By Claire Hutchins, USW Market Analyst For the first time since 2013/14, total U.S. winter wheat planted area increased on the year as producers took advantage of dry seeding conditions and strong prices through fall 2020. USDA’s 2021/22 Winter Wheat Seedings report, released Jan. 12, reported U.S. farmers planted 32.0 million acres (12.9 million hectares) […]

India and the US are negotiating on a wide range of trade concerns, including greater access to the Indian market for American agricultural products, potentially in exchange for America restoring New Delhi's status under the Generalised System of Preferences (GSP), according to a Congressional report.

President Donald Trump in 2019 terminated India's designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide equitable and reasonable access to its markets.

While India is among the world's largest producers and consumers of a range of crop and livestock commodities, United States Department of Agriculture (USDA) projects that India will continue to be an important importer of dairy products, vegetable oils, pulses, tree nuts, and fruit and that it will continue to be a major exporter of rice, cotton, and buffalo meat.

After experiencing a tumultuous year during 2020, the corn market in 2021 is going to see lower exports from Ukraine, a key producer, due to drop in the production.

The USDA estimates Ukrainian exports at 24 million mt, a decline of 17% year on year, for 2020-21 marketing year in its December World Agricultural Supply and Demand Estimates.

Wheat prices have been firm around the world with strong demand, notably because of the feed needs of the EU and China, coming up against concerns over unfavorable weather for production. The resurgence of the coronavirus (COVID-19) pandemic, along with the imposition by many governments of renewed lockdown measures has raised further uncertainties about how demand will develop. The US Department of Agriculture’s Foreign Agricultural Service (FAS) said in its Grain: World Markets and Trade report, published Nov. 10, that “world wheat prices remained firm . . .

With prices at multi-year highs, all eyes in the grain market were on the United States Department of Agriculture’s (USDA) first report of the calendar year on Tuesday. And the reaction to the report did not disappoint.

The futures market responded bullishly to the January World Agricultural Supply and Demand Estimates (WASDE), with old crop soybean futures rising by around 50 cents a bushel and corn futures up around 25 cents.

On the corn front, ending stocks came in slightly below trade expectations at 1.552 billion bushels. Global corn stocks, at 283.8 million tons, are projected down 5.1 million. Corn production is estimated at 14.182 billion bushels — down 324 million on an almost 4 bushel/acre (!) yield decrease and a slight reduction in harvested area.

The ongoing trade spat between Australia and China has taken a new twist as the Aussies have now requested assistance from the WTO. At the height of the argument are trade tariffs imposed by China on several agricultural goods from Australia, but more so the huge 80% tax on barley that was imposed in May of 2020.

Australia will now challenge China’s tariff on its barley exports in an appeal to the World Trade Organization (WTO). Australian Minister for Trade Simon Birmingham did admit the appeal may take years to be resolved. He said: “This is the logical and appropriate next step for Australia to take. We are highly confident that based on the evidence, data, and analysis that we have put together already, Australia has an incredibly strong case to mount in relation to defending the integrity and propriety of our grain growers and barley producers.

Grain inventories held by businesses across China hit a nearly 15-year-high while corn stocks in Northeast China have tripled compared with the same period last year, the country’s National Food and Strategic Reserves Administration (NFSRA) said on Tuesday, offering a fresh assurance to maintain an adequate grain supply in 2021.

Russia is considering increasing its currently planned wheat export tax as part of its efforts to stabilize domestic food prices, the head of the Russian Union of Grain Exporters told Reuters. The tax is currently set to be $30 per tonne between Feb. 15 and June 30. Along with the tax, Russia has set a grain export quota and taken other measures to stabilize prices. Eduard Zernin, head of the grain export group, said the $30 levy has been completely absorbed by . . .