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.
Brazil crop weather in 2023 is challenging years like 2015
Weather conditions in Brazil so far this spring have been poor in many areas and if a turnaround does not occur soon production may be notably off the trend as it was in 2015-16 and 2020-21. In 2015, El Niño was solely responsible for lower grain and oilseed production. This year is a bit different. World Weather, Inc. forecasters believe that El Niño has certainly had much influence on this year’s adverse weather as it did in 2015-16, but so…
China’s grain feed use on upswing
China’s grain feed and residual use in marketing year 2023-24 is projected to rise slightly to 285 million tonnes, up 2.7% from 282.3 million tonnes in 2022-23, according to a Global Agricultural Information Network (GAIN) report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. FAS Post Beijing anticipates corn production in 2023-24 to edge higher to 280 million tonnes due to a larger planted area at 40.927 million hectares (up 1.9%) and improved yields. Feed and…
IGC: World soybean output up 7% year on year
IGC: World soybean output up 7% year on year. The International Grains Council (IGC) in its latest Grain Market Report revised global soybean production higher in marketing year 2023-24 to a record 395 million tonnes. The increase in output is chiefly linked to bigger crops in South America, the IGC said
FAO forecasts record cereal output
Global cereal production this year is forecast to reach a record 2.81 billion tonnes, according to the Food and Agriculture Organization of the United Nations’ latest Cereal Supply and Demand Brief released on Nov. 3. Of note was higher projected coarse grain production in China and most of West Africa and lower forecasts for the United States and the European Union. Wheat output forecasts were raised for Iraq and the United States and revised downward for the European Union and…
Argentine wheat crop revised lower.
Due to widespread dry conditions, Argentina’s wheat production forecast for the 2023-24 marketing year has been revised lower in the most recent Global Agricultural Information Network report from the US Department of Agriculture’s Foreign Agricultural Service (FAS). The FAS dropped its projections for Argentine wheat output by 2 million tonnes from the previous forecast to 14.5 million tonnes. If realized, the total would still be 2 million tonnes higher than the country’s 2022-23 drought-stricken crop. Argentina, typically the largest wheat…
Rabobank: US could still see top corn crop
While the US will not set yield records in corn this season, far better results than initially anticipated could still make it a top-two or top-three crop, according to Rabobank’s North American Agribusiness Review. In October, the US Department of Agriculture (USDA) lowered yield estimates against the backdrop of media reports indicating that crops coming off the field were better than expected. Rabobank said much about the 2022-23 crop year has been atypical.
Bunge marks 100 years in Australia
Bunge Ltd. is marking a century in Australia throughout October, hosting an event with more than 100 local partners at Lake Towerrinning, Moodiarrup, Western Australia, and giving back to the communities in which operates. Bunge (Australia) Pty. Ltd. was established in Melbourne in 1923, focusing on grain trading in the wheat and barley export markets. A century later, Bunge brings grains and oilseeds from Western Australia to countries in Asia, Africa, South America and Europe. The company operates a port…
Russia signs grain export deal with China.
A Russian export company has signed a deal to export 70 million tonnes of grain, legumes and oilseeds to China, Reuters reported on Oct. 18. The company, EPT, said the contract was for 12 years with a possible extension, according to Reuters.
Ukraine says nearly 300,000 tonnes of grain destroyed.
Russia’s attacks on Ukraine’s agricultural infrastructure and ships since July have destroyed nearly 300,000 tonnes of grain, Reuters reported, citing the Ukrainian government. Since Russia quit the Black Sea Grain Initiative in July, its military forces have hit six civilian ships and 150 port and grain facilities during 17 attacks, destroying crops headed for export, Deputy Prime Minister Oleksandr Kubrakov said in a statement.