IGC: Grains production outlook rises again
Better-than-anticipated wheat and barley yields have boosted the forecast for total grains (wheat and coarse grains) production in the 2025-26 marketing year, according to the International Grain Council’s (IGC) most recent Grain Market Report. The monthly report, released on Oct. 23, projected a 13-million-tonne increase from the September forecast to a record 2.425 billion tonnes....
Focus on China
In the midst of a trade war with the United States, China is developing a dedicated soybean supply chain with Brazil that is specifically tailored to China’s sustainability and quality standards. The “Soy China” initiative is a customized, exclusive soybean production model to meet Chinese import needs and standards, particularly regarding environmental, social and traceability...
China soybean imports continue surge
China, the world’s largest soybean consumer, set a second straight monthly import record in July, Reuters reported, citing customs data calculations. China brought in 11.67 million tonnes of soybeans in July, data from the General Administration of Customs showed, up 18.5% from 9.85 million tonnes a year earlier, and above analysts’ expectations of 10.48 million tonnes. Wan...
FAS bullish on Argentine soybean crop
Strong soybean production and crush are anticipated in Argentina in the 2024-25 marketing year, but those lofty projections could be impacted by a developing La Niña weather pattern, according to the latest report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. With nearly 90% of the soybean crop planted, crop development...
Heat, dryness expected in Brazil
Most of the commodity trade fear of La Niña negatively influencing South America has passed. Weather conditions since the end of October have been mostly very good in Brazil and Argentina and the market mentality has been more bearish than bullish over futures prices; however, changing weather this month is likely to bring a little...
Brazil’s grain production dips in 2023-24
Grain production in Brazil is estimated at 298.41 million tonnes for the 2023-24 marketing year, a drop of 21.4 million tonnes compared to the previous year, according to Conab, the country’s food supply and statistics agency. This would still be the second largest crop in the survey’s history. In its 12th Grain Harvest Survey for 2023-24...
Cargill earns two BIG Sustainability Awards
Business Intelligence Group (BIG) has named Cargill the winner of a pair of 2024 BIG Sustainability Awards in recognition of the company’s global efforts within the agriculture and food value chains. Cargill was the recipient of both the Sustainability Leadership Award and Sustainability Initiative of the Year Award for its Hatching Hope program. These BIG...
Canada funds work to develop more resilient soybeans
The government of Canada awarded up to C$2.3 million over four years to Performance Plants Inc. (PPI) to develop change-resistant, high-yielding soybeans. The award is through the AgriScience Program–Projects Component, an initiative under the Sustainable Canadian Agricultural Partnership. PPI’s objective is to create soybean varieties that are more heat and drought-tolerant, herbicide-resistant, use water efficiently...
Key US crop areas battle too much, too little rain
Weather typically is the main force affecting agricultural commodity markets, from planting in the spring (or fall for winter wheat) to harvest in the fall (or summer for winter wheat), especially during the growing season for all crops. The most recent examples were from Russia, the world’s largest wheat exporter, and Brazil, the world’s largest...
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...