Wheat News - 19 Sep 2024

EU - Fed Cuts Rates By 0.5 Points, Wheat Prices Decline
EU - Igc Cuts Wheat Forecast To 798 Million Tons, Prices Rise 4.3%
EU - Grain Prices Shift: Corn Rises As Wheat Drops 25%
England - England'S Wheat Production Expected To Decline By Almost 20%
France - European Wheat Prices Range From €220 To €225 Per Ton
France - Wheat Prices Dip 82.9 Mt As Corn Faces Pressure
Italy - Unimer'S Fertilizers Boost Wheat Yields On 1.8 Million Hectares
Poland - Poland'S Grain Production Estimated At 35.6 Million Tons
Russia - First Cargo Express Departs Kazan With 3,000 Tons Of Wheat
Russia, Ukraine - Wheat Prices Rise Amid Supply Concerns From Russia, Ukraine
Rússia - Four Russian Grain Regions Face Emergency, Damages Exceed $3 Million
Ukraine - Bread Prices In Ukraine To Rise 4-6% By Summer 2024
Ukraine - Farmers Plan To Sow 4.5-5 Million Hectares With Wheat
Ukraine - Ukraine Grain Exports Up 51.5% To 9 Million Tons
Russia - Warm Autumn Causes Record Low 6.3 Million Hectares Sowed

Russia - Russia Increases Wheat Exports To Mexico By 946,600 Tons Russia - Altai Farmers Harvest 1.5M Hectares, Exports 970K Tons Grain

Argentina - Argentina Grain Ships Load 15% Less Cargo Amid Low River Levels
Argentina - Argentina Faces Abandonment Of Wheat On 6.3M Hectares
Brazil - Wheat Congress 2024 Set For October 23-25 In Brazil
Brazil - Brazil Approves Additional 250,000 Tons Wheat Import Quota
Canada - Durum Wheat Prices: Canada Up To Cad 393.76 Per Ton
USA - Grain Prices Fall After Usda Export Report, Wheat Pressured
USA - Wheat Prices Drop 1.8% Amid Weak Eu Exports
USA - Soybean Futures Up 0.8% To $10.14, Corn Up 0.06%

Israel - Israel Invests 500 Million Shekels To Boost Wheat Production
Kazakhstan - Kazakhstan Exports 4 Million Tons Of Grain Via Railways
Turkey - 100 Tons Wheat Buried In Turkey, 10 Million Tons Imported

World - Yellow Rust Threatens Wheat With 53-74 Kg Loss Per Hectare
World - Igc Forecasts Record 2.315 Billion Tonnes Grain Production

Nigeria - Enugu Signs N40Bn Mou To Revive Sunrise Flour Mill

EU - Fed Cuts Rates By 0.5 Points, Wheat Prices Decline
The Federal Reserve's decision to cut interest rates by 0.5 points is negatively impacting European grain markets. This monetary easing weakens the dollar against other currencies, including the euro, leading to a decrease in euro-denominated prices. The market anticipates further rate cuts in the coming months, continuing to exert downward pressure on prices.(Terre-net)

EU - Igc Cuts Wheat Forecast To 798 Million Tons, Prices Rise 4.3%
The International Grains Council (IGC) cut its global wheat production forecast for 2024/25 by 1 million tons to 798 million tons, mainly due to a decrease in the EU's output. Wheat prices rose 4.3% to USD 533/bushel amid reduced Russian exports and tight global stocks at a 10-year low of 31.9% for 2024/25.(Forbes Brasil | O Presente Rural)

EU - Grain Prices Shift: Corn Rises As Wheat Drops 25%
Grain prices are fluctuating, with corn rising amid a 25% drop in EU wheat exports to 5.4 million tons. Euronext wheat prices fell to €215.25 per metric ton, down 1.5%, marking the fourth decline. Russian and Ukrainian exports are affecting the market, while French soft-wheat exports are forecasted to drop 61% year-on-year.(topagrar.pl | Terre-net | MarineLink)

England - England'S Wheat Production Expected To Decline By Almost 20%
England is facing its third worst harvest on record, with wheat production expected to decline by almost 20%. This situation is attributed to months of significant rainfall, according to data from the Energy and Climate Intelligence Unit (ECIU) and AHDB.(Farmers Guardian)

France - European Wheat Prices Range From €220 To €225 Per Ton
European wheat prices fluctuated between 220 and 225 euros per ton, influenced by geopolitical tensions and low stock estimates below 10 million tons. U.S. corn production was revised up to 385.7 million tons, yet prices rose due to speculative trading. Dry weather in Brazil could impact soybean and corn planting, adding to market volatility.(La France Agricole)

France - Wheat Prices Dip 82.9 Mt As Corn Faces Pressure
Wheat prices slightly decreased from September 11 to 18 due to Eastern European competition, with Russia's harvest forecast raised to 82.9 Mt. FranceAgriMer cut its 2024-2025 ending stocks forecast from 3 Mt to 2.7 Mt. Between September 17 and 18, wheat prices stabilized, while corn prices faced pressure from U.S. harvest expectations.(Réussir | Réussir)

Italy - Unimer'S Fertilizers Boost Wheat Yields On 1.8 Million Hectares
Unimer's organo-mineral fertilizers provide excellent yields with fewer nutrients compared to mineral fertilizers. Wheat, cultivated on over 1.8 million hectares in Italy, requires precise fertilization to avoid environmental risks. Trials in Ravenna and Foggia showed that Unimer's products achieved comparable or superior yields, enhancing nitrogen use efficiency, despite varying weather conditions over five years.(Terra è vita)

Poland - Poland'S Grain Production Estimated At 35.6 Million Tons
Poland's grain production is estimated at 35.6 million tons for both 2023 and 2024, with one-third exported. The USDA projects Ukrainian wheat exports at 15 million tons for the 2024-2025 season, a 19% decline. Competitive Black Sea grain prices are affecting Western European sales, while global wheat production may increase by 0.8% to 796.88 million tons.(Wnp.pl | Farmer.pl)

Russia - First Cargo Express Departs Kazan With 3,000 Tons Of Wheat
The first cargo express with 3,000 tons of wheat from Kazan to Turkey was dispatched today via the Sviyazhsk-Zernoprodukt elevator complex. The shipment consists of 43 railcars, aiming to reach Novorossiysk in under a week, saving about 15% on logistics. Annually, 1-1.5 million tons of excess grain need to be sold outside Tatarstan.(БИЗНЕС Online)

Russia, Ukraine - Wheat Prices Rise Amid Supply Concerns From Russia, Ukraine
Dried soils in Russia and Ukraine are jeopardizing next year's wheat planting, impacting a quarter of global wheat exports. With conditions potentially worsening, the planting window for winter crops may shorten. World wheat prices are rising, reflecting concerns over Black Sea supply. Ukraine's output is a third below pre-war levels, while Russia's crop has decreased by 10 percent.(KFGO)

Rússia - Four Russian Grain Regions Face Emergency, Damages Exceed $3 Million
The Krasnoyarsk region in Russia declared a state of emergency due to heavy rains damaging winter crops, raising the total to four affected grain-producing regions in Siberia. These areas contributed about 5% of last year's grain harvest. Damages exceed 280 million rubles ($3 million) across over 17,000 hectares, while Russia maintains its grain harvest forecast at 132 million tons.(Notícias Agrícolas)

Ukraine - Bread Prices In Ukraine To Rise 4-6% By Summer 2024
Bread prices in Ukraine are expected to rise due to a nearly 40% increase in raw material costs and soaring electricity prices. Wheat prices have surged by 47.4% and 37.6% for different grades. Experts predict a 4-6% increase in bread prices by late summer 2024, with bakeries operating at nearly zero profit margins.(УНИАН)

Ukraine - Farmers Plan To Sow 4.5-5 Million Hectares With Wheat
Farmers in Ukraine plan to sow 4.5 to 5 million hectares with winter wheat, according to the Agrarian Policy Ministry. This initiative aims to bolster crop production amid fluctuating agricultural conditions.(Ukrainian News Agency)

Ukraine - Ukraine Grain Exports Up 51.5% To 9 Million Tons
Ukraine has increased its grain exports by 51.5% to 8.9 million tons since the beginning of the 2024/2025 season.(Украинские Новости | Ukrainian News Agency)

Russia - Warm Autumn Causes Record Low 6.3 Million Hectares Sowed
Warm autumn in Russia threatens future wheat and spring crop yields due to a record low of 6.3 million hectares of winter crop sowing by mid-September 2024, the lowest in a decade. Experts warn that ongoing drought, with only 20% of normal rainfall in September, complicates sowing and may worsen the situation from last year's 10% yield reduction.(Хибины.ru)

Russia - Russia Increases Wheat Exports To Mexico By 946,600 Tons Russia is significantly increasing wheat exports to Mexico, reaching nearly 550,000 tons by September 2024. Exports surged from 30,400 tons in 2021 to 946,600 tons in 2023, capturing 19% of Mexico's market. Mexico's total wheat consumption is 7.9 million tons, heavily reliant on imports, with U.S. shipments declining. Russia and Canada are competing for market share.(Интерфакс) Russia - Altai Farmers Harvest 1.5M Hectares, Exports 970K Tons Grain Altai Krai's agricultural producers face harvesting challenges due to heavy rains, with 1.5 million hectares harvested by September 19, yielding 3.1 million tons. The harvest pace is 1.5 times slower than in 2021-2022. In 2024, Altai exported 970,000 tons of grain, with increased buckwheat imports to China and a 14% rise in wheat flour exports.(Алтайская правда | Алтайская правда)

Argentina - Argentina Grain Ships Load 15% Less Cargo Amid Low River Levels
Argentina's grain ships are loading significantly less cargo due to near-record low water levels in the Parana River, currently at 0.38 meters, well below the normal 2.5 meters. This situation, exacerbated by a drought in Brazil, results in a 15% reduction in cargo capacity. The Rosario grains exchange warns of potential significant losses for the agroindustry as conditions persist.(Successful Farming)

Argentina - Argentina Faces Abandonment Of Wheat On 6.3M Hectares
Argentina's 2024/25 wheat season is challenged by drought, leading to abandoned fields across 6.3 million hectares, particularly in the northwest and northern areas. Despite this, 80% of crops in the eastern region are in good condition. Corn planting has begun, with 7.1% completed nationally.(Yahoo Finanzas | Notícias Agrícolas)

Brazil - Wheat Congress 2024 Set For October 23-25 In Brazil
The 31st International Congress of the Wheat Industry will be held from October 23-25, 2024, in Foz do Iguaçu, Brazil. Keynote speakers include political scientist Gustavo Segré and economist Sergio Vale. The event will address the current uncertainties in the wheat market and feature panels on topics such as technology, media, and sales channels in the wheat sector.(Portal Radar)

Brazil - Brazil Approves Additional 250,000 Tons Wheat Import Quota
Brazil has approved an additional tariff-free wheat import quota of 250,000 tons, addressing the near exhaustion of the annual quota of 750,000 tons for 2024. This measure benefits U.S. and Russian suppliers and is valid until December 31, responding to increased demand as Brazil's and Argentina's harvests are delayed. Brazil imported 4.56 million tons of wheat until August, a 65% rise from last year.(Compre Rural | XM | Yahoo Finanzas)

Canada - Durum Wheat Prices: Canada Up To Cad 393.76 Per Ton
International durum wheat markets are experiencing volatility, with Canadian prices for high-quality Cwad increasing slightly to CAD 393.76 per ton. In the U.S., Northern Durum remains stable at USD 290 per ton. Saskatchewan's production is expected to be below 6 million tons, and quality is declining, with an 8% drop in grade 1 Cwad expected. Italy's durum wheat prices remain stable.(Agronotizie)

USA - Grain Prices Fall After Usda Export Report, Wheat Pressured
Grain prices fell in Chicago following the USDA export report, influenced by investor profit-taking after three weeks of gains. Increased wheat shipments from the Black Sea region, driven by greater Russian competitiveness, also pressured prices. However, the euro's strength against the dollar may provide some support for U.S. wheat.(Revista Globo Rural)

USA - Wheat Prices Drop 1.8% Amid Weak Eu Exports
Chicago wheat futures fell 1.8% on Thursday, continuing a downward trend due to weaker EU soft wheat export performance and favorable conditions for U.S. winter wheat planting. U.S. wheat sales for the week ending September 12 dropped to 246,300 tons, nearly half of the previous week. Analysts expect temporary price declines, anticipating future increases due to lower global stocks and dry conditions in Russia and Ukraine.(Puls Biznesu)

USA - Soybean Futures Up 0.8% To $10.14, Corn Up 0.06%
Soybean futures rose 0.8% to $10.14 per bushel due to adverse weather concerns in the U.S. Midwest, impacting grain filling. Corn futures increased 0.06% to $4.1275 per bushel, supported by higher demand projections. Conversely, wheat futures fell 0.29% to $5.7575 per bushel, as weather forecasts did not boost prices despite market fundamentals suggesting otherwise.(Agrimídia)

Israel - Israel Invests 500 Million Shekels To Boost Wheat Production
Israel's Ministry of Agriculture announced a strategic plan to reduce wheat import dependence by investing 500 million shekels to increase local wheat cultivation. By 2050, agricultural water supply will rise by 270 million cubic meters annually, aiming to boost local grain share in consumption from 10% to 30%. A new water pipeline project is also planned, costing 400-500 million shekels.(NEWSru.co.il: Новости Израиля и Ближнего Востока)

Kazakhstan - Kazakhstan Exports 4 Million Tons Of Grain Via Railways
Kazakhstan's national railway operator, KTZ, transported over 5.2 million tons of grain in 2024, including 4 million tons for export. Milled products transported by rail increased by 17.4% to 2.3 million tons, with 1.8 million tons exported. Key exports included 2.5 million tons to Central Asia and 1.2 million tons to China. Harvesting has yielded 10.8 million tons from 44% of farmland.(Astana Times)

Turkey - 100 Tons Wheat Buried In Turkey, 10 Million Tons Imported
In Turkey, 100 tons of wheat were buried in Balıkesir, with half rotting, prompting criticism of the government for mismanaging imports before elections. Additionally, over 10 million tons of wheat were imported, causing local farmers to incur millions in losses as their product spoiled while imported wheat was safely stored, sold at a loss of 4.5 lira.(KARAR | Halk TV)

World - Yellow Rust Threatens Wheat With 53-74 Kg Loss Per Hectare
The presence of yellow rust in wheat, although low, necessitates increased monitoring due to potential yield losses of 53 to 74 kg per hectare per 1% severity increase. Key strategies include crop rotation, fertilization, and fungicide management. Sumitomo Chemical's Excalia Max, a new fungicide, shows promise, yielding an average increase of 700 kg per treatment.(Agroclave)

World - Igc Forecasts Record 2.315 Billion Tonnes Grain Production
The International Grains Council forecasts a record global grain production of 2.315 billion tonnes for 2024-25, with consumption at 2.325 billion tonnes. Ending stocks are expected to be at a 10-year low of 581 million tonnes. Soybean production is projected to rise by 7% to 419 million tonnes, driven by increased consumption, particularly for biofuels.(World Grain | Réussir)

Nigeria - Enugu Signs N40Bn Mou To Revive Sunrise Flour Mill
Enugu State Governor Peter Mbah signed a 40 billion naira MoU to revive the dormant Sunrise Flour Mill, established in 1983 but ceased operations in 1985 due to an economic recession. The agreement involves divesting 60% of the contract to JELFAH Group, aiming to enhance wheat manufacturing and cultivate farm supplies through integration.(TVCNews)