Livestock producers can expect abundant feed grains and subsequent downward pressure on prices as bumper maize harvests are predicted in the EU and the US, and a greater proportion of the EU wheat crop is diverted to feed use.
The US Department of Agriculture (USDA) has raised its forecast for projected EU feed wheat supplies for 2014/15 by 2.5 million ton in its World Agricultural Supply and Demand Estimates (WASDE), which were published this week.
A leading economist says that industry sources and analysts predicting the Russian wheat export ban will have little impact on EU food prices are “naïve”, and overlook the fact that major futures contracts for Russian wheat are now worthless.
Food manufacturers could be hit by a global shortage of grain and
wheat supplies, as harvest forecasts for the 2002-03 season look
increasingly unfavourable. With global stocks being eaten away,
what remains to be seen is how much...