The price of wheat in global markets went back to pre-war figures Friday, after Ukraine and Russia agreed on a truce to allow for the departure of exports from Black Sea ports under Kyiv's control.
Russian authorities and dignitaries from the Kyiv government are to sign Friday the first deal since the beginning of the war in February. Brokered by Türkiye, the belligerent states will agree in Istanbul on safe corridors through the Black Sea for the export of Ukrainian wheat from its own ports.
Brazil, one of the world's largest exporters of beef is diversifying markets since its sales are concentrated in China and Hong Kong, a situation very similar to that of neighboring Mercosur partners, Uruguay and Argentina.
Farmers in the Netherlands are revolting over the government's plan to drastically reduce nitrogen emissions by 2030 and is pointing to agriculture and farmers as the worst offenders. But farmers have taken to the streets, blocking roads, and distribution centers, and there has been some serious incidents, including police opening fire on protestors,
Argentina has eased conditions for importers of fertilizers and crops' protection products, among other issues by facilitating access to much scarce foreign currency. The Central Bank has increased restrictions on sumptuary imports, traveling, and overseas purchases given the lack of sufficient dollar reserves for the purchase of industry imports.
Brazil expects soybean exports to reach 76.8 million tons in 2022, a 200,000-ton decrease from the estimate released in June, while oilseed processing in the country was adjusted upwards, with good margins for the production of bran and oil, according to Abiove, the Brazilian Association of Vegetable Oil Industries
Warehouses in Brazil are still full of soybeans, harvested just a few months before corn. In the state of Mato Grosso, soybean production was high this season, but at the same time sales are slower than usual, leaving warehouses with no space for corn, according to Cleiton Gauer, superintendent of the Mato Grosso Institute of Agricultural Economics (IMEA).
Bilateral trade between Mercosur partners Brazil and Argentina was reported to have reached US$ 2,937 million in the month of June of 2022, a 46.9% increase against the same period of 2021, according to the Argentine Chamber of Commerce (CAC) document released earlier this week.
Given more optimistic prospects for the supply of corn and wheat, Brazil's National Supply Company, Conab, increased, slightly, the estimate for the 2021/22 market year grain harvest. Overall this has meant that Brazil is expected to have a crop of 272.5 million tons of grains in the current season, 6.7% greater than the previous season.
The barometer for world food commodity prices declined slightly in June for the third consecutive month, the Food and Agriculture Organization of the United Nations (FAO) reported on Friday