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…
Grain market review: Oilseeds
The popularity of soybeans with US producers, as they plant for 2024-25, has put pressure on prices, particularly following an upward revision to the US Department of Agriculture’s (USDA) planted area forecast. Big Brazilian and Argentine production at the same time as softening Chinese demand also contributed to the forecast. In a paper, “Grains and Oilseeds Outlook for 2024,” published Feb. 15 at the Agricultural Outlook Forum 2024, the USDA said: “Soybean area is expected to increase as demand for…
Black Sea nations ally to clear mines
Turkey, Romania and Bulgaria have signed a memorandum of understanding to find and clear drifting sea mines in the Black Sea to facilitate safe transport of Ukrainian grain exports, Bloomberg reported. Mines drifting into specific areas of the Black Sea as a result of Russia’s invasion of Ukraine will be the focus of the initiative led by Turkey. Russia and Ukraine are both major producers and exporters of grain, and the war increasingly has threatened the safe passage of shipments.
Brazil’s soybean production revised to lower.
Although Brazil’s latest soybean production forecast for the 2023-24 marketing year has been revised lower to 158.5 million tonnes, it still would top last year’s record total, if realized, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. The previous projection in October was for a crop of 161 million tonnes — 3 million tonnes higher than in 2022-23 — but the FAS said poor weather resulting from El Niño has lowered expectations…
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…
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.
Russia forecasting record grain exports
With nearly 98% of its harvest collected, Russia is forecasting over 65 million tonnes of grain exports during the 2023-24 marketing season, Reuters reported, citing Russian news agency Interfax. Russian Agriculture Minister Dmitry Patrushev said on Nov. 28 that more than 151 million tonnes of grain in bunker weight had been threshed, including almost 99 million tonnes of wheat, according to Interfax.