Wheat News - 26 Sep 2024

EU - Wheat Quality Decline 25-50% Amid Euronext Price Rise €2.25
France - French Wheat Harvest Declines 40-Year Low, €3.9 Billion Revenue
France - Starch Producers Adapt After France'S Poor Wheat Crop Impact
France - Starch Industry Revenue Rises 17% To €3.9 Billion In 2023
Ireland - Irish Feed Wheat Prices Hit €230/T, Soybean Production 419 Mmt
Italy - Cia Calls For Quality Standards In Imported Wheat At G7
Russia - Rye Production Declines To 1.4 Million Tons In 2024
Russia - Krasnodar Leads Soft Wheat Production With 7.9 Million Tons
Russia - Russia Aims 50% Grain Export Boost By 2030, 72 Million Tons
Spain - Wheat And Barley Prices Rise Up To €2/Tm
Spain - Soria Farmers Protest: Wheat Prices Plummet From €365 To €226
Ukraine - Bread Prices Rise 40% In Ukraine Amid 9.8 Million Tons Export

Argentina - Tax Burden On Farmers Up 1.6%, State Takes 61.5%
Argentina - Grain Markets Eye 130 Million Tons Harvest, 101.5 Million Exports
Brazil - Deral Projects 22.4 Million Tons Soybeans, Brazil Drought Halts Shipping
Canada - Canada Becomes Fifth Largest Wheat Exporter With Scientific Advances
Mexico - Tamaulipas Offers 270 Million Pesos Support For Farmers
U.S. - U.S. Export Sales Decrease 36% For Wheat To 158,900 Tons
United States - Kellanova Launches Regenerative Wheat Program In 2,000 Stores
United States - Soybean Prices Reach $10.64, Wheat Falls To $5.87

China - China Purchases Over 70 Million Tons Of Summer Grain
China - China Sets 2025 Import Tariff Quotas: Wheat 9.64M Tons
India - India'S Foodgrain Production Reaches Record 332.22 Million Tonnes
Kazakhstan - Citic Plans Wheat Plant As Karaganda Seeks 1 Million Tons
Turkey - Wheat Prices Reach 10,000 Lira Amidst Rotting Thousands
Turkey - Turkey Develops 3 New Wheat Varieties After 14 Years

Algeria - Algeria Aims For Wheat Self-Sufficiency To Cut Imports
Egypt - Egypt Wheat Production Projected At 9.2 Million Tons 2024-25
Nigeria - Nigeria Imports Maize, Wheat As Food Inflation Hits 37.52%
Zimbabwe - Zmx Opens 31 Warehouses For Wheat And Grain Trade

Russia - Russia'S Grain Exports Surge To 1.5 Million Tons
Russia - 10.6 Million Hectares Left To Harvest As Production Drops
Russia - Wheat Prices Rise €1.75 To €220.5/T, 8.3M

Australia - Wheat Supply Threatened As Australia Faces Extreme Weather

World - Wheat Futures Rise To $5.93 Per Bushel Amid Weather Concerns

EU - Wheat Quality Decline 25-50% Amid Euronext Price Rise €2.25
Wheat quality is expected to decline by 25-50% due to uncertainties in autumn harvests, affecting prices. Despite a 5% drop in large retail sales, organic demand increased by 8.5% in specialized stores and 3% in direct sales. Meanwhile, Euronext wheat prices rose by €2.25/t, reaching €222.75/t amid winter sowing concerns in the Black Sea region.(Réussir | Terre-net)

France - French Wheat Harvest Declines 40-Year Low, €3.9 Billion Revenue
French wheat production has hit a 40-year low due to excessive rain, raising costs for starch producers facing low demand. In 2023, the starch industry's revenue rose 17% to €3.9 billion, but volumes fell by 12% in food and 18% in non-food sectors. Uncertainty in the market remains high.(Marketscreener CH | Zonebourse.com | Marketscreener.com | Bourse | Boursorama | Marketscreener IT)

France - Starch Producers Adapt After France'S Poor Wheat Crop Impact
Starch producers in France are adapting their production strategies due to a poor wheat crop, significantly impacting supply and pricing in the starch market. Changes in sourcing and production methods are essential for maintaining operational stability and meeting market demands amid these agricultural challenges.(Country Guide | Grainews)

France - Starch Industry Revenue Rises 17% To €3.9 Billion In 2023
The poor quality of France's wheat harvest, the lowest in 40 years due to excessive rain, is forcing starch manufacturers to adapt amid low demand and rising import competition. Starch industry revenue rose 17% to €3.9 billion in 2023, but volumes fell 12% in food and 18% in non-food sectors. Ongoing uncertainty persists with high costs and weak demand.(Marketscreener ES)

Ireland - Irish Feed Wheat Prices Hit €230/T, Soybean Production 419 Mmt
As of September 26, 2024, prices for Irish feed wheat are €230/t and feed barley ranges from €215-220/t. MATIF wheat futures decreased by €9/t to €216 due to easing Black Sea tensions. Maize harvest is 14% complete, ahead of the 5-year average. Global soybean production is projected at a record 419 MMT.(Irish Farmers' Association)

Italy - Cia Calls For Quality Standards In Imported Wheat At G7
Cia Agricoltura president Cristiano Fini emphasized the need for quality standards in imported wheat during the G7 agricultural associations meeting in Siracusa. He stated that while imports are necessary due to a lack of self-sufficiency, they become unfair competition if they do not meet Italian quality and safety standards. Fini also called for improved internal wheat self-supply conditions.(Giornale di Sicilia)

Russia - Rye Production Declines To 1.4 Million Tons In 2024
In Russia, rye and rye flour production is declining, with a 2024 harvest forecast of 1.4 million tons, insufficient for demand. Since 2018, rye yields have fallen below 2 million tons. Prices for rye have surged, exceeding 11,000 rubles per ton in some regions, raising concerns about future rye flour costs. Current rye resources are estimated at 1.93 million tons.(Интерфакс)

Russia - Krasnodar Leads Soft Wheat Production With 7.9 Million Tons
Krasnodar Krai has become the leader in soft wheat production, with 7.9 million tons, representing 79% of the surveyed wheat in the region. Other top regions include Rostov (6.9 million tons, 69%), Stavropol (4.6 million tons, 75%), Volgograd (2.2 million tons, 85%), and Kursk (2 million tons, 81%). Overall, 45 million tons of wheat were assessed across 29 regions in Russia.(Деловая Газета.Юг)

Russia - Russia Aims 50% Grain Export Boost By 2030, 72 Million Tons
Russia is expanding its Baltic Sea ports to boost agricultural exports by 50% by 2030, reducing reliance on Black Sea routes. In the 2023/24 season, it exported 72 million metric tons of grain. New ports Vysotsky and Lugaport will handle 15 million tons annually by 2025, targeting markets in Latin America and Africa.(Investing.com 日本 | xm.com | WTVB | Reuters | Notícias Agrícolas | ProFinance.Ru | Devdiscourse | The Times of India | PortalPortuario)

Spain - Wheat And Barley Prices Rise Up To €2/Tm
National and international cereal markets are experiencing upward trends. Nationally, prices for wheat and barley increased by up to €2/Tm, with a slight mid-week rise. In the US, all products saw price increases, driven by concerns over dry weather affecting crops. In Europe, wheat prices are pressured by low competitiveness in exports despite concerns over dry conditions in Russia.(AgroCLM)

Spain - Soria Farmers Protest: Wheat Prices Plummet From €365 To €226
Over a hundred farmers in Soria protested against low cereal prices, which have fallen from €365 to €226 per ton. Despite a good harvest, production costs are higher than selling prices. Asaja, Coag, and Upa demand government intervention to protect local farmers and address the loss of over 40,000 hectares of cereal cultivation.(Heraldo-Diario de Soria | desdeSoria)

Ukraine - Bread Prices Rise 40% In Ukraine Amid 9.8 Million Tons Export
In Ukraine, bread prices are expected to rise by 40% due to increased raw material costs, with wheat prices surging by 47.4%. The grain export union forecasts a total grain yield of 125.9 million tons for 2024/25, while Ukraine's grain exports have risen by 59% to 9.8 million tons since the start of the marketing year.(MY.UA | Агротренд | Ukrainian News Agency)

Argentina - Tax Burden On Farmers Up 1.6%, State Takes 61.5%
The tax burden on farmers increased by 1.6% in the last quarter, with the state taking 61.5% of agricultural income. The decline in grain prices has significantly reduced gross harvest value. Currently, 44% of soybean cultivation costs are dollarized, while agricultural labor costs surged by 200-250% since September 2023, amid an annual inflation of 236.7%.(Clarín)

Argentina - Grain Markets Eye 130 Million Tons Harvest, 101.5 Million Exports
The quarterly stocks report on September 30 indicates mixed market reactions for corn and soybeans, with Argentina's soybean production expected to rise by 3% and corn to drop by 5.1%. The Buenos Aires Grain Exchange projects a 2024/25 harvest of 130 million tons, driven by wheat's yield of 18.6 million tons, while exports could reach 101.5 million tons.(The Globe and Mail | Puntal | Notícias Agrícolas)

Brazil - Deral Projects 22.4 Million Tons Soybeans, Brazil Drought Halts Shipping
Deral projects soybean production to reach 22.4 million tons for the 2024/2025 harvest, a 21% increase from 18.5 million tons, with 10% of the 5.8 million hectares already planted. Conversely, wheat production is expected to decline by 32% to 2.6 million tons due to adverse weather. Additionally, a drought has halted grain transport on the Madeira river, affecting exports.(Alerta Paraná | Successful Farming)

Canada - Canada Becomes Fifth Largest Wheat Exporter With Scientific Advances
Canada is now the fifth largest wheat exporter globally, thanks to scientific advancements, as stated by Agriculture Deputy Minister Lawrance Hanson at the G7 Agriculture Forum. He emphasized the importance of technology, collaboration, and innovation for sustainable yield increases. Hanson also highlighted the role of cooperatives and the need for youth and female leadership in agriculture.(Agricultura.it)

Mexico - Tamaulipas Offers 270 Million Pesos Support For Farmers
The Tamaulipas government confirmed a support package worth 270 million pesos for sorghum and wheat producers for the 2024-2025 agricultural cycle. Each producer can receive up to 400 liters of diesel, 5 bags of 20 kg sorghum seed, and 800 kg of wheat seed. Interested farmers must submit necessary documentation at designated support centers.(El Mañana de Reynosa)

U.S. - U.S. Export Sales Decrease 36% For Wheat To 158,900 Tons
U.S. export sales decreased for the week ending September 19th, affected by rising barge freight rates, commodity price increases, and a strong dollar. Wheat sales fell 36% to 158,900 tons, while corn exports reached 535,100 tons. Soybean exports were 1,574,700 tons, and rice sales totaled 55,300 tons. Overall, exports showed mixed results across commodities.(brownfieldagnews.com)

United States - Kellanova Launches Regenerative Wheat Program In 2,000 Stores
Kellanova, alongside partners Ahold Delhaize USA, Bartlett, and Arva Intelligence, launched a regenerative agriculture pilot program in North Carolina to reduce Scope 3 greenhouse gas emissions from wheat farming. The initiative will produce Cheez-It® crackers using both regenerative and conventional wheat, available in over 2,000 stores starting in 2025. The program emphasizes collaboration, education, and resilience in the food value chain.(Yahoo Finance)

United States - Soybean Prices Reach $10.64, Wheat Falls To $5.87
Chicago soybean prices reached a peak of $10.64 before declining to $10.50, influenced by drought concerns impacting U.S. yields. Wheat fell to $5.87 due to planting issues in Brazil and Russia, with sowing rates at an 11-year low. Corn increased slightly to $4.16, supported by potential export demand and upcoming U.S. harvest data.(LA NACION | xm.com)

China - China Purchases Over 70 Million Tons Of Summer Grain
Food processors in China have purchased over 70 million metric tons of summer grain, a high level for recent years, due to effective market mechanisms. The State-owned China Grain Reserves Group activated 403 collection points, with procurement prices exceeding 2,500 yuan ($355) per ton. The administration anticipates purchasing around 200 million tons of autumn grain, similar to last year.(China Daily)

China - China Sets 2025 Import Tariff Quotas: Wheat 9.64M Tons
China has established its 2025 import tariff quotas for key commodities: wheat at 9.64 million tons, rice at 5.32 million tons, corn at 7.2 million tons, and cotton at 894,000 tons. These quotas are integral to China's agricultural trade strategy, influencing global market dynamics for these essential crops.(Notícias Agrícolas | Investing.com Brasil)

India - India'S Foodgrain Production Reaches Record 332.22 Million Tonnes
India's foodgrain production hit a record 332.22 million tonnes in the 2023-24 crop year, up 2.61 million tonnes from 329.6 million tonnes in 2022-23. Rice production rose to 137.82 million tonnes, and wheat to 113.29 million tonnes. Pulses and oilseeds fell to 24.24 million tonnes and 39.66 million tonnes, respectively, due to drought.(Guwahati Plus | EquityPandit)

Kazakhstan - Citic Plans Wheat Plant As Karaganda Seeks 1 Million Tons
CITIC Construction plans to establish a wheat processing plant in Kazakhstan to boost local production and meet rising demand. In Karaganda region, officials expect to harvest 1 million tons of grain, with 80% already collected. Farmers face challenges in direct wheat exports due to a lack of knowledge and risk management, leading to unprofitable deals.(Trend News Agency | Новое Телевидение | Голос Народа)

Turkey - Wheat Prices Reach 10,000 Lira Amidst Rotting Thousands
Thousands of tons of wheat have rotted in Besni due to poor agricultural policies, causing significant losses for farmers. Wheat prices have surged to 10,000 lira for bread wheat and 11,000 lira for durum wheat ahead of an import ban decision on October 15, which will impact domestic prices and supply.(Besni Güncel | Norm Haber)

Turkey - Turkey Develops 3 New Wheat Varieties After 14 Years
Turkish scientists have developed three new wheat varieties after 14 years of research in Sivas. Seed production will begin in the 2024-2025 season, with availability for farmers in 2025-2026. The new varieties aim to enhance quality and yield, boosting farmer profits, with more varieties anticipated in the next 2-3 years.(Hurriyet Daily News | МК-Турция)

Algeria - Algeria Aims For Wheat Self-Sufficiency To Cut Imports
Algeria aims to achieve self-sufficiency in wheat production. The initiative reflects the country's efforts to reduce dependence on imports and enhance local agricultural capabilities. Specific targets and timelines for this goal have not been detailed in the provided text.(African Manager)

Egypt - Egypt Wheat Production Projected At 9.2 Million Tons 2024-25
Egypt's wheat production is projected to reach 9.2 million tons in 2024-2025, an increase from 8.87 million tons the previous year, driven by higher yields and planting. Wheat imports are estimated at 12.5 million tons. Wheat flour exports surged by 250% from January to May, particularly to Djibouti, Sudan, and Somalia.(Agrolink | World Grain)

Nigeria - Nigeria Imports Maize, Wheat As Food Inflation Hits 37.52%
The Federal Government of Nigeria is importing staple foods like maize and wheat to address food shortages, as announced by Finance Minister Wale Edun. This temporary measure aims to alleviate immediate shortages without disrupting local production. Currently, inflation stands at 32.15%, with food inflation at 37.52%, amid ongoing economic challenges and rising living costs.(Guardian Nigeria)

Zimbabwe - Zmx Opens 31 Warehouses For Wheat And Grain Trade
The Zimbabwe Mercantile Exchange (ZMX) has opened 31 warehouses to receive wheat and other grains following the government's liberalization of grain trade. Farmers can utilize ZMX's warehouse receipt system for price discovery and financing. ZMX, a private company regulated by the Agricultural Marketing Authority, facilitates deliveries through mobile, USSD, or web portal bookings.(ZwNews.com)

Russia - Russia'S Grain Exports Surge To 1.5 Million Tons
Russia, the world's largest wheat exporter, has significantly increased grain exports through Baltic terminals, reaching nearly 1.5 million tons, up from over 550,000 tons in the previous season. The 2023/24 season saw total grain exports of at least 72 million tons, with 62.4 million tons shipped by sea, a 23.4% increase from 2022/23.(Русская служба The Moscow Times)

Russia - 10.6 Million Hectares Left To Harvest As Production Drops
As of September 23, Russia has harvested 105.9 million tons of grain, with 10.6 million hectares remaining. Agricultural prices may rise by 5-10% due to a forecasted decline in grain production to 124.2 million tons in 2024, and IKAR projects wheat harvest at 81.8 million tons. Wheat quality is high, with 50% at grade 4.(Farmer.pl | Правда.Ру | Русская служба The Moscow Times | Agroprofil | Русская служба The Moscow Times | Агроинвестор)

Russia - Wheat Prices Rise €1.75 To €220.5/T, 8.3M
Wheat prices rose by €1.75 to €220.5/t amid delayed sowing in Russia, where only 8.3 million hectares were planted, the lowest since 2013. Ukraine has also lagged with 900,000 hectares sown. Argentina forecasts wheat production at 18.6 million tons and corn at 47 million tons for 2024-2025, while Algeria seeks 240,000 tons of corn.(Wiadomości Rolnicze | Réussir | Réussir)

Australia - Wheat Supply Threatened As Australia Faces Extreme Weather
Extreme weather in southern and western Australia threatens wheat harvest projections, impacting global supply. Severe frost endangers fields in southern and southeastern Australia, responsible for over 10% of the country's wheat production, while drought concerns persist in the western regions. Australia is a major wheat supplier, including to Indonesia.(Bisnis.com)

World - Wheat Futures Rise To $5.93 Per Bushel Amid Weather Concerns
Wheat futures prices rose to their highest level in 10 days at the Chicago Exchange, reaching $5.93 per bushel (27.2 kg), due to worsening weather conditions in major exporting countries. Dry soils in the Black Sea region hinder wheat sowing, which is down 20% in European Russia. Additionally, wheat production is expected to decline in Australia, the UK, and the EU.(Hespress Français)