3 Big Things Today, February 10

Soybean, Grain Futures Decline Overnight; Ethanol Production Rises Again to Record. 

1. Grains, Beans Again Lower Overnight After Rising in Day Session

Soybeans and grains again swung to overnight losses as overseas investors are seemingly more worried about export demand than their U.S. counterparts.
Prices recently have declined overnight but rebounded during the U.S. trading session. Societe Generale said in a note to investors that a trade war with China would be harmful to soybean prices in Chicago and would benefit those in South America.

President Trump has suggested he would put levies on imports from certain countries, though his focus since taking office has been on Mexico rather than China. Talk about imposing a border levy on Mexican goods has some agriculture groups worried that it will slow exports of U.S. goods.
Soybean futures for March delivery fell 2¾¢ to $10.34 a bushel overnight on the Chicago Board of Trade. Soy meal futures lost $2.10 to $333.90 a short ton, and soy oil rose 0.17¢ to 34.48¢ a pound.
Wheat for March delivery declined 2¼¢ to $4.31½ a bushel in Chicago, while Kansas City futures fell 1¾¢ to $4.38¾ a bushel.
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2. Ethanol Production Jumps to Record For Fourth Time in Five Weeks

Ethanol production jumped to a record for the fourth time in five weeks in the seven days that ended on January 27, according to the Energy Information Administration.
Output in the U.S. totaled a record 1.061 million barrels a day, on average, up from 1.051 million the prior week, the EIA said in a report. Production returned to a record after falling off slightly in the week that ended on January 20.
Stockpiles of the biofuel, meanwhile, rose to the highest level in nine months. Inventories rose to 21.87 million barrels, up from 21.728 million the prior week, the highest since April, according to the EIA.
The increased ethanol production is good news for farmers as producers used 108.9 million bushels of corn in the week, according to data from INTL FCStone Chief Economist Arlan Suderman.
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3. Winter Storm Hovers Over Black Hills; Little Snow Expected in Iowa, Nebraska

A winter storm warning is still in effect for parts of northeastern Wyoming, southwestern South Dakota, and northwestern Nebraska, according to the National Weather Service.
“Snow is expected to be moderate at times late this afternoon and evening over the Black Hills area and especially over southwestern South Dakota,” the NWS said in a report this morning.
From 2 to 6 inches is expected to fall in the area with higher amounts likely over parts of the Black Hills, the agency said. The storm began yesterday but seems to have stalled out and is hovering over that specific region for now.
Some light snow is expected for parts of western Iowa and eastern Nebraska today, but little accumulation is expected, according to the NWS.

Obaseki to make Edo state foremost Agribusiness hub in Nigeria

Edo state governor, Godwin Obaseki has disclosed plans to make the state the focal point for agribusiness in Nigeria.

The Governor who made the disclosure during a 3-day agribusiness workshop at the Randekhi Hotel in Benin City with the theme: “Harnessing resources and opportunities to optimize agribusiness in Edo State” expressed that his administration would be initiating strategies that could enhance agricultural development, create jobs and guarantee food security.

“While we must continue to encourage small farm holdings to improve and obtain modern technology, we must address the policy of mechanization, characterization using technology’’, he explained.

He also informed that the state government had promised to work with the federal government to revitalize arable lands for optimum use.

Meanwhile, the Chairman, Wells Sam Calos Farm, Hosa Okunbor, has commended the initiative of the state government on agricultural development and food security.

He however urged all the stakeholders to work with the state government towards achieving the agricultural development plan.

Enugu Community appeal to Govt to repair Farm Roads

The people of Agabi Kingdom, Ihuokpara, in Nkanu East Local Government Area of Enugu State, have appealed to the state government to repair the bad roads which continues to impede agricultural development in the community.

Addressing the crowd at the Enugu yam festival recently held in Ihuokpara, the traditional ruler, Igwe Fidelis Ogbu Nwatu, Eze Agabi II of Agabi Kingdom lamented that the deplorable state of the roads in the community.

“Our community is a big farming agent in the state. We farm rice, Fadama III participants are in this community, yam, cassava and other vegetables. Our market attracts people from Enugu, Akpugo, Agbani, Nara, Ugbawka and other neighbouring communities, all of who need good road to enter Ihuokpara”, he said.

He called on the governor to provide good roads that will enable the people contribute to feeding the world.
Also speaking at the event, the President General of Umuokpara, Alexander Nnamani, informed that the people of the community had been marginalized because of the bad roads.

“We have been marginalized badly in terms of roads, people cannot access our community easily and our people are predominately famers. During the rainy season, nobody comes home and our parents are in pains. When they produce things in their farms, no road to take them out to sell and make money.” he said.

Scent leaf: beyond the kitchen

The scent leaf Ocimum gratissimum  is not just a kitchen-friendly herb used in numerous culinary creations. The plant  which hails from Africa and grows in  other tropical regions, also has reputed health benefits.

In Nigeria, The Yorubas call it Efirin, the Igbos call it Nchanwu, the Ibibios call it Ntong and the Hausas, Daidoya.

Here are some amazing benefits of the scent leaf Ocimum gratissimum

• Scent leaves can be used to treat stomach ache, diarrhoea, chronic dysentery and vomiting.
• Scent leave aids digestion
• When left to dry and burnt, this leaves could serve as a mosquito repellent.
• Scent leaves seeds can be infused for treating urinary infections, gonorrhoea infection, vaginal douches for vaginitis.
• Scent leaves are high in calcium,phophurus , iron, potassium, carbon and vitamin A.
• The essential oil of this leaf contains eugenol, thus having antibacterial properties.
• Mashed scent leaves are also used in treating skin diseases such as ring worms.
• Scent leaves can also be used in treating aches and reliefs from colon pains.
• Scent leaves can also be used in the prevention and treatment of malaria, cough, catarrh and fever.
• Scent leave has immense health benefits such as easy bowel evacuation and weight management.

Obaseki, Investors, Others Inspect Fertilizer Plant In Auchi, Okpella

Edo State governor, Mr. Godwin Obaseki has assured Edo people that the abandoned fertilizer plant at Auchi would be up and running in the next three months, creating the first set of employment to the people.

Obaseki made the disclosure while speaking with Journalists on Saturday shortly after he made an on-the-spot assessment visit to the site with the Managing Director of the Nigerian Sovereign Wealth Fund along with other investors in Auchi, Etsako West local government area.

“Well as you can see for yourselves, this is the type of industry they said they built for us when they said they were going to industrialize Edo.

“We have come with some investors, Mr. Uche Orji is the Managing Director of the Nigerian Sovereign Wealth Funds and you know that they have a programme for fertilizer and agriculture in the country.

“So we have brought them to come and see this facility and to see what we can do to reactivate it; that is the purpose of our being here”.

He said “depending on how quickly we can move with investors; we have some interests from the private sector who understand the fertilizer business and we will get them to come and invest with us. From the positive indications, we believe that we can get this factory running before April,’’ Obaseki said.

On his part Orji, lamented the loss of billions of naira by Edo state these years saying, “with this type of facilities in the state, Edo state has been missing lots of opportunities with a factory like this,’’ he said.

According to him, “once the governor and the investors have agreed, I don’t think it will take too long to get this plant running”.

“Our objective as the governor has mentioned, is to put the raw materials into this plant and have it to start working,’’ Mr. Orji said.

He said “the president has presidential initiative for fertilizer, and the idea is instead of importing finished fertilizer, we bring in the component and blend it locally.

“If you do that, price will come down significantly and luckily, Edo is a state that has lots of raw materials needed.

“So this should be a natural advantage for Edo state to start which will employ alot of people.

“It will also at the same time, bring alot of advantages with it; bring down the prices of fertilizer for the farmers that is the idea of the presidential special programme,’’ he said.

Mr. Thomas Etu, President Fertilizer Producers Association of Nigeria, who described the abandoned fertilizer plant as a great facility said “with some little investments, this factory will be up and running in the next two to three months”.

Etu said that, “with the presidential initiative on ground, it is a place that jobs would be created, as we are looking at a minimum of one thousand people being on a train of shifts running in this factory and the prices of fertilizer would come down and become affordable to the farmers at N5,500.

“While the product will be sold here at the plant at N5,000 per bag;  so it is a great opportunity and we should be thanking the governor for showing interest to look at this plant and see how it is going to be beneficial to everybody in the state,’’ he said.