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.
Canada may see 5% boost in wheat output
Canada’s grain output in the upcoming marketing year is forecast to increase by nearly 5%, boosted mainly by a surge in wheat production, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. The FAS, which issued the Global Agricultural Information Network report on April 24, forecasts a 5.4% increase in Canadian total wheat production to 33.7 million tonnes in 2024-25, slightly higher than the five-year average. Overall grain production is seen increasing by…
USDA: Corn, wheat acres down; soy up
The US Department of Agriculture’s (USDA) March 28 Prospective Plantings report provided a few surprises along with insight into potential 2024 acreage and crop sizes. This year’s report comes with mostly favorable weather across key growing areas, along with commodity prices below those of the past couple of years in many cases.
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…
Study details Ukraine war’s wheat market impact.
As the second anniversary of Russia’s invasion of Ukraine draws near, a recently published research paper on the long-term impact the war has had on global wheat prices and market responses paints a relatively optimistic picture. The study, which was co-authored by researchers from the University of Illinois and Texas Tech University, found that although prices initially spiked in the first several months after the invasion, they have sharply declined since then as other wheat-producing countries have compensated for the…
Argentina’s wheat production improves
Wheat production in Argentina for 2023-24 is higher than originally expected as yields improved, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
Drought lowers Canada’s 2023-24 wheat production.
Despite a larger planted area, Canada’s wheat production in 2023-24 dropped 7% from the previous year to 31.95 million tonnes, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA). Severely low soil moisture in Alberta and Saskatchewan reduced yields, the FAS said.
USDA lowers corn, wheat area forecast
WASHINGTON, DC, US — The US Department of Agriculture on Nov. 7 projected area planted to soybeans to expand in 2024, but wheat and corn planting areas were forecast to decline. The forecasts were contained in early-release tables from the USDA Agricultural Projections to 2033 report, which will be issued in February 2024. The USDA forecast area planted to all wheat for harvest in 2024 at 48 million acres, down 1.2 million acres from 49.6 million acres in 2023. The…
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…
US HRW wheat exports projected at record low
US Hard Red Winter (HRW) wheat exports are forecast to fall to their lowest level since the US Department of Agriculture (USDA) began tracking such data in 1973, according to a recent report from the Economic Research Service (ERS). In its monthly Wheat Outlook Report, released on Sept. 14, the ERS projected HRW exports to decline to 155 million tonnes, revised downward by 10 million tonnes from its August projection.