The latest Quarterly Market Insights Report from Mecardo
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The 2022-23 harvest is another one for the record books, with forecasts tipping wheat and canola production at a new high. This coincides with another year of historically strong prices. Big crops in Australia and Russia are relieving some of the tightness in global grain-ending stocks, but it will take some time for stocks to build significantly. The rebuild of the sheep flock and cattle herd post-drought is now seeing larger volumes of stock flowing onto the market. By nature, this comes with price pressure. But amidst the global economic uncertainty that’s affecting the food, feed and fibre outlook, are positive demand factors like the end of the COVID-zero policy in China. Read Quarterly Market Insights report here. |