The soy does the same in 0.7% and is located in u$s522,39 the ton, while wheat rises 0.71% until the $264.17.
The world is heading towards tighter grain inventories of recent years, despite the resumption of exports from Ukraine, due to poor shipments and harvests of other large producers are smaller than initially expected. Bad weather in agricultural regions benchmark reduced grain harvests and cut stocks, raising the risk of famine in some of the world’s poorest nations.
The United States, the world’s top corn producer, is expected to harvest its smallest crop in three years. The drought is also punishing European crops and threatening the next planting season in South America.
Brazil also reduced this Tuesday its estimate of soybean, soybean meal and corn exports for September by almost 500 million tons.
Meanwhile, the Russian president, Vladimir Putin, anticipated that he expects his country’s harvest to be a record 150 million tons this year. Nevertheless, Russia It is experiencing difficulties in exporting its holdings due to sanctions for accidents caused by the war. “Deliveries of grain and fertilizers abroad remain difficult,” Putin lamented. “Sanctions against Russia could aggravate the situation and cause a global food crisis“, he warned.
Thanks to a negotiation between the UN and Turkey, the ukrainian exports of grains managed to sell 4.7 million tons.
At the local level, the wheat production They already showed declines in their projections to 16.5 million tons.
By the end of the agricultural campaign 2022/23world corn reserves are expected to be sufficient for 80 days of consumption, 28% less than five years ago and lowest level since 2010/11according to figures compiled for Reuters by the International Grains Council.
That would be fewer days of corn stocks than the world had in 2012, when the last global food crisis sparked riots. The world Bank has destined $30 billion to help counteract food shortages exacerbated by the war, and the President of the United States, Joe Bidenannounced last week nearly $3 billion in additional funding to combat food insecurity.
In China drought also plays a key role in threatening crops while India limited its rice exports. The expectation is centered on the corn and soybean harvests of Brazil be record.
Source: Ambito
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