11 min read

Wheat News - 30 Sep 2024

Wheat News - 30 Sep 2024
Americas

Argentina - Wheat Crop Condition Deteriorates 32% Over 1.3 Million Hectares
Argentina - Argentina Wheat Processing Reaches 566,945 Tons In August
Bolivia - Emapa Sells 1.5 Million Flour Bags To Stabilize Prices
Brazil - Brics Grain Exchange May Boost Russian Wheat Exports To Brazil
Brazil - Paraná Wheat Losses Reach R$ 3 Billion With 32% Drop
Brazil - Brazil'S Wheat Harvest Up 8.8% To 8.8 Million Tons
Canada - Tentative Deal Ends Metro Vancouver Grain Strike Involving 600 Workers
USA - U.S. Corn, Soybean, And Wheat Stocks Hit Four-Year Highs
USA - Wheat Down 0.6% To $5.76, Corn Drops 0.4% To $4.16
USA - Usda Projects 2024 Wheat Production At 1.971 Billion Bushels
USA - Us Corn 1.76B, Soybeans 342M, Wheat 1.986B
USA - Wheat Futures Fall 0.73% To 580.00 Cents, Farm Income Down

Europe

EU - Corn Hits Two-Month Highs, Wheat Up 5 Euros
France - French Processors Adapt To Poor Quality Wheat Challenges
Germany - Diverse Wheat Parents Boost Crop Performance By 2,000 Hybrids
Russia - Russian Wheat Exports Forecasted At 4.4-4.8 Million Tons
Russia - Drought Reduces Russia'S Wheat Harvest Forecast To 81.8 Million Tons
Spain - Cereal Prices Rise: Soft Wheat €225.20, Corn €228.38
Switzerland - Swiss Government Releases 15,000 Tons Wheat Quota Early
Ukraine - Global Food Supply At Risk If Ukraine Fails To Harvest
Ukraine - Ukraine Grain Exports Exceed 2.8 Million Tons In September

Ukraine - Ukraine'S Grain Harvest Decreased 2% To 40 Million Tons

Asia

India - Wheat Prices To Decline As Production Hits 785 Million Tons
Japan - Japan'S Wheat Production Drops 5.8% To 1.08 Million Tonnes
Kazakhstan - Kazakhstan Launches Project To Consolidate 3 Grain Exports
Kazakhstan - Kostanay Farmers Risk Losing Afghan Flour Market Amid Price Hikes
Kazakhstan - Kazakhstan Completes 75% Harvest, 3.376 Million Tons Delivered
Kyrgyzstan - Kyrgyzstan'S Record Harvest: 674,000 Tons Of Wheat Collected

World

World - New Wheat Varieties Achieve 16% Higher Yields Amid Global Warming
World - Wheat Market To Grow From $748.54M In 2024 To $904.93M
World - Extreme Weather Drives Bloomberg Agriculture Index Up 7%

Africa

Egypt - Egypt Secures 5.6-Month Wheat Reserve, 15.2-Month Sugar Reserve
Tunisia - Tunisia Aims For Durum Wheat Self-Sufficiency By 2023

Americas

Argentina - Wheat Crop Condition Deteriorates 32% Over 1.3 Million Hectares
Wheat crop conditions are deteriorating due to drought, with 68% rated good to very good across nearly 1.3 million hectares. However, 130,000 hectares are in poor condition, and a rainfall deficit of 80-140 mm is required for yield improvement. Only 49% of the planned maize area has been sown, indicating severe agricultural challenges.(AgroLink | Diario Núcleo)

Argentina - Argentina Wheat Processing Reaches 566,945 Tons In August
In August, Argentina processed 566,945 tons of wheat, the highest since 2012, and 10.8% above the 10-year average. Total processing reached 4.62 million tons this campaign. However, only 3 million tons of new crop wheat have been pre-sold, the second lowest in seven years, with the export sector's participation at 27%.(ON24 | Clarín)

Bolivia - Emapa Sells 1.5 Million Flour Bags To Stabilize Prices
Emapa has sold 1,524,235 bags of 50 kg flour to stabilize bread prices at 50 cents in La Paz, Cochabamba, and Beni. They plan to distribute 2.4 million bags this year and will acquire 60,000 tons of wheat for a new mill. Additionally, 62,786 tons of maize have been distributed to maintain fair meat prices. Strategic reserves include 290,000 quintals of maize.(Ahora El Pueblo)

Brazil - Brics Grain Exchange May Boost Russian Wheat Exports To Brazil
The launch of the BRICS Grain Exchange may simplify and enhance Russian wheat exports to Brazil, which imports 4.5-6.5 million tons annually. In recent seasons, Russian exports fluctuated from 28,000 tons to a record 785,000 tons in 2023/24. Brazil's new import quota of 250,000 tons at zero tariff, effective until December 2024, may increase demand.(DairyNews)

Brazil - Paraná Wheat Losses Reach R$ 3 Billion With 32% Drop
Paraná wheat producers face significant losses estimated at R$ 3 billion, with a 32% reduction in the 2023/24 harvest forecast, dropping from 3.8 million tons to 2.58 million tons due to severe drought and frost. The Department of Rural Economy reports a 1.2 million ton loss, affecting barley and oats as well. Harvesting is 50% complete.(MSN | Compre Rural | Sultra1News | Canal Rural)

Brazil - Brazil'S Wheat Harvest Up 8.8% To 8.8 Million Tons
Brazil's 2023/2024 wheat harvest is projected at 8.8 million tons, an 8.8% increase from last year, but domestic consumption needs exceed this. Stocks have dropped from 1.9 million to 658,000 tons due to a "fiscal war" and external competition. Favorable agroclimatic conditions exist for winter crops, despite some drought effects in Paraná.(AgFeed | Revista Cultivar | Notícias Agrícolas)

Canada - Tentative Deal Ends Metro Vancouver Grain Strike Involving 600 Workers
A tentative labor deal has been reached between striking grain terminal workers in Metro Vancouver and their employers, ending a strike that affected grain shipments. The union will conduct a ratification vote by October 4. About 600 workers had been on strike, with the dispute potentially causing $35 million per day in lost exports during harvest.(StrathmoreNow.com)

Estados Unidos - U.S. Corn, Soybean, And Wheat Stocks Hit Four-Year Highs
U.S. corn, soybean, and wheat stocks have reached four-year highs, according to the USDA. This increase in inventory levels suggests a significant change in market dynamics for these key commodities. The report highlights the implications for pricing and supply chain considerations moving forward.(Investing.com Brasil)

USA - Wheat Down 0.6% To $5.76, Corn Drops 0.4% To $4.16
Chicago wheat, soybean, and corn futures declined as traders awaited USDA reports predicting the largest September stocks since 2020. Wheat fell 0.6% to $5.76-1/2, corn dropped 0.4% to $4.16-1/4, and soybeans decreased 1.2% to $10.53. Dry weather in Ukraine and Brazil raises supply concerns, while the EU cut wheat output forecasts to a 12-year low of 114.6 million tons.(Business Recorder)

USA - Usda Projects 2024 Wheat Production At 1.971 Billion Bushels
The USDA projects a 2024 wheat production of 1.971 billion bushels, up 9% from 2023, with an average yield of 51.2 bushels per acre. Winter wheat is estimated at 1.349 billion bushels, while spring wheat is at 542.32 million bushels. The next supply and demand estimates will be released on October 11th.(brownfieldagnews.com)

USA - Us Corn 1.76B, Soybeans 342M, Wheat 1.986B
U.S. grain and soybean stockpiles hit four-year highs as of Sept. 1, with corn at 1.76 billion bushels and soybeans at 342 million, both up 29% year-on-year. Wheat stocks rose 12% to 1.986 billion bushels. The USDA revised 2023 corn production to 15.341 billion bushels and soybeans to 4.162 billion bushels.(XM | Notícias Agrícolas | Mint | brownfieldagnews.com)

USA - Wheat Futures Fall 0.73% To 580.00 Cents, Farm Income Down
Wheat futures declined by 0.73% to 580.00 cents/bushel, influenced by increased stock predictions despite lower production forecasts. U.S. corn exports rose to 1.1 million tons. Farm income is projected to fall 35% due to rising fertilizer costs and declining crop prices, with crop prices down 20% to 40% from 2022 highs, amid delays in passing the farm bill.(İstanbul Ticaret Gazetesi | Successful Farming)

Europe

EU - Corn Hits Two-Month Highs, Wheat Up 5 Euros
European rapeseed prices rose nearly 7 euros (1.5%) to below 470 eur/t. Wheat prices increased by 5 euros (2.3%) to 221 eur/t, while U.S. wheat rose by 2% to 164.6 usd/t. Corn reached two-month highs, with EU corn up 5.5 euros (2.7%) to 207.25 eur/t, amid poor production prospects in Eastern Europe.(Agronews)

France - French Processors Adapt To Poor Quality Wheat Challenges
French processors are compelled to adapt to the poor quality of collected wheat, impacting their operations and strategies. The situation highlights challenges in sourcing and processing, requiring adjustments to maintain productivity and quality standards in the agricultural sector.(АПК-Информ On-Line)

Germany - Diverse Wheat Parents Boost Crop Performance By 2,000 Hybrids
Research from Gatersleben indicates that hybrids from genetically diverse wheat parents yield better results. Dr. Jochen Reif explains that higher genetic variation leads to increased crop performance and stability under climate stress. The team studied over 2,000 wheat hybrids, finding that maintaining genetic separation or mixing materials can enhance diversity, ultimately benefiting plant breeding and resilience during droughts.(MDR)

Russia - Russian Wheat Exports Forecasted At 4.4-4.8 Million Tons
Rusagrotrans projects Russian wheat exports in October 2024 at 4.4-4.8 million tons, a decrease from 5.1 million tons in 2023, due to lower sales and stagnant international prices. September's estimate was revised from 5.47 to 5.35 million tons. Russian wheat is priced at $215-217 per ton, while prices for French, American, and German wheat have increased.(Интерфакс | MoneyTimes)

Rússia - Drought Reduces Russia'S Wheat Harvest Forecast To 81.8 Million Tons
Severe drought in Russia is threatening the winter grain sowing, impacting the 2025 harvest, according to analysts. Wheat planting rates have fallen to an 11-year low. The expected wheat harvest is revised down from 82.2 million tons to 81.8 million tons, while total grain production is adjusted from 125 million tons to 124.5 million tons.(Notícias Agrícolas)

Spain - Cereal Prices Rise: Soft Wheat €225.20, Corn €228.38
Cereal prices in Spanish markets have risen recently, with soft wheat at €225.20/ton (+0.53%) and corn at €228.38/ton (+0.56%). Barley is at €208.24/ton (+0.67%), while durum wheat is at €278.75/ton (-0.36%). Despite these increases, prices are still lower than in January, with soft wheat down 6.99%.(AgroCLM | infobae)

Switzerland - Swiss Government Releases 15,000 Tons Wheat Quota Early
The Swiss government is releasing 15,000 tons of wheat, rye, and spelt quota early due to a poor harvest, which is down by one-third compared to last year. Domestic production is estimated between 71,000 to 75,000 tons, and an additional request for 20,000 tons is under consideration. The quota will be available from October 4.(Blick.ch | schweizerbauer.ch)

Ukraine - Global Food Supply At Risk If Ukraine Fails To Harvest
Experts warn that if Ukraine fails to harvest this year, global food supplies could be severely impacted, leading to increased prices and potential shortages. Ukraine is a key grain producer, and disruptions could exacerbate existing food insecurity in various regions. The situation remains critical as the world relies heavily on Ukrainian agricultural output.(5 канал)

Ukraine - Ukraine Grain Exports Exceed 2.8 Million Tons In September
In September, Ukraine exported over 2.8 million tons of grain. Since July 1, nearly 6 million tons of wheat have been exported, despite a 20-year low starting stock and a slight decline in the 2024 harvest. The USDA estimates a potential export of 15 million tons for the 2024/25 campaign, down 3.6 million tons from last year.(АПК-Информ On-Line | Terre-net)

Ukraine - Ukraine'S Grain Harvest Decreased 2% To 40 Million Tons
In 2024, Ukraine's grain harvest decreased by 2% to about 40 million tons, with late crops like soybeans, buckwheat, corn, and sunflowers down 10-15%. Corn production is estimated at 25 million tons, sunflowers at 12 million tons, and soybeans at 5 million tons. Wheat harvest stands at 22 million tons, surpassing domestic consumption of 6 million tons.(Финансы bigmir)net | Экономическая правда)

Asia

India - Wheat Prices To Decline As Production Hits 785 Million Tons
Wheat prices are anticipated to decline due to the government's sale scheme, potentially harming farmers' income. Globally, wheat production reached 785 million tons in 2023–2024, with India contributing 105 million tons, representing 12.5% of world production over 20 years. Global consumption approached 791 million tons in 2022–2023.(Khet Khajana | Krishi Jagran)

Japan - Japan'S Wheat Production Drops 5.8% To 1.08 Million Tonnes
Unfavorable weather has reduced Japan's wheat production to an estimated 1.08 million tonnes for 2024-25, down 5.8% from the previous year. In contrast, rice production is projected at 7.35 million tonnes, up from 7.29 million tonnes. Corn imports are expected to rise to 15.7 million tonnes, reflecting increased feed demand.(World Grain)

Kazakhstan - Kazakhstan Launches Project To Consolidate 3 Grain Exports
The article reports that the grain corporation of Kazakhstan has launched a project to consolidate export batches of barley, wheat, and lentils. This initiative aims to enhance the efficiency of grain exports from the country.(АПК-Информ On-Line)

Kazakhstan - Kostanay Farmers Risk Losing Afghan Flour Market Amid Price Hikes
Kazakhstan's Kostanay farmers face losing the Afghan market for flour due to rising grain prices and quality issues with shipments. In 2023, agricultural exports dropped to $715 million, 11% less than 2022. Afghan partners report delays and increased costs, while Uzbekistan offers cheaper flour. Farmers are urged to improve conditions to retain this strategic market.(Exclusive.kz)

Kazakhstan - Kazakhstan Completes 75% Harvest, 3.376 Million Tons Delivered
As of September 27, Kazakhstan has harvested 75% of its total fields, covering nearly 13 million hectares. A total of 3.376 million tons of grain has been delivered to elevators, including 2.476 million tons of wheat. The grain harvest is expected to conclude by the end of October, with wheat price announcements scheduled for next week.(Datification | Новости Казахстана - El.kz | ElDala.kz | Новости Казахстана и мира — Kapital.kz | inbusiness.kz | Kursiv Media)

Kyrgyzstan - Kyrgyzstan'S Record Harvest: 674,000 Tons Of Wheat Collected
In Kyrgyzstan, the harvest of grains, vegetables, and melons has significantly increased compared to last year. Grain was harvested from 535,000 hectares, an increase of 112,600 hectares. Wheat production reached 674,000 tons, up 234,400 tons from 2023. Total vegetable yield was 864,000 tons, and sugar beet yield was 101,000 tons, both showing substantial growth.(Economist.kg)

World


World - New Wheat Varieties Achieve 16% Higher Yields Amid Global Warming
New wheat cultivars under research can achieve 16% higher yields than existing varieties under current climate conditions, according to a study published in Nature Plants. However, global warming will increase overall nitrogen requirements to reach full yield potential, despite these new cultivars utilizing nitrogen more efficiently, thus reducing ecological impact and contributing to food security.(Farms.com)

World - Wheat Market To Grow From $748.54M In 2024 To $904.93M
The wheat market is projected to grow from USD 748.54 million in 2024 to USD 904.93 million by 2032, with a CAGR of 2.4%. The report includes detailed analyses of key players, market dynamics, and regional trends across North America, Europe, Asia-Pacific, South America, and the Middle East. It also addresses market drivers, challenges, and strategic insights.(Cityjournal - Dein Regionalmagazin)

World - Extreme Weather Drives Bloomberg Agriculture Index Up 7%
Extreme weather events, including droughts and floods, are driving the Bloomberg Agriculture Spot Index up by 7%, the highest since early 2022. Concerns over reduced global crop yields are impacting wheat, coffee, and soybean prices. Wheat futures rise due to low global stockpiles, while coffee reaches a 13-year high and palm oil hits a five-month peak.(BNN Bloomberg | Украинские Национальные Новости | Agronegocios | Рубрика | Правда.Ру)

Africa

Egypt - Egypt Secures 5.6-Month Wheat Reserve, 15.2-Month Sugar Reserve
Egypt has secured a strategic reserve of subsidized wheat sufficient for 5.6 months of local consumption, as announced by Minister Sherif Farouk. Additionally, sugar reserves last for 15.2 months, cooking oil for 7.1 months, frozen poultry for 9.9 months, and fresh meat for 7.6 months, ensuring availability of essential commodities.(ZAWYA)

Tunisia - Tunisia Aims For Durum Wheat Self-Sufficiency By 2023
Tunisia aims to achieve self-sufficiency in durum wheat. The initiative emphasizes enhancing local production to reduce dependency on imports, addressing food security challenges, and supporting the agricultural sector. The government plans to implement strategies and investments to boost yields and improve cultivation practices.(African Manager)