The crop has a higher risk of winterkill because of plants' already weakened condition and may have trouble recovering
SASKATOON — Winter wheat crops have deteriorated in Russia but are improving in the United States and the European Union. An estimated 37.2 per cent of Russia’s crop is rated in poor condition versus four per cent last year and the five-year average of 7.3 per cent. Related stories: It is the worst rating in […] Read moreTag Archives wheat market
Southern Hemisphere pressures wheat market
Increased wheat production in Argentina and Australia is expected to make 9.15 million more tonnes available for export
The wheat market continues to struggle, despite some positive news from the Black Sea region. Russia has announced a large drop in its wheat export potential by reducing the February through June export limit to 11 million tonnes. This is down 18 million tonnes from last year during the same period. The Russian government also […] Read more
Russian farmers ditch wheat for other crops
MOSCOW/IRTYSH (Reuters) – Russian farmers say they will sow less wheat after heavy losses this year, switching to more profitable crops such as peas, lentils, or sunflowers. Such decisions will have direct implications for global wheat prices and inflation in major buyers like Egypt as Russia is the world’s top exporter of the grain. The […] Read more
Wheat markets continue to ignore poor global outlook
Crops are in trouble around the world, including in the United States, Russia, Europe, Australia and Argentina
Wheat markets have sold off during the past two weeks, and one would think that crop prospects have dramatically improved since last month. Have the Southern Hemisphere harvest prospects dramatically improved? Maybe the 2025 winter wheat planting conditions in the Northern Hemisphere have turned around the situation at the last minute. Neither situation has occurred, […] Read more
Egyptian purchase helps wheat rally
Major deal partly explains futures price hike despite Ag Canada adding 2.8 million tonnes to the country's wheat supply
SASKATOON — Egypt has set the tone for the 2024-25 wheat market. The world’s largest importer has struck a deal to buy 3.12 million tonnes of Black Sea wheat from November to April, according to Reuters. Related stories: Egypt’s General Authority for Supply Commodities (GASC) will be importing 510,000 tonnes per month from the region […] Read more
Wheat output to increase
CHICAGO, Ill. (Reuters) — Canadian wheat production will increase more than four per cent this year, Statistics Canada said last week, less than analysts had expected at a time when global supplies are expected to reach a nine-year low. Total output is projected to reach about 34.4 million tonnes, compared with 32.9 million in 2023, […] Read more
Falling wheat prices encourage Asian customers to buy
Bangladesh among region’s top importers as a steep drop in prices in recent weeks spurs importers to book shipments
SINGAPORE (Reuters) — Asian wheat buyers have stepped up purchases in recent weeks, taking cargoes from the Black Sea region as they returned to the market after a long gap, drawn by a fall in global prices. Regional millers producing flour and animal feed have signed deals to buy close to one million tonnes of […] Read more
Market assesses impact of Russia’s smaller wheat crop
The weather has not co-operated for Russia’s wheat growers and the country might produce the smallest crop since 2021. Killer frosts, drought and excess moisture in various regions of Russia have trimmed yield prospects. The winter wheat crop in dry southern regions near the Black Sea are in the filling stage while spring wheat seeding […] Read more
‘Weather market’ resumes role as price driver
The market is closely watching production problems around the world, including Russia, Europe, Argentina and the U.S.
GENEVA, Switzerland (Reuters) — Weather hiccups in major cereal producers have cast a doubt on prospects of a global grain glut and made fundamentals regain their status of key market drivers after being surpassed by politics, notably the war in Ukraine, analysts say. Wheat prices in Chicago gained 33 per cent in the past two […] Read more
Wheat price outlook hinges on Russia
The market has already begun to respond as dry conditions and now frost significantly threaten production this year
SASKATOON — The 2024-25 wheat market outlook hinges on one key question. “The bottom line is, it comes back to Russia. Are they going to be able to have a big enough crop again this year to dominate world exports and hold prices down, or not?” DTN lead analyst Todd Hultman said during a recent […] Read more
