![]() The Reuters article added that, “ Higher wheat usage will also push down consumption of soymeal, according to feed makers. Secretary’s Briefing- Interagency Commodity Estimates Committee Forecasts. ![]() “Chinese corn futures have plunged 11% in the same period, said Yuan, the analyst, pressured by mounting stocks of grain.” World Agricultural Supply and Demand Estimates Report of May 12, 2023. “Total wheat imports of 6 million tonnes in the first four months – up 61% on a year ago – and the looming domestic harvest have pushed Chinese prices down 15% in the last two months, making the grain a cheaper option than corn in many areas. Patton and Thukral explained that, “China, the world’s top wheat producer, started harvesting what is expected to be a bumper crop this month, but it has also bought record volumes of wheat from overseas, particularly Australia. USDA- Foreign Agricultural Service (April 2023). corn orders in recent weeks as buyers await cheaper options later in the year.” Grain: World Markets and Trade. Meanwhile, China has cancelled more than 800,000 tonnes of U.S. “ Brazil has produced a record soybean crop this year but shipments to China are currently behind last year’s rate. Reuters writers Dominique Patton and Naveen Thukral reported today that, “ A surplus of cheap wheat in China is replacing significant volumes of corn in its huge animal feed market, say feed makers and analysts, curbing consumption of both corn and soymeal and potentially reducing demand for imports.Ĭhina’s shift from corn to wheat comes at a bad time for Brazil and the United States, the top soy and corn suppliers to the world’s largest buyer of both crops. Illinois Farmland Leasing & Rental Forms. ![]() Illinois Crop Budgets & Historic Returns.Farmland Leasing Facts Sheets & Pricing Information.Illinois Soil Productivity & Yield Utilities.Biomass Crop Budget Tool – Miscanthus & Switchgrass.Appraisal of Current Financial Position.Balance Sheet & Historical Financial Statements. ![]() Post Application Coverage Endorsement Tool (Sheet). ![]()
0 Comments
Leave a Reply. |