Brazil to expand share of global soybean trade
Brazil’s share of global soybean trade could increase to 60.6% by 2033, according to a study released last week by the US Department of Agriculture’s Economic Research Service (ERS).
Geopolitics’ impact on global grain market
When Russia signed an agreement in October to supply China with 70 million tonnes of grain, legumes and oilseeds over the next 12 years, a comment made several years ago by Stefan Vogel, Rabobank’s global sector strategist for grains and oilseeds, came to mind. Vogel, in a conversation with World Grain in the fall of 2021, said given the growing political tension between longtime agricultural trade partners China and the United States, it was possible that Russia, which is more…
EU 2023-24 grain output revised lower
Extreme weather conditions across the European Union (EU) has reduced grain production projections for marketing year 2023-24, although output is still anticipated to exceed 2022-23 levels, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. Production for the 27 Member States of the EU has been revised 1.1 million tonnes lower from the FAS’ previous forecast at 269 million tonnes. However, that still would be an increase over the estimated crop of 267.6…
FAO: Global cereal prices decline in November
Due mainly to declines in international corn and wheat prices, the United Nations’ Food and Agriculture Organization’s (FAO) Cereal Price Index for November decreased by 3% from the previous month, according to a report released on Dec. 8. International prices of coarse grains dropped by 5.6% in November, led by a sharp fall in corn prices, while wheat prices declined by 2.4%, the FAO said. Its All-Rice Price Index remained stable month-on-month amidst contrasting price movements across different origins and…
Ukraine grain exports down sharply from last year
Ukraine’s grain exports are continuing to fall significantly behind the pace a year ago, with 13.4 million tonnes exported so far, compared to 18.3 million tonnes last year, according to data from the agriculture ministry. The exports include 5.9 million tonnes of wheat, 6.5 million tonnes of corn and 876,000 tonnes of barley. By this time last year, Ukraine had exported 6.9 million tonnes of wheat, 9.8 million tonnes of corn and 1.48 million tonnes of barley.