Russia - wheat forecast raised

Russian agricultural consultancy IKAR recently raised its 2022 wheat production estimate to 97Mt. Russian exporters hope that there will be more business done in September to help move this large Russian crop.

China - pork imports to fall in 2023

USDA forecasts that China’s import of pigmeat will fall to 1.85m tonnes in 2023, compared with 2m tonnes forecast for 2022 and imports of 4.3m tonnes in 2021.

USA - inflation rises

US core inflation, which excludes volatile items such as energy and food, unexpectedly increased to 6.3% in August, up from 5.9% in July.

Argentina - increased cattle kill

In the first eight months of 2022, Argentina processed 8.8m cattle, which is 3% more than in the same period in 2021.