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. Changes to expected decline in Russian wheat production
According to forecasts from Russian agricultural statisticians, Russia's wheat exports this month are expected to fall short of predictions, totaling 2.5 million tons. This shortfall is attributed to the anticipated decline in wheat production in the Rostov region, one of Russia's key wheat-producing areas. Consequently, the wheat export tax has also been adjusted, increasing by approximately 5% from the previous week to $20.26 per ton.
๐ Read Full Article> Grain Highlights 14.07.2024 | grainsprices.com
๐ฌ Prepare for rising wheat prices๐ฅฒ
2. China's soybean imports continue to increase
China's soybean imports in June increased by 10.7% compared to the same month last year, reaching an annual import volume of 10.54 million tons. Brazilian soybeans, which are more price-competitive than U.S. soybeans, have become the main import target. This year, China's soybean import volume is expected to reach a record high due to potential trade tensions and price declines related to the upcoming U.S. presidential election. These changes are significantly impacting China's soybean import trends and price fluctuations.
๐ Read Full Article> chinas-june-soybean-imports-up-10-7-buyers-focus-on-brazil-crop | hellenicshippingnews.com
๐ฌ Soybean imports from China and Brazil are increasing!
3. Significant Decline Expected in Brazil's Corn Production and Exports
Brazil's corn production and export volumes are expected to decrease. The main reason for this decline is unfavorable weather conditions, particularly dry weather, which has negatively impacted crop yields. For the 2023-2024 season, corn production is estimated to be around 116.8 million tons, a 12% decrease from last year. Export volumes are also expected to drop by 38% due to reduced demand from China and competition from the U.S. and Argentina. This decline could impact the international market, potentially causing fluctuations in corn prices.
๐ Read Full Article> Brazil corn production, exports to drop | world-grain.com
๐ฌ Will corn raw material prices rise further?
Global Shipping Crisis: Increasing Uncertainty in the Grain Market and Supply Chain
Recent shipping crises and supply chain disruptions have significantly impacted the global grain market. Various factors are causing obstacles in maritime transport and supply chains, including Houthi rebel attacks in the Red Sea, the Black Sea shipping crisis due to the Ukraine war, port closures from hurricanes in Texas, and weather anomalies preventing passage around the Cape of Good Hope. The resulting barriers to grain export and pricing are as follows:
Production Aspect: Weather anomalies can damage crop yields, leading to reduced production of major grains. Conflicts and wars in the Red and Black Seas disrupt agricultural activities and hinder crop harvesting. Notably, Ukraine, a significant global grain exporter, faces production disruptions due to the war, heavily impacting global grain supply. Additionally, hurricanes in Texas cause regional crop damage and reduced production, contributing to an overall decline in grain supply.
Maritime Logistics and Supply Chain Aspect: Port closures and logistical disruptions delay grain exports and imports. Houthi rebel attacks in the Red Sea and the war in the Black Sea disrupt the operation of major ports, hindering the smooth transportation of grains. This causes chaos in global supply chains and increases logistics costs. For example, temporary blockages of shipping routes around the Cape of Good Hope lead to time-consuming searches for alternative routes, resulting in increased logistics costs.
Impact on Grain Prices: Shipping crises and supply chain disruptions increase uncertainty in the grain market, heightening price volatility. Reduced grain production and logistical delays leading to supply shortages can drive up grain prices. The shipping crisis in the Red and Black Seas delays grain exports, reducing market supply and driving prices up. Moreover, port closures due to hurricanes in Texas delay grain exports and imports, leading to supply shortages and price increases.
Due to these factors, the grain market has shown high volatility recently. Going forward, it is crucial to closely monitor the impacts of various weather anomalies and political instabilities on grain supply and prices. Efforts are needed to ensure the stability of the global grain market and maintain supply chain efficiency.
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. Changes to expected decline in Russian wheat production
According to forecasts from Russian agricultural statisticians, Russia's wheat exports this month are expected to fall short of predictions, totaling 2.5 million tons. This shortfall is attributed to the anticipated decline in wheat production in the Rostov region, one of Russia's key wheat-producing areas. Consequently, the wheat export tax has also been adjusted, increasing by approximately 5% from the previous week to $20.26 per ton.
๐ Read Full Article> Grain Highlights 14.07.2024 | grainsprices.com
๐ฌ Prepare for rising wheat prices๐ฅฒ
2. China's soybean imports continue to increase
China's soybean imports in June increased by 10.7% compared to the same month last year, reaching an annual import volume of 10.54 million tons. Brazilian soybeans, which are more price-competitive than U.S. soybeans, have become the main import target. This year, China's soybean import volume is expected to reach a record high due to potential trade tensions and price declines related to the upcoming U.S. presidential election. These changes are significantly impacting China's soybean import trends and price fluctuations.
๐ Read Full Article> chinas-june-soybean-imports-up-10-7-buyers-focus-on-brazil-crop | hellenicshippingnews.com
๐ฌ Soybean imports from China and Brazil are increasing!
3. Significant Decline Expected in Brazil's Corn Production and Exports
Brazil's corn production and export volumes are expected to decrease. The main reason for this decline is unfavorable weather conditions, particularly dry weather, which has negatively impacted crop yields. For the 2023-2024 season, corn production is estimated to be around 116.8 million tons, a 12% decrease from last year. Export volumes are also expected to drop by 38% due to reduced demand from China and competition from the U.S. and Argentina. This decline could impact the international market, potentially causing fluctuations in corn prices.
๐ Read Full Article> Brazil corn production, exports to drop | world-grain.com
๐ฌ Will corn raw material prices rise further?
Global Shipping Crisis: Increasing Uncertainty in the Grain Market and Supply Chain
Recent shipping crises and supply chain disruptions have significantly impacted the global grain market. Various factors are causing obstacles in maritime transport and supply chains, including Houthi rebel attacks in the Red Sea, the Black Sea shipping crisis due to the Ukraine war, port closures from hurricanes in Texas, and weather anomalies preventing passage around the Cape of Good Hope. The resulting barriers to grain export and pricing are as follows:
Production Aspect: Weather anomalies can damage crop yields, leading to reduced production of major grains. Conflicts and wars in the Red and Black Seas disrupt agricultural activities and hinder crop harvesting. Notably, Ukraine, a significant global grain exporter, faces production disruptions due to the war, heavily impacting global grain supply. Additionally, hurricanes in Texas cause regional crop damage and reduced production, contributing to an overall decline in grain supply.
Maritime Logistics and Supply Chain Aspect: Port closures and logistical disruptions delay grain exports and imports. Houthi rebel attacks in the Red Sea and the war in the Black Sea disrupt the operation of major ports, hindering the smooth transportation of grains. This causes chaos in global supply chains and increases logistics costs. For example, temporary blockages of shipping routes around the Cape of Good Hope lead to time-consuming searches for alternative routes, resulting in increased logistics costs.
Impact on Grain Prices: Shipping crises and supply chain disruptions increase uncertainty in the grain market, heightening price volatility. Reduced grain production and logistical delays leading to supply shortages can drive up grain prices. The shipping crisis in the Red and Black Seas delays grain exports, reducing market supply and driving prices up. Moreover, port closures due to hurricanes in Texas delay grain exports and imports, leading to supply shortages and price increases.
Due to these factors, the grain market has shown high volatility recently. Going forward, it is crucial to closely monitor the impacts of various weather anomalies and political instabilities on grain supply and prices. Efforts are needed to ensure the stability of the global grain market and maintain supply chain efficiency.
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