CAIRO (Reuters) — Egypt has launched a massive tender to import 3.8 million tonnes of wheat, its largest ever tender, according to traders, as the country seeks to take advantage of a slump in global wheat prices to four-year lows. If Egypt is able to buy wheat at knock-down prices, the lower import bill could […] Read more
Tag Archives Wheat
Weather, war lift wheat price, but can rally be sustained?
Wheat futures enjoyed a bump higher last week, a sign that the market is keeping an eye on Northern Hemisphere weather issues. Wheat values are still the lowest since the spring of 2021, but perhaps the steady price slide is coming to an end. Market reports suggested the drivers of the rally were the Russian […] Read more
Wheat rally likely not in the cards
SASKATOON — Bruce Burnett doesn’t see anything in the 2024-25 wheat market that screams rally. The International Grains Council is forecasting 392 million tonnes of production by the major exporters, an eight million tonne increase over 2023-24 levels. Related stories: The United States and Australia will be responsible for most of the increase, said the […] Read more
Trader thinks grain markets could stabilize next month
Managed money has been 'massively short' in the grain market, but there are signs that may be gradually changing
SASKATOON — The bear run in grain markets could be coming to a merciful end, says an analyst. “The month of March should be a catalyst that should at least start to stabilize things, I would think,” said a canola trader who preferred to remain anonymous. Related stories: Market’s comfort with grain stocks pushes down […] Read more
Russian wheat estimates can be tough to make
A limited U.S. diplomatic presence in Russia following that country's invasion of Ukraine can make forecasting difficult
SASKATOON — The U.S. Department of Agriculture says strained diplomatic relations with Russia are hampering its ability to properly forecast the country’s wheat production. The USDA’s Foreign Agricultural Service (FAS) has been way off the mark the past couple of years with its early estimates for the Black Sea country. It initially pegged the 2023-24 […] Read more
Global markets watch Argentina’s export taxes
SASKATOON — Michael Cordonnier did a double take after reading that Argentina’s export taxes are heading higher. After all, newly elected president Javier Milei had campaigned on a platform that included slashing those very same taxes. “He’s doing exactly the opposite of what he promised 10 minutes ago,” said the publisher of the Soybean and […] Read more
China wants good wheat
CHICAGO (Reuters) — China booked its largest purchase of United States wheat since at least 2020, buying 440,000 tonnes of the grain, the U.S. Department of Agriculture has confirmed. The sale comes after China’s 2023 wheat crop suffered quality issues after heavy rain hit key growing areas just ahead of the harvest, analysts said. The […] Read more
World-wheat stocks to fall
SASKATOON — A lot of ink has been spilled about wheat production this year but not much has been written about the other side of the ledger. Global wheat consumption is forecast at 804 million tonnes in 2023-24, an increase of nine million tonnes over last year. Meanwhile, production is estimated to have fallen to […] Read more
!["The rapid emergence of Brazil as a [wheat] exporter in Indonesia and other foreign markets has been remarkable," the U.S. Department of Agriculture stated in its recent Grain: World Markets and Trade report. | File photo](https://static.producer.com/wp-content/uploads/2023/11/23111515/wheat-MR_DSC3036-660x420.jpg)
Brazil muscles its way into global wheat market
SASKATOON — Canadian wheat exporters are facing a new competitor in their second biggest market. “The rapid emergence of Brazil as an exporter in Indonesia and other foreign markets has been remarkable,” the U.S. Department of Agriculture said in its recent Grain: World Markets and Trade report. Indonesia bought 2.14 million tonnes of bulk wheat […] Read more
Wheat in the fast lane
Canada’s canola industry reached a milestone in the fall of 2005. From 1990 until 2004, canola yields across the Prairies were stuck in a range of 23 to 27 bushels per acre. Some producers were recording yields much higher than 25 bu. per acre, but the average yield in Canada was stagnant. Finally, in 2005, […] Read more
