Global record corn and soybean harvests

Published 2024년 8월 21일

Tridge summary

The International Grains Council forecasts a global grain yield increase, with global wheat production expected to reach the second largest on record. However, European wheat yields are variable due to excessive rainfall, leading to lower than average harvests in France and Germany. Despite this, favorable growing conditions in Central Asia, North America, and Pakistan have resulted in increased yield forecasts. In contrast, lower yields are expected in Canada, Europe, Ukraine, Russia, Serbia, and Moldova due to changing conditions such as drought. The global trade in maize is predicted to decrease due to lower demand in Mexico, China, and the EU. Overall, record harvests for corn and soy are expected, which could impact market prices.

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. Low point for total EU grain production 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 tonnes 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 ...

Source: NLvarkens