India draws down wheat stockpile to fight food inflation
India's government-owned wheat stockpile was forecast to fall to its lowest level in 15 years as the result of the effort to squelch food inflation, said USDA analysts.
With eye on Ukraine, G7 ag ministers warn nations to avoid food hoarding and profiteering
To mitigate the impact of war in Ukraine on global food supplies, the G7's agriculture ministers called on all nations to keep their trade channels open and to guard against unjustified limits on exports. "We will not tolerate artificially inflated prices that could diminish the availability of food and agricultural products," said the ministers in a statement after a special meeting convened via the internet.
U.S. losing market share in global corn and wheat sales
For decades, the United States was the super power of the grain world, holding one-third of the international trade in wheat and shipping roughly seven of every 10 bushels sold on the world market. The world market is growing in size, but USDA analysts say the United States is falling off the pace.