In the October FAO News Report on Grains, it is reported that some of Europe’s biggest trade partners fear a potential EU ban on glyphosate could hit exports of crops ranging from Australian wheat to Brazilian soybeans. Their chief concern is if the EU blocks its own farmers from using glyphosate, those same farmers could make it almost impossible, politically, for Europe to continue importing food grown using the herbicide.
It was also reported that global grain markets possess the "recipe for strong volatility" despite apparently strong inventories, according to AHDB lead analyst Jack Watts – likening dynamics to those in banking markets ahead of the world economic crisis. There were "passive risks beneath the surface for grain markets" which were "not dissimilar to passive risks building up 10 years ago" in the banking sector ahead of the global economic crisis. "Long-run risks to the global grain market are growing," said Mr. Watts.
The following are additional highlights from this month\'s report:
- Argentine wheat exports hopes cut, as early harvest yields disappoint
- India formally starts export to Afghanistan via Chabahar with 1.1 million tonnes of wheat
- China cuts minimum purchase price for wheat for first time in over a decade
- South Africa poised for ‘another big’ maize crop – but wheat prospects fall short
- Brazil’s agriculture ministry seeks duty-free quota to import wheat
- US sets antidumping duties on Argentine, Indonesian biodiesel
- EU wheat exporters look to winter revival after Russian glut
- Kenyan maize farmers stare at massive losses amid armyworm invasion
Read Report (pdf)