Australia - dairy price forecast

Rabobank is forecasting dairy prices of between AU$8.50/kg milk solids (MS) and AU$9.00/kg MS, the equivalent of €5.12/kg MS and €5.42/kg MS.

Uruguay - trade talks with China

Uruguay held two days of trade talks with China last week to improve market access for Uruguay’s exports independent from the rest of the Mercosur countries.

Nigeria - growth in wheat production

Wheat production in Nigeria is forecast by the United States Department of Agriculture to increase by 42% due to a memorandum of understanding guaranteeing an agreed price that millers pay wheat farmers.

USA - corporate job cuts at Tyson

Reuters reports that Tyson Foods, the biggest meat processor in the US, will cut 10% of corporate jobs and 15% of senior leadership roles following disappointing first quarter results.