Market update week 49
In France, autumn agricultural work continues to advance despite recent episodes of rainfall. As of November 25, FranceAgriMer reported the following progress:
- Soft wheat: 93% of planting completed, versus the historical average of 91%.
- Winter barley: 98% of planting finished, above the 96% average.
- Corn: 89% of the crop harvested, compared to a typical 98%.
In France, autumn agricultural work continues to advance despite recent episodes of rainfall. As of November 25, FranceAgriMer reported the following progress:
- Soft wheat: 93% of planting completed, versus the historical average of 91%.
- Winter barley: 98% of planting finished, above the 96% average.
- Corn: 89% of the crop harvested, compared to a typical 98%.
Soft wheat exports from the European Union totalled 9.5 million metric tons between July 1 and December 1, a decrease from 13.8 million metric tons during the same period last year, based on data from the European Commission. Barley exports reached 1.9 million metric tons, down from 3.1 million metric tons a year ago. Analysts highlighted gaps in export data for 2024 from France, Bulgaria, Ireland, and Italy.
Soft wheat exports from the European Union totalled 9.5 million metric tons between July 1 and December 1, a decrease from 13.8 million metric tons during the same period last year, based on data from the European Commission. Barley exports reached 1.9 million metric tons, down from 3.1 million metric tons a year ago. Analysts highlighted gaps in export data for 2024 from France, Bulgaria, Ireland, and Italy.
With the introduction of an 11 million metric ton export cap for the period from February 15 to June by Russia, the country’s total wheat exports are estimated at 44 million metric tons—4 million tons below the USDA’s forecast. This increases the dependence on strong export volumes from the Southern Hemisphere, particularly from Argentina and Australia. For Australia, ABARES reports a favorable outlook with a wheat harvest projected at 31.9 million metric tons (compared to 32 million metric tons estimated by the USDA). For barley, ABARES estimates production at 11.7 million metric tons (slightly below the USDA’s 12.2 million metric ton forecast).
With the introduction of an 11 million metric ton export cap for the period from February 15 to June by Russia, the country’s total wheat exports are estimated at 44 million metric tons—4 million tons below the USDA’s forecast. This increases the dependence on strong export volumes from the Southern Hemisphere, particularly from Argentina and Australia. For Australia, ABARES reports a favorable outlook with a wheat harvest projected at 31.9 million metric tons (compared to 32 million metric tons estimated by the USDA). For barley, ABARES estimates production at 11.7 million metric tons (slightly below the USDA’s 12.2 million metric ton forecast).