Tridge summary
The international agricultural market is facing significant changes due to various factors including price fluctuations in oil, gold, and the stock market, as well as global unrest and weather conditions. The International Grains Council (IGC) has forecasted record harvests for corn and soy, with global wheat production expected to increase by over 800 million tons, marking the second largest production ever. However, this is not uniform across all regions, with varying yields in Europe, Russia, Kazakhstan, and Canada. The USDA is less optimistic about the US wheat harvest. Pakistan has imposed an import ban on wheat due to a expected record harvest, while corn production is expected to surpass the previous record. However, global corn trade is expected to decline due to reduced demand in Mexico, China, and the EU. The IGC also anticipates increased production of barley and oats due to improved yields and growth in cultivation areas.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
There are many factors that influence the prices of raw materials for animal feed. The oil price, the gold price, the stock market, unrest in the world. But supply and demand remain important. The latter is a matter of area and cultivation success. What are the global yield forecasts halfway through this year? What consequences does this have for the market? We take a look at the most recent reports from authorities in the field of agricultural market information. Record harvests for corn and soy are expected. At the end of July, the International Grains Council (IGC) gave an update on the expected global grain yield for 2024. It stated that global wheat production will increase by more than 800 million tons this year. This may be the second largest production ever. However, this is not due to the European wheat yields. These are very variable this year. Due to excessive rainfall, French and German wheat harvests are well below average. In France, the lowest wheat yield of the ...
Source: Melkveebedrijf
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