- Temperatures dropped across Brazil on Thursday - with rare snowfall overnight in some places - as a polar air mass advanced toward the center-south of the global agricultural powerhouse, threatening coffee, sugarcane and orange crops with frost. Cars, streets and highways were blanketed in ice while people took the opportunity to take pictures and play in the snow, building snowmen.
At one of Ecuador's oldest flower farms, workers are planting hemp on land that traditionally used for roses, making a bet that selling cannabinoid products will help offset the decline in flower sales caused by the pandemic.
U.S. agricultural commodities trader Bunge Ltd (BG) raised its full-year adjusted profit outlook on Wednesday after stronger-than-expected food and renewable fuel demand for its vegetable oils drove a 41% jump in quarterly income.
Argentine farmers have sold 25.8 million tonnes of soybeans from the current 2020/21 crop year, after transactions were recorded over the last week for 747,600 tonnes, the Agriculture Ministry said on Tuesday in a report with data through July 21. The pace of soy crop sales is behind that of the previous season.
U.S. grain merchant Archer-Daniels-Midland Co (ADM) on Tuesday reported quarterly profit leapt 52% due to strong exports and oilseed crushing margins. The bigger-than-expected earnings sent shares to a two-week high and extended a recovery from the COVID-19 pandemic, which last year hurt demand for the company's ethanol and food products.
Archer-Daniels-Midland Co (ADM) reported an almost 52% rise in second-quarter profit on Tuesday, as strong crop export demand and oilseed crushing margins boosted the U.S. grains merchant's core agricultural services business. Net earnings attributable to ADM rose to $712 million, or $1.26 per share, in the three months ended June 30, from $469 million, or 84 cents per share, a year earlier.
Arabica coffee prices rose 10% more on Monday, after jumping nearly 20% last week, to their highest in nearly seven years as unusual cold weather threatens coffee crops in the world's largest producer Brazil.
Arabica coffee prices surged on Monday to their highest in more than 6-1/2 years as top producer Brazil faced the prospect of crop-threatening frosts for the second week in a row. Coffee trees are extremely sensitive to frost, which can cause severe damage and even kill trees completely.
The world must ensure access to food supplies as forcefully as it moved to ensure access to vaccines, Italian Prime Minister Mario Draghi said at the opening of the United Nations Food Systems Pre-Summit in Rome. "The health crisis has led to a food crisis," he said, citing data showing malnutrition in all its forms has become the leading cause of ill health and death in the world.
The world's largest meatpacker JBS SA has imported 30 ship loads of corn into Brazil from Argentina after a drought and an ill-timed frost caused crop failure in its home market, according to a statement sent to Reuters.
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