US – soya prices rise due to weak dollar

Futures prices for soya meal rose strongly this week at the Chicago Board of Trade to above $335/t. Prices are rising in response to a weakening US dollar and positive trade talks between the White House and Beijing. China is the largest buyer of US soya.

New Zealand – February milk production flat

February milk production in New Zealand stood at 1.8bn litres, which was in line with the same month last year, despite there being an extra day in February 2020 due to the leap year. This brings New Zealand milk production for the 2019/20 milking season to 17.2bn litres, which is down 0.4%.

EU – wheat exports hit record highs

Wheat exports from the EU for the 2019/20 season came in at the second highest on record. EU grain exporters shipped more than 23m tonnes of wheat last year, which is a huge improvement on the 13m tonnes exported in 2018/19 and only slightly behind the 23.3m-tonne record set in 2014.

Brazil – soya bean production revised down

Grain market analysts in Brazil have lowered their forecast for Brazilian soya bean production in 2020 from an original forecast of 126m tonnes to a new estimate of 124m tonnes due to challenging weather conditions in the country.