated with higher-than-previously […]

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