Gea Local

Tuesday, April 27, 2021

The factors driving local price movement - Farm Weekly

The past few weeks have seen life come back into wheat and canola markets with prices increasing in old and new crop markets alike.

Chicago Board of Trade (CBOT) grain futures rallied strongly last week with wheat gaining 58 US cent per bushel, corn up 64 USc/bu and soybean up 90 USc/bu for the week.

Kwinana APW1 2020/21 prices have risen over $35 per tonne since the start of April with Kwinana CAN1 2020/21 prices jumping $65/t, as of April 23.

New crop markets have seen an even greater step change, with Kwinana CAN1 2021/22 over $770/t as of April 23, up $90/t during April.

This rally is due to a combination of factors with strong offshore futures driven by tightening global stocks and weather concerns in the northern hemisphere.

Weather

The global weather situation at the moment is very hot and cold. Prolonged drought conditions in parts of the United States and the European Union have been punctuated by recent freezing events.

The United States Drought Monitor shows most of the United States south west is in extreme or exceptional drought which raises concerns that winter crops just out of dormancy have been damaged.

The soil moisture deficit across the United States corn belt could also spell trouble for the corn crop currently being planted.

United States corn stocks are already at their lowest in seven years and a poor production year for 2021/22 could have significant impacts on the global feed grain balance sheet.

Global feed demand

When looking at what's happening in local prices, it is always helpful to understand what is happening on the global front.

Global feed grain demand remains robust with countrie having a heightened awareness of their own food security because of the impact COVID-19 had and continues to have on supply chains.

Chinese feed demand has been exceptionally strong with a combined 44 million tonnes of wheat, barley and corn estimated to be imported by China this marketing year according to the USDA.

Many industry analysts believe this will end up being much higher, with additional US corn exports already on the books.

Soybean imports into China are also predicted to be at record highs of 100 million tonnes.

This heightened demand is a product of reduced domestic stocks in China and the need to rebuild their pig herd as they continue to manage African swine fever outbreaks.

Domestic wheat prices in China are now trading below corn, making wheat the economical choice for pig and poultry producers.

The increased proportion of wheat in the feed rations has displaced two to seven per cent decrease in the amount of soymeal used across the country reported Reuters.

This is due to protein in wheat being higher than corn and consequently the reduced requirement for this protein from soymeal.

The change in the feed ration mix has started to put pressure on crush margins and as result the outlook is bearish for soybeans compared to alternative feeds.

However, the recent rally in Chicago soybean futures suggest that other factors like the slow soybean harvest in Argentina and tight US soybean stocks are ultimately supportive of global soybean prices.

The increased demand for feed wheat from China is a positive for Australia with close to 1.2mt of Australian wheat already exported to China this season and more on the books.

With the recent rally in prices, the rising Australian dollar, and the impending harvest of northern hemisphere crops, it will be interesting to see how long current values can be sustained.

More information: visit profarmergrain.com.au or call 1300 302 143.

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The factors driving local price movement - Farm Weekly
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'I've never seen a platform move this fast': TikTok's local GM Lee Hunter - The Music Network

TikTok’s local managing director, Lee Hunter, has said the growth trajectory of platform is is unprecedented.

Its impact in the music space in particular is changing the game, he told a Sydney event last week ahead of the launch of TikTok Trending on iHeartRadio Australia.

“TikTok globally has been a real phenomenon when it comes to music. It’s something we’re extremely proud of. And it’s not just in terms of the music that’s on the platform, but breaking artists, experimentation, a whole bunch of things,” he said.

“When it comes to thinking about TikTok, a lot of people think about it being a social platform. And actually, we think about it as an entertainment platform. It’s really a chance to come together to see what culture is breaking, what trends are happening – all of these amazing, precious things are happening on the platform that we really want to celebrate, and we’ve already forged fantastic, deep connections with millions of Australians around the country.”

He said the discovery element of TikTok, where people seek out the platform to find out about emerging and re-emerging music, was particularly exciting. This, paired with its rapid growth puts it in a unique position to change the music industry, and to grow with it.

TikTok Trending launched on iHeartRadio this morning

“I’ve never seen a platform move as fast as TikTok,” he said. “I come from a background where I was lucky enough to be involved with Google and YouTube. I was there in the early days of YouTube, when it was moving from being a place of dogs on skateboards and keyboard cats, into something that we see now.

“I thought that shit moved fast. I’m here to tell you that TikTok is on an incredible trajectory, very similar, only we’re getting there much, much faster.”

The platform’s intention is to continue to evolve with and shine a spotlight on the music industry, he said.

“One of the reasons why I love [my job] so much, is I get to be involved in the creative community of fantastic partners, fantastic artists, an underpinning of creativity that truly drives it. And I feel deeply privileged to be part of that every day and help grow this amazing ecosystem of creators, partners, users, artists – this wonderful underpinning of music that happens throughout it.

“So I’m the luckiest guy in all of Australia to be part of all of that.”

His comments about working collaboratively with artists, creators and the wider audio and music industry were echoed by the platform’s head of music, Ollie Wards, who told TMN he’s always espoused the benefits of working together to reach more potential consumers.

“I mean I’ve always said that I think every platform creates an environment. And, all of the different platforms provide something towards that environment that has some synchronistic relationship. And it’s better to engage with audiences in a multi-platform context where you’re reaching out to them and they’re able to engage in you and lots of different touchpoints, and this is just a reflection of that. It’s good practise from iHeart’s point of view, and it’s good practice from TikTok’s point of view to deepen the relationship,” he told TMN.

“So I’ve always been a proponent of not putting up a fence around your platform and pretending that your users don’t exist in the world where they’re interacting with other platforms. It’s just an opportunity for us to, when they’re wanting to listen to the radio, they’ve got a TikTok-style station to engage with.”

TikTok Trending will run for three months from today on iHeartRadio Australia.

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'I've never seen a platform move this fast': TikTok's local GM Lee Hunter - The Music Network
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New concussion guidelines for local footy - krock football

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New concussion guidelines for local footy krock football
New concussion guidelines for local footy - krock football
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Monday, April 26, 2021

Byron Bay Interchange Station opened, local member snubbed – The Echo - Echonetdaily

The new $8.4 million Byron Bay Interchange Station is now complete, with the aim of providing increased accessibility and safety for public transport customers.

Yesterday, Nationals MLC Ben Franklin joined outgoing Byron Mayor Simon Richardson (but not local MP Tamara Smith) to inspect the new interchange ahead of it being open to traffic tomorrow.

Mr Franklin said the new interchange will provide more transport and access options in and around Byron Bay and better connect people to the town. ‘The new interchange offers easier pick up and drop off zones for coaches, buses, taxis and rideshare and is about making it more attractive to leave the car at home,’ said Mr Franklin.

‘Road users will also notice reduced congestion in and around the town centre, which is a huge win for locals,’ he said.

Works included preserving the iconic heritage water tower (alas, minus its wonderful graffiti art) and new landscaping, incorporating native plants and scrubs.

The project has supported about fifty people during construction, across engineering, building and administration roles. Mayor Simon Richardson said the opening of the bus interchange was another key achievement in the Byron Bay Town Centre Masterplan which prioritises pedestrians over cars.

‘In February this year we opened the Byron Bay bypass which has been an outstanding success with the latest counts revealing a 30 percent decrease in traffic in Jonson Street,’ he said.

‘The opening of this bus interchange means that congestion will be further reduced and this is a terrific outcome for the community,’ said Cr Richardson.

Local member snubbed from opening

In what has been a disturbingly regular occurrence, the Member for Ballina, Tamara Smith, whose electorate includes Byron Bay, was not invited to the interchange opening. (Ben Franklin MLC unsuccessfully stood for her seat at the last election.)

Ms Smith has been critical of the environmental destruction associated with the bypass and interchange.

Tamara Smith told The Echo: ‘One thing the last few months have shown us is that the Liberals and Nationals have an entitlement problem and a misogyny problem.

‘They feel entitled to rort the system and they perpetuate a culture in which women are treated with contempt.

‘Ironically yesterday I was giving evidence at a Parliamentary Inquiry into the Liberals and Nationals Grants rorts!’ she said.

‘Open, honest, transparent, collegial and bi-partisan ways of doing democracy is what our communities are demanding from their elected leaders. But what we are getting from the Liberals and Nationals are backroom deals, dishonest processes, captain’s picks, misogyny, entitlement and self interest,’ said Tamara Smith.

It is yet to be seen if anything will improve as 2021 rolls on.

For more information about the new transport interchange, please visit this site.

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Byron Bay Interchange Station opened, local member snubbed – The Echo - Echonetdaily
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NSW flood repair work contracts to stay local under ministerial order - Sydney Morning Herald

Local small and medium businesses in flood-affected areas will be first in line for repair work contracts on government-owned sites and roads under a new ministerial direction.

The NSW Procurement Board will require government departments to first consider local businesses for repair and rebuild work on sites like public hospitals and schools.

NSW Minister for Finance and Small Business Damien Tudehope said giving contracts to local businesses to repair damaged buildings and roads would ensure critical employment opportunities remained in the community.

Telegraph Point on the NSW Mid North Coast, which was inundated by the floods in March.Credit:Michael Kirkman/Telegraph Point Community on Facebook.

“I often tell the story about a Coffs Harbour small business who missed out on printing work for the local hospital because it was being done by a business in Sydney,” he said.

“Where possible, government work should be made available to local businesses to get money flowing through the local economy, creating jobs and better opportunities for those communities.”

The state government is also encouraging insurance companies and private sector businesses impacted by the floods to first consider local small and medium-sized business for works.

Deputy Premier and the minister responsible for disaster recovery John Barilaro said the initiative was designed to aid financial recovery and enhance employment in areas impacted by the recent one in 50-year flood.

“This decision to prioritise them for the rebuild and remediation work is similar to an initiative we successfully introduced after the 2019-20 bushfires and will go a long way to putting cash back in local economies,” he said.

Kempsey construction business owner Michael O’Donnell has been managing the clean-up and rebuild of the 145-year-old Telegraph Point Public School, which was destroyed in the March floods.

The school, along with six homes were wiped out when flood waters swept through the Telegraph Point village.

Mr O’Donnell’s business has managed long-term government maintenance contracts for schools, ambulance and fire stations, including during the bushfire recovery.

“We are a medium-sized, locally-based family company and we manage the work and sub-contract work to local businesses. A lot of them might be one or two person operations,” he said.

“When we engage local contractors, they buy building materials and supplies locally, in businesses employing other people, and there is a flow-on effect for the local economy.”

At Telegraph Point Public, Mr O’Donnell said the clean-up has transitioned to the rebuild phase, with eight new demountables raised to ensure the school can operate.

More than $300 million has so far been made available for the flood clean-up. This does not include repair or rebuild works and is not specific to government property.

Detailed assessments of damage across the state are still being completed and the government has been unable to give an estimate of the overall cost of flood damage.

Last month it was estimated road repair bills had already reached $80 million and were expected to soar into the hundreds of millions of dollars.

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NSW flood repair work contracts to stay local under ministerial order - Sydney Morning Herald
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US to share AstraZeneca shots with other countries, pending approval for local use - ABC News

The United States will begin sharing its entire stock of AstraZeneca COVID-19 vaccines with the world once it clears federal safety reviews, with as many as 60 million doses expected to be available for export in the coming months.

The move greatly expands on the Biden administration's action last month to share about 4 million doses of the vaccine with Mexico and Canada.

The AstraZeneca vaccine is widely in use around the world but has not yet been authorised by the US Food and Drug Administration (FDA).

The White House is increasingly feeling assured about the supply of the three vaccines being administered in the US, particularly following the restart of the single-dose Johnson & Johnson shot over the weekend.

"Given the strong portfolio of vaccines that the US already has and that have been authorised by the FDA, and given that the AstraZeneca vaccine is not authorised for use in the US, we do not need to use the AstraZeneca vaccine here during the next several months," White House COVID-19 coordinator, Jeff Zients, said.

"Therefore the US is looking at options to share the AstraZeneca doses with other countries as they become available."

The US has also been under mounting pressure in recent weeks to share more of its vaccine supply with the world, as countries like India experience devastating surges of the virus and others struggle to access doses needed to protect their most vulnerable populations.

White House press secretary, Jen Psaki, said US President Joe Biden had spoken with India's Prime Minister Narendra Modi, "committing that the United States and India will continue to work closely together in the fight against COVID".

"The President pledged America's steadfast, ongoing support for the people of India who have been impacted by the recent surge in the COVID-19 case," she said.

"At India's request that we are exploring options to provide oxygen and related supplies."

AstraZeneca vaccines boxes sit in a fridge. — The United States has already produced 10 million doses of the AstraZeneca vaccine.(
ABC News: Greg Nelson
)

AstraZeneca approval possible in the coming weeks

More than 3 million people worldwide have died of COVID-19, including more than 572,000 in the US.

The US has vaccinated more than 53 per cent of its adult population with at least one dose of its three authorised vaccines from Pfizer, Moderna and J&J, and it expects to have enough supply for its entire population by June.

A man receives a Pfizer coronavirus vaccination shot — The US government is confident of its vaccine supplies.(
AP: Mike Segar
)

About 10 million doses of AstraZeneca vaccine have been produced but have yet to pass review by the FDA to "meet its expectations for product quality", Mr Zients said, noting the US regulator is recognised as the "gold standard" for safety around the world.

That process could be completed in the next several weeks. About 50 million more doses are in various stages of production and could be available to ship in May and June pending FDA sign-off.

The US has yet to finalise where the AstraZeneca doses will go, Mr Zients said.

Neighbours Mexico and Canada have asked the Biden administration to share more doses, while dozens of other countries are looking to access supplies of the vaccine.

"We're in the planning process at this point in time," Ms Psaki said when asked where the doses would go.

The AstraZeneca doses will be donated by the US government, which has contracted with the company for a total of 300 million doses — though the company has faced production issues.

The administration's move to share vaccines drew praise from non-governmental aid groups, who encouraged the White House to develop plans to share even more doses.

"The Biden administration's decision to begin sharing AstraZeneca vaccines is welcome news and an important first step towards the US sharing more of its massive vaccine stockpile," Tom Hart, acting CEO at The ONE Campaign, said.

"The Biden administration should build on this welcome first step and start sharing more vaccines as soon as possible."

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US to share AstraZeneca shots with other countries, pending approval for local use - ABC News
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NSW flood repair work contracts to stay local under ministerial order - Brisbane Times