Global: Weather conditions are driving grain and soy prices up

Published 2024년 5월 23일

Tridge summary

Recent reports indicate a significant increase in grain and soy prices globally, primarily due to various weather-related issues in key production areas and logistical constraints. Challenges faced by grain growers in countries like Russia, Ukraine, the US, Argentina, and Western Australia are contributing to the market volatility. Heavy flooding in Brazil has severely affected soybean production, further driving up soy prices. As a result, farmers are seeking alternative crops, and the prices for wheat and barley have surged. The article also highlights the impact of weather conditions on sowing and crop quality in various regions and discusses the challenges in obtaining certain raw materials like turnip scrap and palm kernel flakes, which have led to price hikes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Grain and soy prices have risen sharply in recent weeks due to various global challenges. While weather conditions play a crucial role in key production areas, market conditions and logistics constraints also have an influence. Grain growers in Russia, Ukraine, the US, Argentina and Western Australia are dealing with varying weather conditions that affect yields. Meanwhile, heavy rains and flooding in Brazil are causing significant losses in soybean production and pushing up soy prices. These developments lead to volatile prices on the market, which forces farmers to look for alternatives. Read the developments on the raw materials market in this update. Due to the various challenges facing grain growers worldwide, the price for wheat and barley has risen in recent weeks, resulting in high prices. In various places the weather is currently the determining factor for the development of yields. In Russia, farmers have finished sowing spring grain, but the country lost 500,000 ...

Source: Melkveebedrijf