The US Department for Agriculture (USDA) is increasing forecasts for world wheat production after higher Chinese production than previously thought. This is despite other countries reporting less wheat harvested than previous estimates.
China’s National Bureau of Statistics (NBS) published new information which resulted in USDA stating that total world wheat production is revised up by 2.6m tonnes in 2018/2019. Australian production is less than thought with 17.5m tonnes down 1m tonnes.
The trade row with China is seeing a sharp decline in US soya heading to the world’s most populous nation. As a result South American soya producers are likely to benefit from the fall out. US soya in turn looks to go to the gaps in the market in the rest of the world. The USDA estimate for world soya bean production this year has dropped by 2m tonnes to 368m tonnes. The US and Argentina look to have smaller crops than thought whilst China, India and Ukraine have larger.
ADVERTISEMENT
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The US Department for Agriculture (USDA) is increasing forecasts for world wheat production after higher Chinese production than previously thought. This is despite other countries reporting less wheat harvested than previous estimates.
China’s National Bureau of Statistics (NBS) published new information which resulted in USDA stating that total world wheat production is revised up by 2.6m tonnes in 2018/2019. Australian production is less than thought with 17.5m tonnes down 1m tonnes.
The trade row with China is seeing a sharp decline in US soya heading to the world’s most populous nation. As a result South American soya producers are likely to benefit from the fall out. US soya in turn looks to go to the gaps in the market in the rest of the world. The USDA estimate for world soya bean production this year has dropped by 2m tonnes to 368m tonnes. The US and Argentina look to have smaller crops than thought whilst China, India and Ukraine have larger.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS