Tight wheat supplies will keep prices volatile
The commonly used estimates of global wheat stocks are imperfect — some countries don’t publish data at all — but they indicate supplies, disrupted by the war in Ukraine, are the tightest since the food price crisis of 2007/08, said a blog by the IFPRI think tank.
Global corn trade tightens as Argentine, U.S. exports dip
Drought in Argentina and lackluster sales in the United States, two of the world’s major suppliers, will reduce global corn exports to their lowest volume in three years, said USDA analysts on Wednesday. Shipments from another leading source, Ukraine, were in question because an extension of the Black Sea Grain Initiative past March 18 has not been resolved.
Claim: War is poisoning Ukraine’s famously fertile soil
Ukrainian scientists say soil samples from the Kharkiv region show that “high concentrations of toxins such as mercury and arsenic from munitions and fuel are polluting the ground,” according to a Reuters report.
Squeeze on Ukraine farmers to grow more severe in 2023
Low producer prices and high input costs will discourage grain production in Ukraine this year, said an IFPRI blog, as the Russian invasion of its neighbor hit the one-year mark. “Reduced plantings in Ukraine mean that the world will need to produce additional grains and oilseeds to help rebuild stocks and moderate price levels,” wrote IFPRI senior research fellow Joe Glauber on Thursday.
Food affordability remains a global challenge
Fears of persistently high world food prices, sparked by Russia’s invasion of Ukraine and disruption of global supply chains, have subsided but food affordability remains a challenge at the household and macro-economic levels, said three analysts on Tuesday. “These risks will remain high” in …
Largest U.S. winter wheat plantings in seven years
With their 2022 crop fetching the highest season-average price on record, wheat farmers sowed 36.95 million acres of winter wheat for harvest this spring and summer — the largest total in seven years, said the Agriculture Department on Thursday.
Black Sea shutdown imperils global food security into 2023 ‘and perhaps beyond’
Ukrainian farmers and food-importing nations in the Middle East and North Africa will feel the pain of the Russian interruption of grain exports through the Black Sea corridor, said the IFPRI think tank on Monday. The importer nations face their highest need for grain in the months ahead with supplies in doubt and commodity prices jolted higher.
High input prices imperil 2023 crops in Ukraine
Ukrainian farmers may reduce plantings of wheat and other crops for harvest in 2023 because warfare has reduced their income at the same time they face high fuel and fertilizer costs, said two IFPRI analysts during a briefing on Tuesday. A small crop in Ukraine, usually a leading wheat and sunflower oil exporter, could prolong tight global supplies that have driven up grain prices worldwide.
Thanks to war, wheat-soy double crop shines
Last spring, the Biden administration encouraged U.S. farmers to grow more wheat in response to Russia’s invasion of Ukraine and said it would make crop insurance more widely available for growers who wanted to team winter wheat with soybeans. Now there’s another inducement: Double-crop wheat and soybeans would be more profitable in 2023 than standalone corn or soybeans, say university economists.
Rebound seen in wheat and corn exports from Ukraine
Russia will set a record for wheat exports during the current marketing year while Ukraine rebuilds its grain shipments, aided by the recent international agreement to end a blockade of its Black Sea ports, said USDA analysts. Bayer, the world's largest seed and ag chemical company, said on Monday that it would help rebuild Ukraine's agricultural system but also would continue to sell crop inputs in Russia, the instigator of war with Ukraine.
Survey: Young adults face higher rates of food insecurity
Gen Z adults were nearly twice as likely to have experienced food insecurity in the first half of 2022 than other adults, according to a report published by Purdue University’s Center for Food Demand Analysis and Sustainability. Among these adults — born after 1996, or 18 to about 26 years old — 30 percent experienced food insecurity, according to the analysis, which is based on monthly surveys of 1200 adults. (No paywall)
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.
World hunger rate rises quickly as global economy stutters
Nearly one in 10 people worldwide suffer from hunger, an increase of 150 million since the pandemic struck in 2020, and the numbers are sure to worsen, said the annual UN hunger report on Wednesday. “The global price spikes that we are seeing as a result of the crisis in Ukraine threaten to push countries around the world into famine,” said the leader of the World Food Program.
Temporary silos to speed Ukraine grain exports — Biden
The United States will build temporary grain silos on the border of Ukraine and Poland to help overcome a logistical barrier to exporting Ukrainian grain by rail, President Biden announced on Tuesday. "I'm working closely with our European partners to get 20 million tons of grains locked in Ukraine out onto the market to help bring down food prices," he said.
High commodity prices lure double-crop farmers — Survey
Nearly three of every 10 farmers with experience producing wheat and soybeans in one growing season say they will sow more winter wheat this fall, said a Purdue University poll on Tuesday. The practice, known as double-cropping wheat and soybeans, would mean larger wheat production in the United States and would help buffer the disruption in world food supplies created by Russia's invasion of Ukraine.
Boom in commodity prices more likely to be transitory than permanent
Electrified by Russia's invasion of Ukraine, commodity prices are sky high, with soybean futures topping $16.80 a bushel and the USDA forecasting the highest-ever farm-gate price for wheat. But high prices for corn, wheat and soybeans are far more likely to revert to their long-term averages than mark the dawn of a new era of permanently higher prices, said five university economists on Tuesday.
Record U.S. farm exports amid global turmoil
The United States will export a record $191 billion worth of agricultural products this fiscal year as the world scrambles to replace the corn, wheat, and vegetable oil it would normally get from Russia and Ukraine, said the Agriculture Department on Thursday. It would be the second year in a row of record-high farm exports.
Export bans worsen global food crisis, says research group
Despite the experience of food price spikes a decade ago, nations are compounding the disruptions of warfare in the Black Sea region by hoarding their domestic supplies, said the global research group CGIAR.