Grain market review: Oilseeds
A likely record Brazilian crop, with Argentina’s production problems already factored in, and subdued demand were at the top of the list of factors behind easing oilseeds prices in recent weeks.
Kazakhstan’s wheat, barley production improves in 2022-23
Wheat and barley production in Kazakhstan improved in 2022-23, with both experiencing a 39% increase from the previous year, according to a report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).
Ukraine grain exports tumble
Entering its second year of war, Ukraine’s grain exports have tumbled to 31.8 million tonnes, down 27% so far for the 2022-23 season as Russia’s invasion grinds down agricultural production and infrastructure that previously contributed substantially to world markets, Reuters reported, citing Feb. 27 agricultural ministry data.
Russia may abolish grain export quota
Russia, the world’s largest wheat exporter, is considering abolishing its grain export quota
Companies betting on plant-based protein
With 52% of global consumers identifying as flexitarians (incorporating both animal-based and plant-based proteins into their diet), according to a Mintel market research report, oilseeds and legumes processors stand to benefit from this shift toward alternative protein sources. Of those consumers, nearly two-thirds are defining their eating styles as “trying to consume more plant-based foods,” leading to expanded protein options and fueling overall demand for plant-based proteins.
Market for organic products must be nurtured
While still accounting for only a modest share of grain-based foods in the United States, the market for organic products has been highly dynamic and must be nurtured and protected. Amid costly episodes of fraud over the last decade and longer, the need for the US Department of Agriculture to strengthen the National Organic Program (NOP) had become apparent.
Brazil expected to produce record grain volumes
Brazil is set to have another record-breaking grain harvest in 2022-23 with wheat production estimated at 9.6 million tonnes and corn production at 125.5 million tonnes, according to a report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).
China corn production on upswing
Corn production in China for 2022-23 is trending higher at 277.2 million tonnes, up 1.7%, or 4.6 million, from last year, and feed mills have resumed mixing more corn amid higher wheat and sorghum prices, according to a Global Agricultural Information Network report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
French soft wheat exports outside the EU on rise
The forecast for 2022-23 soft wheat exports from France outside the European Union has continued to climb to 10.6 million tonnes, 21% more than last year, on strong demand from North Africa, Reuters reported, citing farm office FranceAgriMer.
U.S. flour production falls to seven-year low in 2019
Wheat flour production by U.S. flour mills in 2019 totaled 422.277 million cwts, down 4.594 million cwts, or 1.1%, from the record 426.871 million cwts in 2018 and the smallest aggregate in seven years, according to the National Agricultural Statistics Service (NASS) of the U.S. Department of Agriculture.