Archived News

CHICAGO, Aug 26 (Reuters) - Asian soybean rust fungus has not beendetected in Iowa soybean fields, despite recent farmer concerns about adisease that turns upper leaves a yellowish-brown or rusty color, an IowaState University professor said."We want to reassure Iowa soybean growers that soybean rust has notbeen found anywhere in the United States this year, and it appears thatthe disease will not arrive at all during the 2004 growing season," GregTylka, Iowa State University professor of plant pathology in a statement,said in a statement late Wednesday.Iowa was the second-largest U.S. soybean producing state last year.Soybean rust, which has cut South American soybean yields, has neverbeen reported in the continental United States, the world's top soybeanproducer. Hawaii was infected in 1994.However, scientists believe the windborne fungus will spread into theUnited States once it moves north of the equator.On Thursday, U.S. Department of Agriculture Secretary Ann Veneman saidshe had no confirmation that the disease had been found in Cali, Colombia,about 5 degrees north of the equator.The USDA estimates an outbreak of Asian soybean rust could cost U.S.farmers between $640 million and $1.3 billion in its first year.Instead of rust, Iowa farmers appear to be seeing Cercospora leaf spotdisease or sunburn, which causes the undersides of leaves to turn a bronzecolor, Tylka said. Yield loss from Cercospora leaf spot is usually slight,he added.Cercospora leaf spot can be seen at the beginning of the pod-fillingstage as a mottled purple to orange discoloration of the uppermost leaves,he noted. While the discoloration is most visible on the undersides ofleaves, it can also be seen on the upper leaf surfaces.When the plant is approaching maturity, the leaves will turn orange orbronze, he said.Severe infection can cause the early death of leaves, while infectionof the seeds can cause a purple discoloration of the seed coat which cancause poor seed vigor and reduced germination if planted the next year,Tylka said."Cercospora leaf spot is fairly common in Iowa during this time of thegrowing season, and turns the upper soybean leaves a yellowish brown colorthat some might describe as 'rusty' looking," Tylka said.

WASHINGTON, Aug 26 (Reuters) - New Chinese regulations will not hinderthe country's imports of American soybeans and other commodities, the Bushadministration said on Thursday following a meeting with a Chineseofficial."The assurances provided by the government of China today should helpalleviate the concerns of farmers and exporters as they prepare for thefall harvest and shipping season," said Allen Johnson, the top U.S.agriculture trade negotiator.China is a vast market for U.S. and South American soybeans. In 2003,the United States shipped almost $2.9 billion worth of soybeans to Chinaand Hong Kong, making it the largest export crop.Johnson and U.S. Agriculture Undersecretary J.B. Penn met on Thursdaywith acting Chinese Ambasssador Lan Lijun about the import regulationdealing with inspection permits that American officials said inhibitedsoybean trade.According to a U.S. government statement, China said the new regulationwas intended to extend the validity of quarantine inspection permits tosix months from three months "and would not interfere with U.S. exports ofsoybeans to China."Soybean trade with Brazil and Argentina has been disrupted in recentmonths because of Chinese concerns about a fungicide called carboxin.In past years, U.S. soybean exports have been interrupted by unclearrules pertaining to genetically-modified crops, such as American-grownsoybeans.

8/27/2004 PANAFRICAN NEWS AGENCY (PANA) DAILY NEWSWIRE - Accra, Ghana -The Ghana Foods and Drugs Board has warned exporters of palm oil to desistfrom mixing the commodity with chemicals injurious to the health ofconsumers.

8/27/04 INDIA (Oilmandi) - RECENT news reports uncovering the highlyirregular clearance of edible oil consignments at lower rate of customsduty than applicable, especially in minor ports such as Bedi in Jamnagar(Gujarat), have unnerved many players.

Saturday August 28, 2004 - Sime Darby Bhd's unaudited results for the yearended June 2004 were within expectations. In addition, the management saysearnings for financial year 2005 are likely to grow by an uninspiring 3%to 4%. Naturally, most of the analysts' latest recommendations are equallytepid.

8/27/2004

8/26/2004 BNamericas.com - Brazil's federal government is planning toreduce taxes on biodiesel to encourage the use of the alternative fuel inthe country, local press reported.

SAO PAULO (Dow Jones)--Brazil's soybean farmers chose to hold on tostocks over the last week, largely ignoring gains in local andinternational prices, traders said."You always get a little business but farmers are now inclined to waitto see how far prices will rise," said David Brew of the PortoAlegre-based Brasoja brokerage.At the port of Paranagua, soybeans were trading at 44.00 to 44.50Brazilian reals per 60-kilogram bag ($1=BRL2.95) on Thursday, rising fromBRL41.50 to BRL42.50 last week.Gains would have been greater were it not for the strengthening of theBrazilian real, quoted at 2.95 to the dollar on Thursday compared with2.99 some seven days before.Farmers appear not to have a strike price at which they are willing tosell, traders said. Rather, they are waiting to see the extent of thelosses to the U.S. crop and then calculate possible gains, said SteveCachia of the Curitiba-based Cerealpar brokerage.Farmers will probably begin to sell more of their crop once the billsfor next-crop inputs start coming due in September, Brasojas Brew added.Traders registered exports of just 180,000 metric tons in the firsthalf of August, well down from the 478,000 tons sold in the previous 15days and down from the 651,000 tons sold over the same period last year.Farmers are also reticent about selling next years crop. Brazil'sproducers had sold just 4% of their potential-record 2004-05 soybean crop(October-September) up to last Friday compared with 21% at the same stagelast year, according to local agricultural consultants Celeres.Business was strongest at port over the last two days.Discounts for September soybean shipments from Paranagua againstSeptember soybean futures on the Chicago Board of Trade stood at 65 centsto 75 cents over during the past week, compared with $0.50 to $0.60 perbushel quoted the week before.After six months of record discounts in the post-harvest period,stronger demand from Asia is bolstering strong premiums, traders said."And with farmers holding out to sell, this situation may continueinto the start of next year," said one Sao Paulo-based trader.

BEIJING, Aug 26 Asia Pulse - It is expected that China's oil crops supplywill be sufficient in the 2004/2005 year, and the supply of edible oil mayeven go surplus.

WASHINGTON (Dow Jones)--China, responding to concerns raised by U.S.government officials, has offered assurances that its new agricultureimport regulations "will not interfere with trade in U.S. soybeans andother commodities," the U.S. Department of Agriculture and the Office ofthe U.S. Trade Representative said Thursday.Chief U.S. Agriculture Negotiator Allen Johnson said in a preparedstatement: "The assurances provided by the government of China todayshould help alleviate the concerns of farmers and exporters as theyprepare for the fall harvest and shipping season."Those assurances, delivered to the U.S. via Lan Lijun, China's actingambassador to the U.S., were presented Thursday to Johnson an USDA UnderSecretary J.B. Penn."Soybeans are America's largest export crop, and China is the largestsoybean export market," Penn said. "Continued access to the Chinese marketis a high priority for American agriculture, and this administration isworking to ensure that China continues to abide by its market accesscommitments."Despite China's assurances, Johnson and Penn said they will continueto request that China rescind a new rule it enacted that requires allcontracts for soybean imports and other products be subject to thequarantine entry process and include Chinese quarantine requirements as acontract term. The U.S. exported $2.9 billion worth of soybeans to Chinain 2003, according to the USDA.

8/26/04, INDIA (Oilmandi) - The Centre is considering cutting base importprices of palm oils and crude soya oil to control record high inflation,officials said. Inflation surged to a new 3-1/2-year high of 7.96% in theweek ended August because of rising fuel and commodity prices, which havetracked global trends.

NEW DELHI (Dow Jones)--India edible oil prices are expected to inch upover the next month because of supply disruptions amid a truckers'strike and later-than-usual harvesting of the oilseeds crop."Right now the truckers' strike has not led to sharp rise in edibleoilprices, but if the strike prolongs for more than a week, it could lead toprice increases in consuming centers," said Atul Chaturvedi, vicepresident of Adani Exports, one of India's biggest trading houses.Chaturvedi said the strike by truckers has led to imported edible oilconsignments being stuck at ports, but added there are enough inventorieswith most traders to tide over the next few days.Traditionally, the country depends more on imported edible oils duringAugust and September as edible oil from the new crop only starts coming inby September.Any disruption in the supply chain therefore, is a concern in duringthis period.India annually imports around 5 million tons edible oils, of which 74%is palm oil from Malaysia and Indonesia.India's truck operators started a strike Saturday, protesting the levyof a new service tax on them. Initial talks between transporters and thegovernment haven't been successful.Earlier this week, truck operators said they are prepared to stay offthe roads until the government meets their demands.Groundnut oil prices were quoted around 47,800 rupees a metric ton($1=INR46.34) Wednesday, compared with INR47,600/ton last month. Soyoilclosed at INR46,800/ton Wednesday, compared with INR45,800/ton a monthago.