[June 28] This week's World Grain Market News

GrainScanner
28 Jun 2024

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๐Ÿ“ฐGlobal 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. India imposes stockholding limits on wheat to augment supplies, check prices

India has imposed limits on wheat storage to prevent hoarding and ensure supply amid rising prices. Despite a slightly higher projected wheat output of 112.9 million mt for 2023-24, actual harvest may be lower at 107-108 million mt. Government procurement fell short of targets, leading to price hikes. Wheat stocks hit a 16-year low of 7.5 million mt in April, though sufficient for public distribution. Export restrictions may extend to March 2025. Mandatory wheat stock declarations have been enforced to ensure availability.

๐Ÿ”—  Read Full Article> India imposes stockholding limits on wheat to augment supplies, check prices | spglobal.com

๐Ÿ’ฌ The Indian government tries to rein in wheat prices but risks facing a grain crisis


2. Ukraines grain sector remarkably resilient

Ukraine's grain exports have nearly returned to pre-war levels despite Russia's attempts to disrupt infrastructure. The country has adapted by using alternative routes and developing a new sea corridor. Before the conflict, 90% of exports were via Black Sea ports, now utilizing river, rail, and truck transport. Ukraine is forecast to export 56 million tonnes of grain in 2024-25. Nibulon, a major grain exporter, has rebounded under new leadership after its CEO was killed in a Russian missile strike. Ukraine's grain industry remains resilient and determined to maintain its global market presence.

๐Ÿ”—  Read Full Article> ukraines-grain-sector-remarkably-resilient | world-grain.com

๐Ÿ’ฌ Ukraine's grain industry demonstrates remarkable resilience and adaptability in the face of war.


3. Wheat exports from Russia may drop by almost a third in July, according to forecasts from Rusagrotrans

In July 2024, Russia's wheat exports are forecasted to drop to 2.7-2.9 million tons from 4.2 million tons in July 2023, due to reduced global competitiveness and producers holding back for higher prices, according to "Rusagrotrans." Despite this, June exports are expected to be 4.3 million tons, 14% higher than last year. Export prices for Russian wheat have decreased to $231.5 per ton. Domestic prices in deep-water ports rose to 16,500-17,000 rubles per ton. Regional prices varied, with declines in the South and Volga regions, and stability in Central Russia and Siberia.

๐Ÿ”—  Read Full Article> ะญะบัะฟะพั€ั‚ ะฟัˆะตะฝะธั†ั‹ ะธะท ะ ะค ะฒ ะธัŽะปะต ะผะพะถะตั‚ ัƒะฟะฐัั‚ัŒ ะฟะพั‡ั‚ะธ ะฝะฐ ั‚ั€ะตั‚ัŒ, ะฟั€ะพะณะฝะพะทะธั€ัƒัŽั‚ ะฒ "ะ ัƒัะฐะณั€ะพั‚ั€ะฐะฝัะต" | oilworld.ru

๐Ÿ’ฌ Russian wheat export dip highlights market pressures and strategic holding by producers.


4. French soft wheat rating holds at four-year low as rain persists

France's main wheat crop condition remains at a four-year low with 62% rated good/excellent, unchanged from the previous week and down from 83% a year ago. Wet weather has stressed crops and raised concerns about poor yields and crop disease. Winter barley ratings also dropped to 64% good/excellent from 65% the previous week, with no harvest yet. The agriculture ministry predicts an 11% decline in winter barley production due to reduced planting and yields.

๐Ÿ”—  Read Full Article> French soft wheat rating holds at four-year low as rain persists | hellenicshippingnews.com

๐Ÿ’ฌ France's crops are in deep water, quite literally!


5. Wheat recovers from two-month low, US harvest limits gains

Chicago wheat prices rebounded slightly from a two-month low due to bargain-buying, though U.S. harvest pressure and better Russian weather may limit gains. Corn and soybeans rose as the market evaluated flood impacts in the U.S. Midwest. Wheat prices have fallen this week due to good U.S. harvest yields and improved weather in Russia. Flooding in the Midwest may ultimately benefit crops. A European heatwave could harm southeastern summer crops but aid other regions after prolonged rains.

๐Ÿ”—  Read Full Article> Wheat recovers from two-month low, US harvest limits gains | hellenicshippingnews.com

๐Ÿ’ฌ Chicago wheat rebounds, but harvest and weather pressures persist.


This week's global grain news highlights the challenges and resilience in the grain markets. From India's storage limits to Ukraine's remarkable export recovery, each region faces unique hurdles. Russian wheat exports are forecasted to drop, France struggles with poor crop conditions, and Chicago wheat prices experience fluctuations due to market pressures. These stories underscore the ongoing volatility and adaptability within the global grain industry.


GrainScanner updates new articles every week.

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