Wheat News - 23 Sep 2024

EU - European Commission Proposes €120 Million For Weather-Affected Farmers
EU - Wheat Prices Rise 1.8% To $5.78 Amid Crop Concerns
EU - Coceral Lowers 2024 Eu Grain Harvest To 280.3 Million Tons
España - Cereal Prices Rise Over 3% Monthly In Spanish Markets
Germany - German Wheat Prices Plummet From €435 To €200 Per Ton
Italy - Soft Wheat Imports Exceed 65% Of National Needs Amid Crisis
Poland - Wheat Prices Drop Up To 70 Zł, Corn At 201.75 Euro/T
Russia - Russia Among Top 3 Wheat Suppliers To China In August
Russia - Russian Wheat Export Prices Rise To $218 Per Ton
Russia - Russia'S Grain Exports Down 18.7% To 4.09 Million Tons
Spain - Spanish Farmers Demand Action Against 12 Million Tons Imports
Spain - Spain'S 5.7M Tons Cereal Demand Faces Aid Cuts Criticism
Ukraine - Ukrainian Grain Exports Reach 9.4 Million Tons By September 23
Ukraine - Ukraine May Increase Winter Wheat Planting Forecast If Rain Falls
Ukraine - Ukrainian Grain Exports Up 86% With Wheat Harvest Fourfold

Bangladesh - Bangladesh Plans 400,000 Tons Wheat Import Via Expedited Process
China - China'S Grain Harvest Reaches 695 Billion Kgs, 15% Completed
India - Madhya Pradesh Sets Wheat Stock Limit At 2,000 Metric Tons
India - Wheat Prices Expected To Decline Due To Government Scheme
Kazakhstan - Kazakhstan Exports Over 1 Million Tons Of Grain In 1.5 Months
Kazakhstan - Kazakhstan Plans To Harvest 20 Million Tons Of Grain Crop
Kazakhstan - Kazakhstan Achieves 16.7 Million Tons Harvest From 68% Area
Kazakhstan - North Kazakhstan Harvests 3.9 Million Tons From 2.2 Million Hectares
Turkey - Wheat Prices At 10,000 Lira; Import Ban Decision On October 15
Turkey - Turkey Denies Wheat Import Claims Amid 130% Customs Duty

Argentina - 20% Increase In Argentine Exports Totals $5.231 Billion
Argentina - Rainfall Insufficiency Affects 500,000 Hectares Of Corn, Wheat Drops To
Canada - Union Issues 72-Hour Strike Notice Impacting Farmers' Grain Exports
Paraguay - Wheat Exports Surge 49% In Value, 99% In Volume
U.S. - U.S. Grain Harvest Intensifies; Corn At $4.00, Soybeans $10.00
United States - Wheat Prices Rise To $5.65 Amid Black Sea Tensions
United States - Illinois Farm Earnings Drop $489,228 To Negative $77,131 In 2023
United States - Chaos Wheat Aims To Boost U.S. Production Amid Climate Challenges
United States - Strong Export Inspections: Wheat Up 122,288 Tons, Corn Up 533,911 Tons

World - Viterra Net Income Drops 50% To $70 Million Amid Low Prices
World - Wheat Surges Past $6.20, Ctva Targets $65
World - Fao Lowers 2024 Global Cereal Production Forecast To 2,851 Million Tons

Burkina Faso - Tax Exemptions For Wheat, Corn, Sorghum Flour Approved In Burkina Faso
Tunisia - Tunisia Aims For Self-Sufficiency With 30,000 Tons Of Seeds

Russia - Russian Wheat Exports Expected At 5.5 Million Tons By 2024
Russia - Russia May Revise Grain Harvest Forecast From 132 Million Tons

EU - European Commission Proposes €120 Million For Weather-Affected Farmers
The European Commission proposes nearly €120 million in support for farmers affected by weather anomalies in 2024. The funds will assist farmers in Bulgaria (€10.9 million), Germany (€46.5 million), Estonia (€3.3 million), Italy (€37.4 million), and Romania (€21.6 million). The proposal will be discussed by member states before a decision on October 7.(Европейская правда)

EU - Wheat Prices Rise 1.8% To $5.78 Amid Crop Concerns
Wheat prices rose 1.8% to $5.78 per bushel due to poor crop weather in Europe, with the grain crop estimate cut to 280.3 million metric tons. Soybeans increased 1.2% to $10.24-3/4, and corn rose 1.3% to $4.07-1/4, influenced by dry weather in Brazil delaying planting.(XM | The Scottish Farmer | ZAWYA | Réussir)

EU - Coceral Lowers 2024 Eu Grain Harvest To 280.3 Million Tons
Coceral forecasts the 2024 EU-27 plus UK grain harvest at 280.3 million tons, down from 2023, with wheat at 126 million tons, barley at 57.6 million tons, and corn at 60.3 million tons. Additionally, the European cereal harvest has been cut by over 10 million tons compared to 2023.(Farmer.pl | agrarheute.com | La France Agricole)

España - Cereal Prices Rise Over 3% Monthly In Spanish Markets
Cereal prices in Spanish markets have risen over 3% this month, with weekly increases noted in soft wheat (+0.87% to €224/ton), corn (+0.32% to €227.09/ton), and barley (+1.12% to €206.85/ton). However, prices remain lower than at the beginning of the year, with soft wheat down 7.48%. Farmers protest against Ukrainian imports affecting local prices.(AgroCLM)

Germany - German Wheat Prices Plummet From €435 To €200 Per Ton
German wheat prices have plummeted from €435 to €200 per ton, causing distress for farmers like Jobst Dismer. Increased imports from Ukraine are flooding the market at dumping prices under €160. While bread prices rise, profits go to mills and food companies, leaving farmers struggling. Costs for bakers also surged, with prices up 34.4% in four years.(BILD)

Italy - Soft Wheat Imports Exceed 65% Of National Needs Amid Crisis
Heavy rainfall in Northwestern Italy has negatively impacted the 2024 soft wheat harvest, reducing production by 8% to 2.85 million tons. Imports, typically 65% of the national requirement, will exceed two-thirds of consumption. Global production estimates have risen to 791.4 million tons, but remain below consumption, with declining ending stocks at 314.5 million tons.(Dolcesalato)

Poland - Wheat Prices Drop Up To 70 Zł, Corn At 201.75 Euro/T
Wheat prices in Poland have dropped by up to 70 zł, with most collection points reducing rates. On September 20, EU wheat futures fell by 9 euro to 216 euro/t. Corn prices also decreased to 201.75 euro/t, while rapeseed contracts rose by 7.50 euro to 462.75 euro/t. Domestic rapeseed prices are around 1920 zł/t.(Tygodnik Poradnik Rolniczy)

Russia - Russia Among Top 3 Wheat Suppliers To China In August
Russia ranked among the top three wheat suppliers to China in August, according to APK-Inform.(АПК-Інформ)

Russia - Russian Wheat Export Prices Rise To $218 Per Ton
Russian wheat export prices have increased to $218 per ton, with export volumes dropping to 0.84 million tons. The export duty is now 1,076.7 rubles per ton, and the total wheat harvest is 72.4 million tons. Additionally, prices rose to $217 per ton amid a September export of 4.8 million tons, with a total harvest of 105.9 million tons.(Русская служба The Moscow Times | XM)

Russia - Russia'S Grain Exports Down 18.7% To 4.09 Million Tons
Russia's grain exports from September 1 to 20 fell by 18.7% year-on-year to 4.09 million tons. Wheat shipments decreased by 10.8% to 3.75 million tons, while barley exports dropped by 62% to 257,000 tons. Egypt became the largest buyer with a 23.6% increase, and Russian wheat prices fell to $217 per ton, $29 cheaper than European wheat.(RIAMO.RU | Daily Moscow | Интерфакс)

Spain - Spanish Farmers Demand Action Against 12 Million Tons Imports
Spanish farmers are protesting for antidumping measures against Ukrainian wheat imports, which totaled over 12 million tons last year. The drought has caused local prices to drop by 45%, affecting farmers' livelihoods. Meanwhile, Ukrainian cereal imports to Spain reached 8.4 million tons in 2023, prompting demands for EU safeguards to protect local producers.(Economía 3 | CANTABRIA DIRECTA | Za49 | Zamora News)

Spain - Spain'S 5.7M Tons Cereal Demand Faces Aid Cuts Criticism
Spain is the largest buyer of Ukrainian corn, vital for animal feed, with imports benefiting local farmers despite protests against excessive imports. Meanwhile, UPA-Coag demands that Castilla y León deny aid to feed producers not prioritizing local cereals, emphasizing the region's production shortfall of 5.7 million tons and calling for better regulation.(EFEAGRO | Tribuna Salamanca | La Razón)

Ukraine - Ukrainian Grain Exports Reach 9.4 Million Tons By September 23
Ukrainian grain exports for the 2024/25 season reached 9.4 million tons by September 23, an increase from 6.2 million tons last year. This includes 5.4 million tons of wheat, 2.6 million tons of corn, and 1.2 million tons of barley. The government plans to limit wheat exports to 16.2 million tons.(Investing.com Brasil | Forbes Brasil | Notícias Agrícolas)

Ukraine - Ukraine May Increase Winter Wheat Planting Forecast If Rain Falls
Ukraine's agriculture ministry plans to revise upward its winter wheat planting forecast for the 2025 harvest if rain occurs, as planting is slower than usual. Currently, 340,300 hectares have been sown, down from 514,800 hectares last year. Winter wheat typically accounts for 95% of Ukraine's total wheat production, with potential plantings exceeding 5 million hectares.(LA NACION)

Ukraine - Ukrainian Grain Exports Up 86% With Wheat Harvest Fourfold
Ukrainian grain exports are significantly higher than last year, with wheat harvest nearly four times domestic consumption of 6 million tons, ensuring food security. Export prices for wheat rose by 100-150 UAH per ton, reaching 9,400-9,500 UAH for food wheat, despite a global price decline. Ukraine exported 5.26 million tons, an 86% increase from last year.(АПК-Информ On-Line | 24 Канал | 24 Канал)

Bangladesh - Bangladesh Plans 400,000 Tons Wheat Import Via Expedited Process
Bangladesh plans to import 400,000 tons of wheat through an expedited process to meet its demand.(АПК-Информ On-Line)

China - China'S Grain Harvest Reaches 695 Billion Kgs, 15% Completed
China is set for a strong autumn grain harvest, with over 15% of crops harvested by September 23, 2024. The 2023 grain output reached 695 billion kilograms, continuing a trend of over 650 billion kilograms for nine years. Rural residents' per capita disposable income increased by 6.6% to 11,272 yuan, emphasizing grain security and farmer support.(Xinhua | China Daily)

India - Madhya Pradesh Sets Wheat Stock Limit At 2,000 Metric Tons
The Madhya Pradesh government has set a wheat stock limit of 2,000 metric tons to stabilize prices and curb black marketing. Traders must comply within 15 days from September 9. Violations will result in strict actions, including seizure of excess stock. Relevant authorities have been empowered to enforce the new regulations under the Madhya Pradesh Wheat Control Order.(Zee Business हिंदी)

India - Wheat Prices Expected To Decline Due To Government Scheme
Wheat prices are expected to decline due to the government's open market sale scheme, which may negatively impact farmers. The initiative could lead to lower market prices, affecting the income of those reliant on wheat cultivation.(Khet Khajana)

Kazakhstan - Kazakhstan Exports Over 1 Million Tons Of Grain In 1.5 Months
Kazakhstan has exported over 1 million tons of grain in just one and a half months, according to APK-Inform. This significant export volume highlights the country's growing role in the global grain market.(АПК-Информ On-Line)

Kazakhstan - Kazakhstan Plans To Harvest 20 Million Tons Of Grain Crop
Kazakhstan aims to harvest 20 million tons of grain crops, indicating a significant agricultural target for the upcoming season.(Казинформ)

Kazakhstan - Kazakhstan Achieves 16.7 Million Tons Harvest From 68% Area
Kazakhstan has achieved a record harvest of 16.7 million tons of grain, with 68% of its 23.3 million hectares harvested. The average yield stands at 14.7 centners per hectare. So far, 2.5 million tons have been delivered to grain reception enterprises and 1 million tons exported, mainly to Uzbekistan and China.(АПК-Информ On-Line | inbusiness.kz | АПК-Інформ)

Kazakhstan - North Kazakhstan Harvests 3.9 Million Tons From 2.2 Million Hectares
As of September 23, 2024, North Kazakhstan has harvested 2.2 million hectares, yielding nearly 3.9 million tons of grain at an average of 17.1 c/ha. Frost threatens crop quality with temperatures dropping to minus seven degrees, and rising moisture levels may impact usability for bread production. 4.4 million hectares are targeted for harvest this year.(Петропавловск.news | Qazaqstan Media новости Петропавловска и СКО)

Turkey - Wheat Prices At 10,000 Lira; Import Ban Decision On October 15
Wheat prices are currently averaging 10,000 lira for bread wheat and 11,000 lira for pasta wheat, while barley is around 8,000 lira. Corn prices have risen to 10,000 lira due to low supply. The wheat import ban's status will be clarified on October 15, with potential impacts on domestic prices and industry concerns regarding export competitiveness.(Tarımdan Haber)

Turkey - Turkey Denies Wheat Import Claims Amid 130% Customs Duty
Both Ukraine and Turkey denied claims that Ukraine is paying for Turkish drones with wheat, labeling them as false. A 130% customs duty on wheat imports is enforced to protect farmers, with a suspension of imports from June 21 to October 15, 2024. The ministries emphasized these claims undermine their defense industry successes.(Anadolu Gazete | CNN TÜRK | Yeni İzmir Haber)

Argentina - 20% Increase In Argentine Exports Totals $5.231 Billion
The Argentine Agroindustrial Council reported a 20% increase in exports from January to August 2024 compared to the same period in 2023, totaling $5.231 billion. August exports reached $3.693 billion, an 8% rise from August 2023. Major contributors to growth were soy, wheat, and corn, while cotton and sugar-alcohol complexes also saw significant gains.(Noticias AgroPecuarias)

Argentina - Rainfall Insufficiency Affects 500,000 Hectares Of Corn, Wheat Drops To
Insufficient rainfall in Argentina has affected 500,000 hectares of corn, with only 4 to 6 mm of precipitation recorded, while 20 mm is needed. Additionally, wheat conditions in Entre Ríos have dropped to 62% good, down from 80%. About 570,000 hectares are planted with wheat, with varying conditions across regions. The La Niña phenomenon may worsen drought impacts.(Diario Democracia | El Diario de Entre Ríos)

Canada - Union Issues 72-Hour Strike Notice Impacting Farmers' Grain Exports
The Grain Workers Union Local 333 plans to strike for 72 hours starting Tuesday due to stalled negotiations with the Vancouver Terminal Elevators Association, impacting major terminals in Metro Vancouver. The Port of Vancouver strike is anticipated to severely disrupt grain exports and the agricultural supply chain, according to the Grain Growers.(BNN Bloomberg | The Western Producer)

Paraguay - Wheat Exports Surge 49% In Value, 99% In Volume
Wheat exports from Paraguay saw a significant increase of 49% in value and 99% in volume, generating USD 58.2 million, up USD 19.2 million compared to August 2023. A total of 247,000 tons were exported, matching last year's total. Despite below-average yields, the 2024 campaign shows promise, benefiting from favorable conditions in key production areas.(La Clave)

U.S. - U.S. Grain Harvest Intensifies; Corn At $4.00, Soybeans $10.00
Grain harvest in the U.S. is intensifying, particularly for corn and soybeans, with record productivity expected. Current corn prices hover around $4.00 per bushel, while soybeans are at $10.00. Wheat prices remain elevated due to geopolitical uncertainties. Investors should watch for potential price drops in the coming weeks, as historical trends indicate possible upward movements.(Forbes Brasil)

United States - Wheat Prices Rise To $5.65 Amid Black Sea Tensions
Wheat prices rose slightly this week, closing at $5.65 per bushel, up from $5.63. U.S. spring wheat harvest reached 92%, while winter wheat planting was at 14%. U.S. exports hit 6.9 million tons since June 1. Tensions in the Black Sea due to the Russia-Ukraine war impact the market, with Russian wheat prices at $201.75 per ton. France's wheat production is revised down to 25.8 million tons, the lowest since 1986.(Agrolink)

United States - Illinois Farm Earnings Drop $489,228 To Negative $77,131 In 2023
In 2023, average farm earnings in Illinois fell significantly to negative $77,131, a drop of $489,228 from 2022, due to rising costs and declining grain prices. Corn yields averaged 223 bushels per acre, while soybean yields were 68 bushels. Crop costs increased to $392.78 per acre, with corn production costs at $5.82 per bushel and soybeans at $13.46.(Successful Farming)

United States - Chaos Wheat Aims To Boost U.S. Production Amid Climate Challenges
Rising temperatures from climate change are adversely affecting U.S. wheat production, a major global exporter. Scientists and farmers are developing "Chaos Wheat," which aims to produce better-tasting bread while conserving soil and withstanding extreme weather. This innovation could mitigate the global impact of reduced wheat output.(The Weather Channel)

United States - Strong Export Inspections: Wheat Up 122,288 Tons, Corn Up 533,911 Tons
The USDA reports strong export inspections for the week ending September 19th, with wheat inspections at 711,073 tons, up 122,288 tons, and corn at 1,102,826 tons, an increase of 533,911 tons. Export inspections for the 2024/25 marketing year also exceed projections, with updates on supply and demand estimates expected soon.(brownfieldagnews.com | Ad Astra Radio News)

World - Viterra Net Income Drops 50% To $70 Million Amid Low Prices
Viterra Ltd. reported a significant net income drop from $141 million in H1 2023 to $70 million in the same period this year, attributed to low grain prices. Total revenue decreased by 22% year-on-year to $22.57 billion, while EBITDA fell from $1.08 billion to $691 million. Sales volume of key commodities dropped by 3% to 62 million tons. Viterra is merging with Bunge.(Wiadomości Rolnicze)

World - Wheat Surges Past $6.20, Ctva Targets $65
Agricultural commodities are experiencing a positive momentum shift from long-term lows, with wheat showing bullish potential through the Teucrium Wheat Fund (WEAT), which cleared resistance at $6.20. Corteva (CTVA) also exhibits positive momentum, with a projected price target of $65. Long-term support for CTVA is near $53.(CNBC)

World - Fao Lowers 2024 Global Cereal Production Forecast To 2,851 Million Tons
The FAO has downgraded its global cereal production forecast for 2024 to 2,851 million tons, nearly matching 2023 levels. This reduction is attributed to lower yields of secondary cereals like corn due to hot and dry weather. Conversely, wheat and rice production estimates have increased, with rice projected to reach a record 537 million tons. Global cereal usage is expected to rise slightly to 2,852 million tons.(Le Quotidien)

Burkina Faso - Tax Exemptions For Wheat, Corn, Sorghum Flour Approved In Burkina Faso
On September 19, Burkina Faso's Council of Ministers approved a measure to exempt taxes on the production of wheat, corn, and sorghum flour, aiming to support local businesses amid high production costs and competition from imports. This initiative is part of a broader strategy to boost industrialization and local agricultural production, with a focus on ensuring food sovereignty.(Editions Le Pays)

Tunisia - Tunisia Aims For Self-Sufficiency With 30,000 Tons Of Seeds
Rainfall has brought optimism for Tunisia's 2024-2025 cereal campaign, but factors like soil preparation and seed quality are crucial for success. Italian wheat varieties "Saragolla" and "Iride" show resilience and high yields, with "Saragolla" achieving over 83 quintals per hectare. The government supports farmers with 30,000 tons of seeds and 370,000 tons of fertilizers, aiming for self-sufficiency in durum wheat.(La Presse de Tunisie)

Russia - Russian Wheat Exports Expected At 5.5 Million Tons By 2024
By September 2024, Russian wheat exports may reach 5.5 million tons, matching last year's record. Export prices are stable at $216-217 per ton. While prices for 4th class wheat rose to 14,600-15,000 rubles/ton in the South, they declined in Central Russia and the Volga region. Last season, total wheat exports were 54.1 million tons.(Ореанда-Новости | Интерфакс | Агроинвестор)

Russia - Russia May Revise Grain Harvest Forecast From 132 Million Tons
Russia may revise its grain harvest forecast for 2024, currently at 132 million tons, after regional estimates are submitted. So far, 78% of the grain area is harvested, totaling 105.9 million tons, including 77.7 million tons of wheat. Experts predict yields may drop to 125 to 126 million tons for 2023, down from 144.9 million tons last year.(XM | Интерфакс)