Ukraine to plant more oilseeds.
While Ukrainian farmers are expected to plant more oilseeds, with the exception of sunflowers, production volumes in 2024-25 could be dampened by lower yields. Soybean production area is estimated at 2.1 million hectares, an 18% increase, and rapeseed area is estimated at 1.5 million hectares, a 7% increase, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. Sunflower seeds production area is about the same at 5 million hectares.
Focus on Thailand
Although rice production is holding steady, weather-related challenges are a constant worry for Thailand, which relies heavily on the crop as a food staple and export commodity. More than 60% of its agricultural land is allocated for rice farming, which is heavily dependent on water. Farmers typically grow rice twice a year during the wet and dry seasons. Production estimates for 2023-24 call for 19.9 million tonnes of rice, a 5% drop from 2022-23 due to reduced water availability during…
Brazil’s corn and wheat crops revised lower.
Due to adverse weather conditions related to El Niño, the Foreign Agricultural Service (FAS) of the US Department of Agriculture has lowered its forecast for corn and wheat production in Brazil in marketing year 2023-24. In its Global Agricultural Information Network report, released April 1, the FAS trimmed its corn harvest projection by 2 million tonnes from the previous forecast, to 122 million, down from 135.5 million in 2022-23. The agency also slashed its projection for Brazil corn exports by…
Japan’s corn use, imports expected to rise
Corn imports and consumption are forecast to increase in Japan for marketing years 2023-24 and 2024-25 as the country’s poultry layer population recovers from outbreaks of highly pathogenic avian influenza (HPAI) and feed demand rises while global prices soften, according to the Foreign Agricultural Service (FAS) of the US Department of Agriculture. In its Global Agricultural Information Network (GAIN) report, the FAS said it anticipates robust import demand for corn in both marketing years as the country is highly dependent…
Grain market review: Coarse grains
Short covering by funds, in the absence of new bearish news, sparked a small-scale recovery in maize (corn) prices, following recent declines. The European Confederation of Maize Production (CEPM) in its March 19 Corn Market publication said, “US maize prices continue to consolidate with a second consecutive week of gains, following 10 weeks of continuous declines between early January and Feb. 20. This is due to a more cautious attitude on the part of non-commercial funds, which are covering part…
Focus on Saudi Arabia
Saudi Arabia produced nearly double the wheat expected in the 2022-23 marketing year and is on track for similar results in 2023-24 as government purchase prices remain high. Production totaled 1.18 million tonnes in 2022-23 and is estimated at 1.2 million tonnes in 2023-24, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA). The government offered a purchase price of $466.70 per tonne.
Cargill offers canola program in Canada.
With a rising interest in canola as a renewable fuel feedstock, Canadian growers will be able to access new and growing markets through the Cargill Power Canola program, which will begin enrollment this month for the 2024 crop year. Canada’s Clean Fuel Regulations, the US Renewable Fuel Standard and the 2BS voluntary sustainability program in the European Union recognize canola as a low-carbon intensity feedstock for biofuels when grown using sustainable practices. Cargill Power Canola provides growers access to these…
Discord impacting EU grain, feed industries
Intensifying protests have left the Ukrainian-European Union (EU) border nearly paralyzed, jeopardizing one of the export lifelines of the reeling Ukrainian economy. The rally backed by farmers all over the bloc, however, is increasingly seen as an attempt to revolt against the EU’s environmental policy. Footage of grain spilled from a truck near the Shehyni-Medyka checkpoint on the Ukraine-Poland border has quickly become viral on social media networks, turning into a symbol of the growing dissent on the economic and,…
Rains boost Australia’s summer crops.
Summer crop prospects for Australia were pronounced “excellent” following well-timed rains in eastern growing areas that boosted expectations for production to 4.3 million tonnes, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) quarterly report released March 4. If realized, 2023-24 summer crop production – which includes sorghum, rice and cotton – would still be 17% below last year but 22% above the 10-year average of 3.5 million tonnes, according to ABARES, which raised its outlook…
Shifting population and income levels shape global ag demand
Changes in population and income levels will shift food demand and placement of corporate assets, Michael Zerr, long-term model lead, Cargill, Minneapolis, Minnesota, US, told attendees at the opening session of the International Sweetener Colloquium on Feb. 26. When you think 10 years out, it’s not so much about prices as “how does Cargill place assets across the supply chain,” Zerr said. Long-term drivers are population growth and gross domestic product.