May 7, 2024 | 01:02 GMT +7
Hotline: 0913.378.918
May 7, 2024 | 01:02 GMT +7
Hotline: 0913.378.918
(VAN) U.S. wheat prices have plummeted as cheap supplies from the Black Sea and Europe replenished global stocks of the staple grain, and as plentiful corn harvests worldwide pressure the entire commodity grains complex.
(VAN) Ukrainian farmer Mykola Tereshchenko hopes to start harvesting his wheat fields this week, but the smallholder in northern Ukraine has nowhere to store the grain.
(VAN) High global grain prices encourage food production in many countries. World grain output is forecasted to increase in the next season.
China’s government said on Friday it will raise its minimum purchase price for wheat and rice and expand corn planting areas this year, reiterating earlier plans to boost grain output after prices soared last year.
Although trade volumes remain historically high, the country’s relative impact on global exports is smaller than ever.
China has boosted its grain imports as its hog farming has recovered while it has faced corn shortfall, which is reshaping the global grain market.