French wheat ratings are low; Brazil's corn stocks are high

Published Feb 19, 2024

Tridge summary

French soft wheat crops are experiencing their worst conditions in four years due to heavy rainfall disrupting sowing, with only 68% of crops rated as good or excellent, marking the lowest rating since 2020. In contrast, Brazil's largest farm cooperative, Coamo, has seen a significant increase in grain stocks, over 50% higher than the previous year, due to a bumper crop and slow farmer selling. Additionally, several countries including Jordan, South Korea, Japan, and Bangladesh have issued international tenders for wheat, rice, and barley.
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Original content

FRENCH WHEAT RATING: The state of French soft wheat crops remained at their worst in four years last week after a rain-disrupted sowing campaign, data from farm office FranceAgriMer showed on Friday. Some 68% of French soft wheat was rated as being in good or excellent condition by Feb. 12, unchanged from a week earlier but the lowest for the time of year since 2020, when crops were also affected by heavy rain, FranceAgriMer said in a cereal report. BRAZIL CORN INVENTORIES: Brazil’s largest farm cooperative entered 2024 with grain stocks over 50% higher than in 2023 driven by a bumper crop last season and sluggish farmer selling, Coamo’s President Airton Galinari said. The situation reinforces that supply pressure could continue to weigh on grain prices and dampen farmer sentiment in Brazil, the world’s biggest soybean exporter and producer and a major corn exporter. PENDING TENDERS: WHEAT TENDER: Jordan’s state grain buyer issued an international tender to buy up to 120,000 ...
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