WATCH WHEAT: Important article but most noteworthy part is that we are already selling out NEXT YEAR'S WHEAT to China: "Idaho grower Cordell Kress says he...has even pre-sold some of his 2022 crop."
And note that it's because of the #soybeans shortage. Global grain shortage.
#Wheat (click hashtag to see more context)
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U.S. white wheat growers cash in as China snaps up supplies
CHICAGO/BEIJING (Reuters) - China is scooping up supplies of U.S. white wheat to feed livestock, pushing export forecasts for the grain usually used to make sponge cakes and noodles to a 27-year-high.
The purchases are the latest disruption in commodities markets caused by Chinese buying of grains and oilseeds during the coronavirus pandemic, pushing prices of major commodity crops to multi-year highs.
China has booked more U.S. white wheat this year than any country besides the Philippines, the top buyer of the grain. While U.S. producers have long tried to woo the growing Chinese market for confectionary foods made from white wheat flour, the recent purchases reflect a need for animal feed, Chinese traders and analysts said.
On Tuesday, the U.S. Agriculture Department (USDA) raised its forecast for exports of U.S. white wheat to 245 million bushels, the most since 1994, due to strong demand from China and South Korea.
In a sign of the varied pace of global economic recoveries, USDA lowered its export forecast for the most common U.S. wheat class, hard red winter wheat, citing lower demand to “several Western Hemisphere markets.”
While white wheat is not typically fed to animals, high corn prices - benchmark U.S. futures hit 7-1/2-year highs last month - made it a viable alternative in China.
China is scouring the globe for feed grains as it rebuilds the world’s largest hog herd, which was ravaged by African swine fever.
“Most of the imported wheat is going to the feed sector as corn prices are high and there is profit (to import),” said Li Hongchao, a senior grains analyst with trade website Myagric.com.
China signed a trade deal with the United States in January 2020. More recent trade tensions between China and Australia, which grows a slightly different hard white wheat, have also sent China seeking alternative wheat supplies.
Nine months into the 2020/21 wheat marketing year begun June 1, 2020, China’s purchases of all U.S. wheat classes are at a seven-year high of 2.9 million tonnes, according to USDA’s weekly export sales data. White wheat bookings represent about a third of the total, at 947,863 tonnes as of March 4.
https://www.reuters.com/article/idUSKBN2B40IG?il=0
And note that it's because of the #soybeans shortage. Global grain shortage.
#Wheat (click hashtag to see more context)
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U.S. white wheat growers cash in as China snaps up supplies
CHICAGO/BEIJING (Reuters) - China is scooping up supplies of U.S. white wheat to feed livestock, pushing export forecasts for the grain usually used to make sponge cakes and noodles to a 27-year-high.
The purchases are the latest disruption in commodities markets caused by Chinese buying of grains and oilseeds during the coronavirus pandemic, pushing prices of major commodity crops to multi-year highs.
China has booked more U.S. white wheat this year than any country besides the Philippines, the top buyer of the grain. While U.S. producers have long tried to woo the growing Chinese market for confectionary foods made from white wheat flour, the recent purchases reflect a need for animal feed, Chinese traders and analysts said.
On Tuesday, the U.S. Agriculture Department (USDA) raised its forecast for exports of U.S. white wheat to 245 million bushels, the most since 1994, due to strong demand from China and South Korea.
In a sign of the varied pace of global economic recoveries, USDA lowered its export forecast for the most common U.S. wheat class, hard red winter wheat, citing lower demand to “several Western Hemisphere markets.”
While white wheat is not typically fed to animals, high corn prices - benchmark U.S. futures hit 7-1/2-year highs last month - made it a viable alternative in China.
China is scouring the globe for feed grains as it rebuilds the world’s largest hog herd, which was ravaged by African swine fever.
“Most of the imported wheat is going to the feed sector as corn prices are high and there is profit (to import),” said Li Hongchao, a senior grains analyst with trade website Myagric.com.
China signed a trade deal with the United States in January 2020. More recent trade tensions between China and Australia, which grows a slightly different hard white wheat, have also sent China seeking alternative wheat supplies.
Nine months into the 2020/21 wheat marketing year begun June 1, 2020, China’s purchases of all U.S. wheat classes are at a seven-year high of 2.9 million tonnes, according to USDA’s weekly export sales data. White wheat bookings represent about a third of the total, at 947,863 tonnes as of March 4.
https://www.reuters.com/article/idUSKBN2B40IG?il=0
U.S.
U.S. white wheat growers cash in as China snaps up supplies
China is scooping up supplies of U.S. white wheat to feed livestock, pushing export forecasts for the grain usually used to make sponge cakes and noodles to a 27-year-high.
Brazil declares state of emergency after soy crop inundated by rains
SAO PAULO, March 15 (Reuters) - Brazil’s major farm town Sorriso declared “a state of emergency” last week after heavy rains during the summer grain harvest caused crop losses and damaged local infrastructure, a local government representative told Reuters on Monday.
The downpours damaged part of the town’s grain crop and disrupted local roads, making it difficult to move produce and restricting the circulation of people in the area.
Wet weather has also delayed planting of Brazil’s second corn crop, which is sown after the soy is harvested in the same areas. Brazil’s farmers have sown 74% of the estimated second corn crop area in Brazil’s Center-South region, less than the 89% in the last season, the consultancy said.
In most parts of Brazil, the ideal climate window for planting the second corn crop has closed, according to AgRural.
#brazil #soybeans #corn
https://www.reuters.com/article/brazil-grains-idAFL1N2LD11J
SAO PAULO, March 15 (Reuters) - Brazil’s major farm town Sorriso declared “a state of emergency” last week after heavy rains during the summer grain harvest caused crop losses and damaged local infrastructure, a local government representative told Reuters on Monday.
The downpours damaged part of the town’s grain crop and disrupted local roads, making it difficult to move produce and restricting the circulation of people in the area.
Wet weather has also delayed planting of Brazil’s second corn crop, which is sown after the soy is harvested in the same areas. Brazil’s farmers have sown 74% of the estimated second corn crop area in Brazil’s Center-South region, less than the 89% in the last season, the consultancy said.
In most parts of Brazil, the ideal climate window for planting the second corn crop has closed, according to AgRural.
#brazil #soybeans #corn
https://www.reuters.com/article/brazil-grains-idAFL1N2LD11J
U.S.
Brazilian soy capital Sorriso declares state of emergency after rains
Brazil's major farm town Sorriso declared "a state of emergency" last week after heavy rains during the summer grain harvest caused crop losses and damaged local infrastructure, a local government representative told Reuters on Monday.
Yes, more acres -- and terrible crop conditions
(GD/EX = Good/Excellent)
#corn #soybeans
via @KevinVanTrump
(GD/EX = Good/Excellent)
#corn #soybeans
via @KevinVanTrump
“It’s a madhouse” - Organic U.S. soy prices hit record, fuel food inflation
A year ago I went on as many interviews as I could to warn about worldwide soybean shortage, rocketing cost of animal feed, increasing food prices, spilling into all grains. It's happening: food prices at 10-year high, ranchers unable to afford feed for their animals. Particularly note that there is nowhere left from whence to import soybeans.
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CHICAGO (Reuters) – U.S. prices for organic soybeans used to feed livestock and manufacture soy milk have surged to record highs as imports that make up most of the country’s supply have declined, triggering price increases for food including organically raised chicken.
The costly soybeans and higher-priced organic products are fueling food inflation at a time consumers are eager to eat better and focus on health during the COVID-19 pandemic. The $56 billion U.S. organic food sector is also grappling with a shortage of shipping containers and a tight labor market as global food prices hit a 10-year high.
Food companies and chicken producers are experiencing bigger sticker shock from prices for organic soybeans, which are shipped in containers, than for the conventional crops shipped in bulk. Regular soy prices are around a seven-year high, rather than an all-time record.
Organic chicken producers are cutting corporate expenses to offset high feed costs and scrambling to source crops produced in the United States rather than abroad. The U.S. imports about 70% of its organic soybeans, according to industry estimates, and U.S. organic production has not increased enough to keep pace with growing demand.
Bell & Evans, a 127-year-old Pennsylvania-based chicken producer, feeds organic U.S. crops to 500,000 to 600,000 chickens each week and must compete for soybeans with other buyers that formerly relied on imports, owner Scott Sechler said. The company raised all chicken prices in July and will likely need to raise organic prices again, he said.
#soybeans #WarOnMeat #usa
https://www.msn.com/en-us/foodanddrink/foodnews/analysis-e2-80-98it-e2-80-99s-a-madhouse-e2-80-99-organic-us-soy-prices-hit-record-fuel-food-inflation/ar-AAPn7G9
A year ago I went on as many interviews as I could to warn about worldwide soybean shortage, rocketing cost of animal feed, increasing food prices, spilling into all grains. It's happening: food prices at 10-year high, ranchers unable to afford feed for their animals. Particularly note that there is nowhere left from whence to import soybeans.
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CHICAGO (Reuters) – U.S. prices for organic soybeans used to feed livestock and manufacture soy milk have surged to record highs as imports that make up most of the country’s supply have declined, triggering price increases for food including organically raised chicken.
The costly soybeans and higher-priced organic products are fueling food inflation at a time consumers are eager to eat better and focus on health during the COVID-19 pandemic. The $56 billion U.S. organic food sector is also grappling with a shortage of shipping containers and a tight labor market as global food prices hit a 10-year high.
Food companies and chicken producers are experiencing bigger sticker shock from prices for organic soybeans, which are shipped in containers, than for the conventional crops shipped in bulk. Regular soy prices are around a seven-year high, rather than an all-time record.
Organic chicken producers are cutting corporate expenses to offset high feed costs and scrambling to source crops produced in the United States rather than abroad. The U.S. imports about 70% of its organic soybeans, according to industry estimates, and U.S. organic production has not increased enough to keep pace with growing demand.
Bell & Evans, a 127-year-old Pennsylvania-based chicken producer, feeds organic U.S. crops to 500,000 to 600,000 chickens each week and must compete for soybeans with other buyers that formerly relied on imports, owner Scott Sechler said. The company raised all chicken prices in July and will likely need to raise organic prices again, he said.
#soybeans #WarOnMeat #usa
https://www.msn.com/en-us/foodanddrink/foodnews/analysis-e2-80-98it-e2-80-99s-a-madhouse-e2-80-99-organic-us-soy-prices-hit-record-fuel-food-inflation/ar-AAPn7G9
Msn
Analysis-‘It’s a madhouse’: Organic U.S. soy prices hit record, fuel food inflation
CHICAGO (Reuters) – U.S. prices for organic soybeans used to feed livestock and manufacture soy milk have surged to record highs as imports that make up most of the country’s supply have declined, triggering price increases for food including organically…
Edible Oil Prices Hit Record High As Food Inflation Treat Soars
Prices of edible oils have been rising across the world. Palm oil, the world's most consumed vegetable oil, surged to a new record high, spreading concerns about persistent global food inflation.
Malaysia's palm oil futures soared more than 40% this year, while soybean oil is up more than 50%. Prices of canola oil are also at a record.
"There are no stopping prices from going higher" until policies are implemented that are likely to cool the commodity market, such as higher interest rates," Varqa said.
… This means that the weight of vegetable oils in the UN's Food and Agriculture Organization's FAO Food Price Index will continue to pressure global food prices higher. Last month, the index hit a new decade high, which includes a basket of food commodities (such as cereals, vegetable oils, dairy, meat, and sugar).
#FoodPrices #soybeans
https://www.zerohedge.com/commodities/edible-oil-prices-hit-record-high-food-inflation-treat-soars
Prices of edible oils have been rising across the world. Palm oil, the world's most consumed vegetable oil, surged to a new record high, spreading concerns about persistent global food inflation.
Malaysia's palm oil futures soared more than 40% this year, while soybean oil is up more than 50%. Prices of canola oil are also at a record.
"There are no stopping prices from going higher" until policies are implemented that are likely to cool the commodity market, such as higher interest rates," Varqa said.
… This means that the weight of vegetable oils in the UN's Food and Agriculture Organization's FAO Food Price Index will continue to pressure global food prices higher. Last month, the index hit a new decade high, which includes a basket of food commodities (such as cereals, vegetable oils, dairy, meat, and sugar).
#FoodPrices #soybeans
https://www.zerohedge.com/commodities/edible-oil-prices-hit-record-high-food-inflation-treat-soars
Zerohedge
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
GRAINS-Wheat and corn up over 20% in 2021, soybeans edge to third year of gains
U.S. corn, wheat and soybean futures were set to post yearly gains, with strong demand and supply constraints in some key production areas of the globe underpinning the markets throughout 2021.
Corn futures Sv1, which have jumped 23.4% this year, have paced the grain markets, supported by increased feed usage by livestock as well as a rebound in the ethanol sector as drivers returned to the roads due to easing COVID-19 restrictions. The corn market has risen for four years in a row.
Wheat futures were up 20.6% for the year and were on track for their fifth straight yearly gain and their biggest since 2010. Crop problems in Australia and worries about export curbs in Russia have supported the wheat market throughout 2021.
Soybean futures, which hit their highest level since 2012 in May, were up just 2.4% for the year, as a bumper harvest in the United States and good growing weather in Brazil have pressured prices during the fourth quarter.
#Corn #soybeans #Wheat #FoodPrices
https://www.nasdaq.com/articles/grains-wheat-and-corn-up-over-20-in-2021-soybeans-edge-to-third-year-of-gains
U.S. corn, wheat and soybean futures were set to post yearly gains, with strong demand and supply constraints in some key production areas of the globe underpinning the markets throughout 2021.
Corn futures Sv1, which have jumped 23.4% this year, have paced the grain markets, supported by increased feed usage by livestock as well as a rebound in the ethanol sector as drivers returned to the roads due to easing COVID-19 restrictions. The corn market has risen for four years in a row.
Wheat futures were up 20.6% for the year and were on track for their fifth straight yearly gain and their biggest since 2010. Crop problems in Australia and worries about export curbs in Russia have supported the wheat market throughout 2021.
Soybean futures, which hit their highest level since 2012 in May, were up just 2.4% for the year, as a bumper harvest in the United States and good growing weather in Brazil have pressured prices during the fourth quarter.
#Corn #soybeans #Wheat #FoodPrices
https://www.nasdaq.com/articles/grains-wheat-and-corn-up-over-20-in-2021-soybeans-edge-to-third-year-of-gains
Nasdaq
GRAINS-Wheat and corn up over 20% in 2021, soybeans edge to third year of gains
U.S. corn, wheat and soybean futures were set to post yearly gains, with strong demand and supply constraints in some key production areas of the globe underpinning the markets throughout 2021.
USDA just released January data, lowering global carryout of soybeans by 9mil bushels, and corn by 2m — this reflects how bad growing season is going in South America.
Supplies remain tight, ie., neither bad weather nor fertilizer shortages / supply chain disruptions will be easily tolerated in 2022. And with China just closing another port — there is good reason to be concerned.
- more expensive food
- more expensive animal feed = less ranchers, more expensive meat
#Soybeans #Corn
Supplies remain tight, ie., neither bad weather nor fertilizer shortages / supply chain disruptions will be easily tolerated in 2022. And with China just closing another port — there is good reason to be concerned.
- more expensive food
- more expensive animal feed = less ranchers, more expensive meat
#Soybeans #Corn
Brazil: ships sit waiting for delayed soybean harvest. They export 44% of global soybean supply — and the beans just aren’t there.
It’s not just Ukraine/Russia that are off the table. We are truly passing the point of no return for global food supply.
#Brazil #soybeans
https://gcaptain.com/ships-sit-empty-for-weeks-waiting-for-delayed-brazil-soybeans/
It’s not just Ukraine/Russia that are off the table. We are truly passing the point of no return for global food supply.
#Brazil #soybeans
https://gcaptain.com/ships-sit-empty-for-weeks-waiting-for-delayed-brazil-soybeans/
gCaptain
Ships Sit Empty for Weeks Waiting for Delayed Brazil Soybeans
By Tarso Veloso (Bloomberg) — A backlog of vessels waiting to load soybeans from some Brazilian ports is stretching to near-record lengths as the world’s biggest bean exporter struggles to harvest...
South America crops in poor condition, yields trending down.
Failures in nearly all breadbaskets as we enter a worldwide food crisis.
#Brazil #Argentina #corn #soybeans
Failures in nearly all breadbaskets as we enter a worldwide food crisis.
#Brazil #Argentina #corn #soybeans