Global organic soybean traders are looking to Nigeria to help fill some of the shortfall in exports from West Africa. Nigeria is a relatively wealthy and influential country in the region, and consumption patterns drive soybean production. Virtually all the organic soybeans and derivatives are exported.
Nigeria is a major producer of soybeans in Africa, second only to South Africa in Sub-Saharan Africa (SSA). Domestic consumption of conventional soybeans is considerable, the most in SSA – followed by Uganda – according to the International Institute of Tropical Agriculture
USDA projects a 14% increase in conventional soybean production year over year for marketing year 2024/2025. Recent floods may reduce the crop some, but domestic consumption in Nigeria is also down due to macroeconomic factors influencing poultry production and…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...