Quote
As of July 15th Bulgarian farmers had harvested around 30% of the nation's wheat crop, with yields averaging 3.2 MT/hectare, according to the Agriculture Ministry.
They've trimmed their final wheat production estimate from 3.6-3.7 MMT to 3.5-3.6 MMT, around 20% lower than last season's output.
Around 92% of the nation's barley has been cut with yields averaging 3.4 MT/hectare, the Ministry say, with final production estimated at 755,000 MT, 16% down on last year's crop of 900,000 MT.
They've trimmed their final wheat production estimate from 3.6-3.7 MMT to 3.5-3.6 MMT, around 20% lower than last season's output.
Around 92% of the nation's barley has been cut with yields averaging 3.4 MT/hectare, the Ministry say, with final production estimated at 755,000 MT, 16% down on last year's crop of 900,000 MT.
Quote
Argentine farmers will plant just 2.6 million hectares of winter wheat for the 2009/10 season, according to Oil World. That's 200,000 hectares down on their last estimate and a stunning 2.1 million less than was planted in 2008/09.
Last season's drought-ravaged crop only managed to yield 2 MT/hectare, and subsoil moisture levels have been depleted even further since then.
Of course it's not all about drought, part of the reason behind lower plantings is a two fingered salute to the government and their export restrictions.
Last season's drought-ravaged crop only managed to yield 2 MT/hectare, and subsoil moisture levels have been depleted even further since then.
Of course it's not all about drought, part of the reason behind lower plantings is a two fingered salute to the government and their export restrictions.
Quote
Brazil, the world's third largest wheat importer, bought 51,000 MT of US wheat last week, that's more US wheat than it bought in the entire first six months of the year, despite a 10% import tax imposed by the government on purchases from outside the Mercosul bloc.
Brazil's normal favoured wheat supplier is Argentina, but they of course have had a disastrous 2008 crop and are about to conclude the planting of another one.
With the Brazilian real strengthening against the dollar, millers that are being forced to look outside Mercosul for supplies are finding US wheat fitting the bill quite nicely.
Brazil's normal favoured wheat supplier is Argentina, but they of course have had a disastrous 2008 crop and are about to conclude the planting of another one.
With the Brazilian real strengthening against the dollar, millers that are being forced to look outside Mercosul for supplies are finding US wheat fitting the bill quite nicely.
Much more info (just skim some) available here.
http://www.marketskeptics.com/2009/07/worl...econd-half.html
Wouldn't it be ironic if foods crammed full of wheat, etc...shot to the same price as gluten-free foods are now or even higher. Let's say this somehow came true and wheat prices became so high, that manufacturers look at how to cut out wheat/barley, etc... from things that don't need it. Could it open up the possibility of more foods we could eat again? Possibly. Would it last? Probably not since wheat prices would eventually go down again and thus manufacturers put it back into unnecessary things.

Help













