GFM Network News

U.S. livestock: Hogs limit down on profit-taking, Middle East tensions

Chicago | Reuters — U.S. hog futures tumbled by the daily trading limit to a three-week low on Friday as rising geopolitical tensions in the Middle East triggered profit-taking, analysts said. Losses hit markets after a U.S. air strike in Iraq killed Iran’s most prominent military commander, rattling traders of products from agricultural futures to […] Read more

Iraq replaces state grain agency’s chief

Baghdad/Dubai | Reuters — Iraq, a major Middle East wheat and rice importer, has replaced the head of its state grain buying agency, government sources and a document showed on Tuesday. Naeem al-Maksousi was replaced by Hassanein Mahdi Elwan, a document reviewed by Reuters showed. The reason for the replacement, which comes after a week […] Read more

G3 co-owner SALIC looking at Iraq farmland

Dubai | Reuters –– The Saudi Agricultural and Livestock Investment Company (SALIC) is looking at more farmland investment opportunities and has its neighbour Iraq on the list. SALIC, an arm of the country’s Public Investment Fund (PIF), said it was also looking to expand its investments in the Black Sea region, which already includes almost […] Read more

Ex-Iraq grain board chief to be investigated in graft case

CORRECTED, Feb. 20, 2016 — Baghdad | Reuters — Iraq’s acting trade minister has referred former grain board chief Saad al-Hamdani and 16 unnamed individuals for investigation over suspected transportation of illegal wheat shipments, a ministry statement said Monday. The grain board is responsible for purchasing billions of dollars worth of commodities internationally and from […] Read more

Fighters target vital water facilities across Middle East

Geneva | Reuters –– Fighters are increasingly targetting water and sanitation facilities across the Middle East, exacerbating severe shortages for agriculture and households, the International Committee of the Red Cross (ICRC) said on Wednesday. Consumption of water in the volatile region with rising populations was already at unsustainable levels in many areas hit by record-low […] Read more

Newly appointed Iraq grain board chief removed

London | Reuters — Iraq’s newly appointed Grain Board chief has been removed from his post after less than a week, three sources with knowledge of the matter told Reuters on Thursday, in another sign of turmoil in the body responsible for state imports of vital commodities. Muthanna Jabbar, appointed just last week, was replaced […] Read more