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…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...