Brazil soy crop view revised twice in a day showing opposing trends, consultancies say

An agribusiness consultancy on Friday raised the forecast for Brazil’s 2023/2024 soybean crop while another cut its projection, indicating how different methodologies and unpredictable weather events have made it difficult to estimate the country’s output this season. StoneX raised its soy forecast...

https://www.hellenicshippingnews.com/brazil-soy-crop-view-revised-twice-in-a-day-showing-opposing-trends-consultancies-say/

BHP to restructure some global corporate roles as it looks to trim costs

The world’s biggest listed miner BHP Group BHP.AX said on Thursday it was disbanding some global teams and transferring those roles covering functions including planning, environment and heritage protection to its mining asset-level management. BHP employs more than 80,000 people in staff and...

https://www.hellenicshippingnews.com/bhp-to-restructure-some-global-corporate-roles-as-it-looks-to-trim-costs/

Financial investors reduced net long position in Euronext wheat

Non-commercial market participants reduced their net short position in Euronext’s milling wheat futures and options in the week to Feb. 23, data published by Euronext showed on Wednesday. Non-commercial participants, which include investment funds and financial institutions, reduced their net short...

https://www.hellenicshippingnews.com/financial-investors-reduced-net-long-position-in-euronext-wheat/

Brazil’s Abiove cuts 2024 soybean output estimate for second time this month

Abiove has cut its estimate for Brazil’s 2024 soybean output for the second time this month, the association representing global grain traders and crushers operating in Brazil said on Wednesday. Abiove now expects local farmers to produce 153.8 million metric tons of soybean, down from the 156.1...

https://www.hellenicshippingnews.com/brazils-abiove-cuts-2024-soybean-output-estimate-for-second-time-this-month/

Palm climbs on rival oils, traders await major industry conference

Malaysian palm oil futures traded up on Thursday, tracking strength in rival oils on the Dalian, while the market is waiting for leads from a major industry conference due to be held in Kuala Lumpur next week. The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives...

https://www.hellenicshippingnews.com/palm-climbs-on-rival-oils-traders-await-major-industry-conference/

Indonesia 2024 palm oil output seen rising by 5% year-on-year – GAPKI

Indonesia’s palm oil output this year is expected to rise by 5% year-on-year to 57.6 million metric tons as more newly matured crops come into fruition, the Indonesia Palm Oil Association (GAPKI) said on Tuesday. In 2023, palm oil output grew by 7% from the previous year to 54.84 million tons...

https://www.hellenicshippingnews.com/indonesia-2024-palm-oil-output-seen-rising-by-5-year-on-year-gapki/

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