Wheat Procurement Exceeds Estimates; Open Market Prices Drop As of 4 June 2018, 34.724 MMT of wheat had been procured for 2018/19 by the Food Corporation of India (FCI) and state agencies, 8.51 percent more than the government of India’s (GOI’s) fixed target of 32 MMT. For reference, the 2017/18 procurement totaled 30.824 MMT.
Two states that form the country’s breadbasket, Punjab and Haryana, have delivered the most wheat to GOI warehouses at a total 21.43 MMT, 61.71 percent of the volume procured thus far. While the procurement is completed there, it is still open in parts of Uttar Pradesh, Madhya Pradesh and Rajasthan. The final total is expected to possibly reach 35 MMT, which would be a record. While this is good...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
Argentina Wheat Signs of El Niño are beginning to emerge across Argentina, with rainfall recorded across several key agricultural regions this week. The Core region's wheat crop has benefited particularly from these rains, alleviating previous moisture deficits and providing a firmer flo...
