Australia is expected to report record-breaking agricultural exports in the current financial year, the government said on Tuesday, after years of high rainfall boosted yields.
Argentina has confirmed its first case of bird flu in industrial poultry, its agriculture secretary said on Tuesday, causing it to suspend avian product exports and raising fears the disease could spread and hurt exports from the South American nation.
Much lower than last year, the volumes of forward sales of soybeans from Brazil indicate a reduction in global demand due to a decrease in imports by China. In addition, importers are restraining purchases in anticipation of a seasonal drop in soybean prices from South America, and producers have limited sales in the hope of rising prices, although they remain at a fairly high level.
The FAO Food Price Index (FFPI) averaged 131.2 points in January 2023, down 1.1 points (0.8 percent) from December, marking the 10th consecutive monthly decline. With this latest decline, the index has fallen 28.6 points (17.9 percent) from the peak it reached in March 2022. The drop in the index in January was driven by declines in the price indices of vegetable oils, dairy and sugar, while those of cereals and meat remained largely stable.
World wheat prices rose after Germany and other countries announced their intention to supply main battle tanks to Ukraine on January 25.
Agrarheute writes about this with reference to data from the British Agricultural and Horticultural Development Board (AHDB).
Romania and five other EU states want compensation for the damage they suffered due to the fact that cheap wheat from Ukraine, left on European territory, is affecting their own sales. They ask the European Commission for a quick solution and the export of Ukrainian wheat to its final destination, namely Africa.
Any German government plans to stop crop-based biofuel production would severely hit farmers and cut rapeseed output, Thomas Mielke, CEO of Hamburg-based oilseeds analysts Oil World said on Wednesday.
Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned.
"We intend to overcome the barriers to our exchanges, simplify and modernize the rules and encourage the use of local currencies," says the text published on the Argentine website Perfil.
Chicago soybean futures lost ground on Tuesday, with prices dropping for the first time in four sessions, as expectations of an all-time high Brazilian crop and concerns over economic growth in top consumer China weighed on the market.
Wheat fell, while corn slid from a two-week high.
FAO Food Price Index ends 2022 lower than a year earlier.
The index of world food prices dipped for the ninth consecutive month in December 2022, declining by 1.9 percent from the previous month, the Food and Agriculture Organization of the United Nations (FAO) reported today.