Headlines:
- Privately-owned Algerian dairy company, Tifralait, has signed a deal to set up ag projects with the U. S. company, American International Agriculture Group. The agricultural projects are worth $ 300 million and will include projects covering cereals, potato, fertilizers, dairy and cattle feed on an area of 25,000 hectares in the North African country
- Proliferation of Bird Flu Outbreaks Raises Risk of Human Pandemic
The global spread of bird flu and the number of viral strains currently circulating and causing infections have reached unprecedented levels, raising the risk of a potential human outbreak, according to disease experts. Multiple outbreaks have been reported in poultry farms and wild flocks across Europe, Africa and Asia in the past three months. While most involve strains that are currently low risk for human health, the sheer number of different types, and their presence in so many parts of the world at the same time, increases the risk of viruses mixing and mutating – and possibly jumping to people. “This is a fundamental change in the natural history of influenza viruses,” Michael Osterholm, an infectious disease specialist at University of Minnesota, said of the proliferation of bird flu in terms of geography and strains – a situation he described as “unprecedented”.
Summary:
Wheat futures rallied on large weekly export expectations. Soybean and Corn futures were not as strong giving way to some pressure from potential trade concerns. The uncertainty of what types of “deals” that newly elected President Trump will be able to strike now that he has moved forward with resolutions to pull out of NAFTA and TTP. Interestingly enough there has been no talk or coverage of TISA (Trade in Services Agreement) which is veiled in secrecy. The agreement covers about 70% of the global services economy. Some claim that the aim of TISA is the privatization of worldwide trade in services in areas such as banking, healthcare and transport. Services comprise 75% of American economic output; in EU states, almost 75% of its employment and gross domestic product.
The prospects for a swift resolution to a NAFTA renegotiation receded when the Mexican president cancelled a trip to Washington.
Wheat export sales came in strong at 853,400 tonnes for the 2017-18 marketing year. That was more than double trade expectations and by far the highest for the marketing year. Corn export sales comfortably beat expectations, at 1.37m tonnes in 2016-17. Soybean export sales came in at the lower end of trade expectations at 539,400 tonnes for the 2016-17 marketing year. Weather risk in South America is easing a bit so there is some pressure on Beans from that easing of concern.
Corn was down 2.50, Soybean down 6.75 and Wheat up 2.50.
