3 BIG THINGS TODAY, MARCH 31

CORN, BEANS LOWER OVERNIGHT; EXPORT INSPECTIONS MIXED WEEK OVER WEEK.

1. CORN, SOYBEANS LOWER OVERNIGHT ON FAVORABLE SOUTH AMERICAN WEATHER

Corn and soybean futures were lower in overnight trading on favorable weather conditions in South America.

About 2 to 4 inches of rain fell in central and northwest Mato Grosso, a major growing state in Brazil, over the weekend, according to Commodity Weather Group. Frequent showers in areas where the safrinha corn crop is being grown have limited concerns about dryness, the forecaster said.

In some areas of southern Brazil where too much rain fell recently, a drying trend continues this week, which will help ease wetness concerns, CWG said.

Corn futures for May delivery lost 1½¢ to $3.62 a bushel overnight on the Chicago Board of Trade.

Soybean futures for May delivery declined 1¾¢ to $9.97¾ a bushel. Soy meal fell $1.4 to $325.2 a short ton, and soy oil rose 0.16¢ to 32.90¢ a pound.

Wheat futures for May delivery dropped 2¢ to $4.28¼ a bushel, and Kansas City wheat declined 3¼¢ to $4.42 a bushel.

**                                                                                

2. CORN INSPECTIONS DOWN WEEK OVER WEEK, SOYBEAN INSPECTIONS IMPROVE

Inspections of corn for export by the U.S. Department of Agriculture fell week over week, while soybeans saw an increase.

Government officials inspected 1.33 million metric tons of corn for overseas delivery in the seven days that ended on March 16, the USDA said in a report. That’s down from 1.57 million the prior week.

Despite the lower week-over-week totals, inspections since the start of the marketing year on September 1 have almost doubled to 30.3 million tons from 17.6 million during the same time frame a year earier, according to the USDA.

Soybean inspections rose to 737,255 tons from 676,560 tons a week earlier, according to the department.

For the marketing year, soybean inspections have risen to 45.8 million tons from 41 million during the same period last year.

Wheat inspections last week totaled 624,334 metric tons, up from 544,166 tons a week earlier. Since the start of the wheat marketing year on June 1, the USDA has inspected 20.7 million tons of the grain for shipment to overseas buyers, well above the 16.1 million during the same time frame a year earlier, the agency said.

Get today’s news sent to your in-box by signing up for Soxagro newsletters.

**

3. POSSIBILITY OF RAINFALL CREEPS INTO SOUTHERN PLAINS WEATHER FORECAST

The possibility of rain has crept its way into the Southern Plains forecast for later this week, which would bring much-needed relief to the region.

There’s a marginal risk that a thunderstorm will develop on Thursday afternoon into the evening in the region, the National Weather Service said in a report on Tuesday morning.

The storms, however, could be accompanied by hail and strong winds, which likely wouldn’t be ideal for delicate plants that have recently emerged from winter dormancy. Still, precipitation would be welcome.

Little or no rain has fallen in at least the past 30 days in much of the Southern Plains including southwestern Kansas and the Oklahoma and Texas panhandles, NWS data show.

CONTEST OFFERS GRAIN BIN RESCUE EQUIPMENT

When farmers become trapped in grain bins and other storage facilities, the ending is usually not a happy one. According to Purdue University researchers, more than 900 cases of grain engulfment have been reported over the past 50 years with a fatality rate of 62%.

With the proper equipment and training, however, fire departments and other first responders can increase the odds of a successful rescue.

For the fourth year in a row, Nationwide is awarding grain rescue tubes and specialized hands-on training to first responders. “Deploying a grain rescue tube is the only way to safely remove someone trapped in grain,” says Brad Liggett, president of Nationwide Agribusiness. “Until we can convince all farmers and other grain handlers to develop a zero-entry mentality, we will continue to make tubes available.”

Since the program’s inception, 32 fire departments in 15 states have been awarded rescue tubes.

To learn more or to nominate your local fire department, visit grainbinsafetyweek.com. Nominations are due May 31.

Postharvest loss alliance for nutrition

These infographics present ideas on Post harvest loss alliance for nutrition developed by the Global Alliance for Improved Nutrition (GAIN).

Jamaica bans importation of corned beef from Brazil

The Ministry of Industry, Commerce, Agriculture and Fisheries of Jamaica have placed an indefinite ban on importation of corned beef from Brazil.

This decision followed a report from the Brazilian authorities that companies supplying meat had been selling rotten beef and poultry. They were also alleged to have been bribing auditors in exchange for fake licences.

The Minister of Industry, Commerce, Agriculture and Fisheries,  Karl Samuda called an emergency meeting at the ministry’s Hope Gardens office emphasising  the need to protect consumer affairs.

The meeting was attended by officials from the ministries of Industry, Commerce, Agriculture and Fisheries; Health, and Consumer Affairs.

The meeting resolved that a temporary hold would be placed on all permits for the importation of corned beef from Brazil. It was agreed that corned beef in the market would be withdrawn for precautionary reasons. This implies that the nation’s Food Recall Committee will meet to determine the next step and inform the consumers when the product is safe.

Karl Samuda also held a meeting with major distributors and importers of corned beef.

Consumers have been advised to beware of corned beef for now. In the meantime, the Bureau of Standards, Jamaica will conduct chemical tests on the contents of corned beef in the market while the Veterinary service division of the ministry will conduct microbiology and residue tests to determine the presence of contaminants.

Buhari approves appointment of CEO, Executive Directors of BoA

President Muhammadu Buhari has approved the appointment of an interim Managing Director/Chief Executive Officer, as well as Executive Directors for the Bank of Agriculture.

The appointments were announced by the Federal Ministry of Agriculture and Rural Development on Thursday in a statement issued by the Deputy Director, Information, Mrs Lere -Adams Blessing.

The ministry explained that the appointments would support the administration in realising its vision of boosting agriculture across the country, through ensuring availability of funds needed for the development of the sector.

“This appointment is as a result of the Federal Government’s determination to reposition the Bank of Agriculture to be a more efficient and result oriented institution. The strategic re-positioning of BOA will enhance farmers accessibility to agricultural funds that will be profitable for large and small scale player” it stated.

According to the statement, the availability of funds will no doubt increase production which will eventually result in self-sufficiency.

The appointees include Kabiru Mohammed, Interim MD/CEO; Prince Akenzua, Executive Director, Corporate Finance, South-South; Dr. Okenwa Gabriel, Partnerships and Strategy, South-East; Ameh Owoicho, Executive Director, Credit and Empowerment, North Central; and Olabode Abikoye, Executive Director, Credit and Empowerment, South West.