Commodity prices soften, although still elevated
Steered by fears of recession and a clearer picture of this year’s global grain harvest, the sky-high commodity prices fueled by Russia’s invasion of Ukraine are losing momentum, analysts said on Thursday. The USDA was likely to scale back its estimates of record-high farm-gate prices for this year’s wheat and soybean crops despite the uncertainties caused by warfare in the Black Sea region.
Drought imperils Afghanistan grain and livestock
At the same time the Taliban are taking control of Afghanistan, its farmers and herders, the backbone of the nation's economy, are hit by an ever-worsening drought, said the UN Food and Agriculture Organization. The wheat crop is 15 percent below average while livestock herders may have to sell their animals because of high feed costs.
Rebound in Europe to fuel largest-ever global wheat crop
World wheat production will rise for the third year in a row, with growers harvesting a record-large crop this year, say forecasts from the UN Food and Agriculture Organization and the International Grains Council. While they differ slightly on how large the new crop, months away from harvest, will be, they agree Europe will be key.
Record global corn and wheat crops on the way
World grain production will reach an all-time high of 2.23 billion tonnes, with record-setting wheat and corn harvests, said the International Grains Council on Thursday. The global inventory of all grains will rise for the first time in four years.
World grain supplies tighten, U.S. soy exports shrink
From the EU to the Urals, drought is hurting wheat and barley crops, said the International Grains Council, forecasting the smallest world grain crop in three years and the smallest “carry-over” supplies in four years.
FAO food index is highest since November
Propelled by stronger grain and dairy prices, the Food Price Index rose for the second month in a row and is at its highest level since last November, said the UN Food and Agriculture Organization.
Smaller wheat crop pulls down global grain output
The International Grains Council forecasts a modest decline in global grain production that will lead to a sharp reduction in the grain “carryover” at the end of 2018/19.
Merger proposal would shorten the grain trade’s ABCD to three letters
The largest U.S. grain processor, ADM, is pursuing a takeover of Bunge, another of the giants of the grain trade that collectively are known as ABCD — ADM, Bunge, Cargill, and Louis Dreyfus, an unnamed source told Reuters. Due to low prices engendered by a string of bumper crops worldwide, margins are tight in the grain trade.
Food, feed and industrial demand boost grain usage to a record high
World consumption of grain will exceed 2.1 billion tonnes during 2017/18, a record due to "new peaks for food, feed and industrial uses," according to estimates by the London-based International Grains Council. "Food demand is expected to continue to drive increases for wheat while growth for feed and industrial use will push maize (corn) utilization to a new high."
Corn surge fuels second-highest grain harvest ever
Larger corn crops in Argentina and the United States will push global grain production to the second-highest total ever, just a year after the record was set, said the International Grains Council, based in London. The global appetite for grain continues to grow, likely setting its own record, so the global stockpile will shrink by 5 percent, said the council’s monthly Grain Market Report.