Latest USDA report – grain prices on the rise

• The latest USDA (United States Department of Agriculture) report brings new increases in grain prices.

Grain prices in international markets rose on the Chicago Stock Exchange after the release of the USDA data. right USDA there will be major changes especially regarding wheat exports. In the current conflict context, exports from the EU and Ukraine have been reduced and Russian exports have increased. Thus the USDA's April report analyzes the impact of the war on the grain market, predicting a new analysis for May, regarding the new 2022 harvest.
On Friday, 8.04.2022/2022/352,21, at the close of trading on the Chicago Grain Exchange, wheat prices for delivery in May 277,53 reached 566,82 euros/ton, US corn, also for delivery in May, was listed on the CBOT at 1067,48, XNUMX euros/ton, soybeans saw a price increase to XNUMX euros/ton, and Canadian canola prices rose to XNUMX euros/ton.

European grain market influenced by Chicago quotations

Obviously, these quotations also have an impact on European grain prices. On MATIF, wheat for delivery in May reached 373 euros/ton, increasing by 9 euros. The price for the new harvest increased by 4 euros, reaching 351 euros/ton. Prices for corn for delivery in June increased by 5,25 euros, registering 323 euros/ton. Rapeseed also had a significant increase, up to 965 euros/ton. The new rape crop was quoted at a price of 827 euros/ton.

Wheat on the international market for the 2021-2022 commercial year

For wheat, in the 2021-2022 commercial year, higher supply, increased consumption, fewer transactions and lower stocks are expected than in the previous month. According to USDA data, this increased supply is due to a combination of higher opening stocks in Pakistan, Brazil and Saudi Arabia, as well as higher production volumes in Pakistan and Argentina.
As far as the European Community is concerned, there is a reduction in wheat production from 139 million tons to 138,4 million tons, while the world consumption forecast for the year 2021-2022 has increased by 3,8 million tons , reaching 791,1 million tons. India will see an increase in consumption of 4,4 million tonnes, coupled with a substantial fall in government stocks.

International trade forecast for the 2021-2022 trading year was reduced by 3,0 million tonnes to 200 million tonnes due to exports affected by the current situation.
EU exports were revised downwards due to decreased exports from 37,5 to 34,0 million tonnes.
On the other hand, wheat exports from Russia increased from 32 to 33 million tons, as did those from Brazil and Argentina.

World corn production

For the global production of maize, barley and sorghum for 2021-2022 there was an increase of 2,7 million tons, reaching 1501 million tons. For this segment the USDA predicts increased production, decreased trades and higher ending stocks this month compared to last month.
This increase in maize production is due to higher harvests in Brazil, Indonesia, Pakistan and the EU. In the EU, growth comes as a result of crops from Germany, Romania and the Czech Republic.
The major changes in global corn trade are produced by lower corn exports for Ukraine, Serbia, and Paraguay, as well as increased exports for Brazil, Canada, and India.
At the same time, corn imports for China were reduced from 26 to 23 million tons.
Global corn ending stocks rose by 4,5 million tonnes from last month to 305,5 million tonnes, mainly due to higher stocks in Ukraine, Serbia, the EU and Indonesia.

Article written by Gabriela Dan, Editor of Arta Albă

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