๐ฐGlobal Grain Keyword News
Here are this week's key updates in the global grain market. Stay informed on the latest trends in grain exports, price movements, and production forecasts from major countries. Let's dive into the top news stories and understand the current market dynamics.
1. US corn, soy, wheat ratings top expectations despite flooding
CHICAGO, July 8 (Reuters) - The USDA reported that 68% of U.S. corn and soy crops are in good-to-excellent condition, the highest rating for this time of year since 2020, despite recent storms in the western Midwest. This surpasses analyst expectations and marks an increase from 67% the previous week. The favorable crop conditions have contributed to future prices of corn and soy reaching four-year lows due to ample supply. The U.S. winter wheat harvest is progressing rapidly, with 63% complete, up from 54% last week. Meanwhile, 75% of the spring wheat crop in the northern Plains is rated good-to-excellent, also an improvement from last week.
๐ Read Full Article> us-corn-soy-wheat-ratings-top-expectations-despite-flooding | xm.com
๐ฌ Even with the weather's wild swings, American farmers stay rock steady!
2. Europe’s Wheat Production Expected to Hit Lowest Level in a Decades
Due to extreme weather events since last spring, this year's wheat production in Europe is projected to fall below expectations. Notably, in France, one of Europe's key wheat producers, the production is anticipated to range between 29 million and 30 million tons. This is 11% lower than the average production over the past decade and marks the lowest level since 2016.
๐ Read Full Article> Grain Highlights 09.07.2024 | grainsprices.com
๐ฌ Wheat shortage in the land of bread
3. Argentina Soybean Harvest Hits Five-Year High
The Buenos Aires Grain Exchange reported on Thursday that Argentina's soybean production for the 2023/24 season concluded with a final harvest of 50.5 million tons, marking the highest yield in the past five years despite extreme summer heatwaves. Initially, the exchange had projected a harvest of 52.5 million tons, but in this week's report, it stated, "The soybean harvest is considered to be finished," indicating the end of this year's soybean harvest.
๐ Read Full Article> argentinas-soybean-harvest-ends-at-five-year-record/ hellenicshippingnews.com
๐ฌ Argentina's Soybean Bumper Crop: Will It Lead to Price Cuts?
4. Lower-Than-Expected Barley Harvest in France Increases Concerns for Wheat
The ongoing winter barley harvest in France, the largest grain producer in the European Union, is yielding less than expected due to adverse weather conditions damaging crops. This has heightened concerns for the upcoming wheat harvest. Since autumn, France's wet weather and soggy fields have delayed planting, hindered plant development, and increased crop diseases, leading observers to regularly downgrade grain harvest estimates.
๐ Read Full Article> worse-than-expected-french-barley-crop-raises-concern-over-wheat | hellenicshippingnews.com
๐ฌ France is facing shortages in both wheat and barley harvests!
5. INigeria Suspends Grain Import Taxes to Curb Inflation
Nigeria plans to temporarily suspend import taxes on certain grains, including wheat and corn, to curb soaring food prices. This suspension will be in effect for 180 days, as food inflation has caused prices to rise by more than 40% compared to the previous year. According to the USDA, Nigeria's grain consumption is expected to decrease due to these economic difficulties.
๐ Read Full Article> nigeria-plans-suspension-of-food-import-taxes | world-grain.com
๐ฌ Inflation's getting a timeout in Nigeria with a grain tax break!
This week's global grain news covers key supply and demand trends. Morocco imported over 200,000 tons of wheat from Russia due to low domestic production. Mexico's new President Claudia Sheinbaum has dropped plans to reduce yellow corn imports, focusing on white corn self-sufficiency. China's COFCO International expects higher soybean and corn harvests in Brazil for 2024/25 and is expanding the Santos port terminal. France's wheat crop is at a four-year low due to rain, with declining winter barley production. Iran's wheat production rose by 6% to 14 million tons, meeting domestic needs.
Understanding these trends is crucial. Fluctuations in production and import policies affect pricing and availability. Staying informed helps buyers make strategic decisions, such as diversifying sources or securing contracts early to mitigate supply chain risks.
GrainScanner updates new articles every week.
If you're interested in Greenlabs, please contact us.
๐ ahrin.lee@greenlabs.co.kr
GrainScanner: Your Partner in Agri-Food Trade
๐ฐGlobal Grain Keyword News
Here are this week's key updates in the global grain market. Stay informed on the latest trends in grain exports, price movements, and production forecasts from major countries. Let's dive into the top news stories and understand the current market dynamics.
1. US corn, soy, wheat ratings top expectations despite flooding
CHICAGO, July 8 (Reuters) - The USDA reported that 68% of U.S. corn and soy crops are in good-to-excellent condition, the highest rating for this time of year since 2020, despite recent storms in the western Midwest. This surpasses analyst expectations and marks an increase from 67% the previous week. The favorable crop conditions have contributed to future prices of corn and soy reaching four-year lows due to ample supply. The U.S. winter wheat harvest is progressing rapidly, with 63% complete, up from 54% last week. Meanwhile, 75% of the spring wheat crop in the northern Plains is rated good-to-excellent, also an improvement from last week.
๐ Read Full Article> us-corn-soy-wheat-ratings-top-expectations-despite-flooding | xm.com
๐ฌ Even with the weather's wild swings, American farmers stay rock steady!
2. Europe’s Wheat Production Expected to Hit Lowest Level in a Decades
Due to extreme weather events since last spring, this year's wheat production in Europe is projected to fall below expectations. Notably, in France, one of Europe's key wheat producers, the production is anticipated to range between 29 million and 30 million tons. This is 11% lower than the average production over the past decade and marks the lowest level since 2016.
๐ Read Full Article> Grain Highlights 09.07.2024 | grainsprices.com
๐ฌ Wheat shortage in the land of bread
3. Argentina Soybean Harvest Hits Five-Year High
The Buenos Aires Grain Exchange reported on Thursday that Argentina's soybean production for the 2023/24 season concluded with a final harvest of 50.5 million tons, marking the highest yield in the past five years despite extreme summer heatwaves. Initially, the exchange had projected a harvest of 52.5 million tons, but in this week's report, it stated, "The soybean harvest is considered to be finished," indicating the end of this year's soybean harvest.
๐ Read Full Article> argentinas-soybean-harvest-ends-at-five-year-record/ hellenicshippingnews.com
๐ฌ Argentina's Soybean Bumper Crop: Will It Lead to Price Cuts?
4. Lower-Than-Expected Barley Harvest in France Increases Concerns for Wheat
The ongoing winter barley harvest in France, the largest grain producer in the European Union, is yielding less than expected due to adverse weather conditions damaging crops. This has heightened concerns for the upcoming wheat harvest. Since autumn, France's wet weather and soggy fields have delayed planting, hindered plant development, and increased crop diseases, leading observers to regularly downgrade grain harvest estimates.
๐ Read Full Article> worse-than-expected-french-barley-crop-raises-concern-over-wheat | hellenicshippingnews.com
๐ฌ France is facing shortages in both wheat and barley harvests!
5. INigeria Suspends Grain Import Taxes to Curb Inflation
Nigeria plans to temporarily suspend import taxes on certain grains, including wheat and corn, to curb soaring food prices. This suspension will be in effect for 180 days, as food inflation has caused prices to rise by more than 40% compared to the previous year. According to the USDA, Nigeria's grain consumption is expected to decrease due to these economic difficulties.
๐ Read Full Article> nigeria-plans-suspension-of-food-import-taxes | world-grain.com
๐ฌ Inflation's getting a timeout in Nigeria with a grain tax break!
This week's global grain news covers key supply and demand trends. Morocco imported over 200,000 tons of wheat from Russia due to low domestic production. Mexico's new President Claudia Sheinbaum has dropped plans to reduce yellow corn imports, focusing on white corn self-sufficiency. China's COFCO International expects higher soybean and corn harvests in Brazil for 2024/25 and is expanding the Santos port terminal. France's wheat crop is at a four-year low due to rain, with declining winter barley production. Iran's wheat production rose by 6% to 14 million tons, meeting domestic needs.
Understanding these trends is crucial. Fluctuations in production and import policies affect pricing and availability. Staying informed helps buyers make strategic decisions, such as diversifying sources or securing contracts early to mitigate supply chain risks.
GrainScanner updates new articles every week.
If you're interested in Greenlabs, please contact us.
๐ ahrin.lee@greenlabs.co.kr
GrainScanner: Your Partner in Agri-Food Trade