{"id":99,"date":"2010-08-26T10:09:16","date_gmt":"2010-08-26T09:09:16","guid":{"rendered":"http:\/\/www.cardy-brown.com\/?p=99"},"modified":"2010-08-26T10:09:16","modified_gmt":"2010-08-26T09:09:16","slug":"how-long-will-the-wheat-price-last","status":"publish","type":"post","link":"https:\/\/www.cardy-brown.com\/?p=99","title":{"rendered":"How long will the wheat price last?"},"content":{"rendered":"

Russia’s poor 2010 wheat harvest has sent prices north but for how long?<\/span><\/p>\n

<\/span>The Russian shortages of wheat are also being compounded by news of further crop failings in Europe. Germany’s 2010 grain crop is likely to fall to around 44 million tonnes from 49.7 million last year due to poor weather conditions. More recently, Russian wheat plantings for the next season have been estimated at 0.356 million hectares as opposed to 0.964 million hectares this time last year. The continued hot, dry weather is causing the soil to compact so that plantings are difficult due to the dryness and hardness of the soil. We can therefore expect Russia to be experiencing continued shortages which will support wheat prices out into 2011. They will push Kazakhstan to limit their export for any other destination other than Russia. <\/span>
\nGlobal grain buyers can move to the US, EU or Australia to fill the vacuum created by the Russian ban. However the degree of panic in the market is such that wheat prices are likely to remain high \u2013 at least until the New Year. Russia was the world’s third largest wheat exporter and news of its fallout of the export market and entry into the import market has attracted a lot of attention. Much actually depends on the volume of the Canadian harvest \u2013 which has only just begun to get underway. With both the US and Canada producing strong crops the pandemonium could subside. However the European, North African and Middle Eastern markets will all be paying a lot more for their wheat well into 2011.<\/span><\/span><\/span>Underpinning the wheat price is not only news of strong buying of wheat and corn in China but the increasing reports of Pakistanis desperate need for animal feed. The UN has asked for $5.7 million in emergency assistance for livestock and FAO has mobilized $1.4 million of funds for the procurement of feedstuff and for animal health vaccines. FAO will be asking for more money for this sector once the full scale of needs is clear. The floods have affected the most densely populated livestock areas in Pakistan. Livestock make up about half of agricultural GDP.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Russia’s poor 2010 wheat harvest has sent prices north but for how long?<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=\/wp\/v2\/posts\/99"}],"collection":[{"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=99"}],"version-history":[{"count":0,"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=\/wp\/v2\/posts\/99\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=99"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=99"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cardy-brown.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=99"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}