India ends non-basmati rice export ban
The Indian government will resume non-basmati white rice exports with a minimum floor price of $490 per tonne, ending a ban that started in July 2023. The government has gradually eased restrictions on premium, aromatic basmati and parboiled varieties in the last several weeks. It eliminated the minimum floor price for basmati rice exports and...
Egypt expected to produce more wheat in 2024-25
According to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture, Egypt is expected to produce more wheat in 2024-25 as the government encourages an increased planted area and higher yields. Production is estimated at 9.2 million tonnes, up from 8.87 million a year earlier. The FAS said that High...
Grains and oilseeds powerhouse
The presence of two of the world’s most important agricultural producers and exporters — Brazil and Argentina — makes South America a powerhouse of world grains and oilseeds production and trade. The two make the region the leader in world soybean production, also producing large crops of maize (corn) and a significant tonnage of wheat....
USDA: largest spring wheat production since 2020
When scouts fan out across North Dakota fields in the third week of July, they will be looking to confirm or moderate expectations of a high-yielding spring wheat crop forecast this month by the US Department of Agriculture (USDA). The USDA on July 12 forecast production of spring wheat other than durum in the United...
Grain market review: Oilseeds
The prospect of ample supplies, despite weather problems in some producing regions, is pushing oilseeds prices lower. The Foreign Agricultural Service (FAS) of the US Department of Agriculture said on June 12 in its Oilseeds: World Markets and Trade report that the US soybean oil price premium compared to other major exporters has declined, and...
COFCO, GROWMARK enter agreements on grain assets
COFCO International, Ltd. and GROWMARK Inc., on June 20, announced they have entered into definitive agreements regarding grain assets in Illinois. Beijing, China-based COFCO International has agreed to purchase GROWMARK’s minority stake in a transloading facility located in Cahokia. In contrast, GROWMARK has agreed to purchase a Chicago grain warehouse facility, known as the B-House, from...
Turkey bans wheat imports
The Turkish Agriculture Ministry recently announced that it will halt wheat imports from June 21 through mid-October to protect Turkey’s farmers from price decreases and other adverse impacts during this year’s harvest. The measures would be implemented to “prevent our producers from being affected by price decreases due to supply density during the harvest period,...
Australian winter crop totals expected to increase 9%
Australia’s overall winter crop production is expected to increase 9% to 51.3 million tonnes in 2024-25 and be the fifth highest on record, according to the June report from ABARES. Wheat production is forecast to increase by 12% to 29.1 million tonnes, while barley production is estimated at 7% to 11.5 million tonnes. Canola production...
Grain market review: Wheat
As harvests approach, the focus for wheat traders is increasingly on the weather, especially its impact on Russia’s crop with low moisture earlier in the year and continued cold temperatures in May. A larger crop than last year is forecast, but with prices in a long-term downtrend, wheat consumption is forecast to outstrip growth. US Wheat Associates (USW) reported in its May 14 Wheat Letter Blog that “across the Northern Hemisphere, wheat price and crop development are dominating market discussion.”
India’s wheat stocks drop to 16-year low
India’s wheat stocks in government warehouses on May 1 reached their lowest level since 2008 with a 10.3% year-on-year drop, Reuters reported. Two years of low crops resulted in the sale of record volumes to boost domestic supplies and lower local prices.