Brazil launches R51bn program to help flood victims
Brazil launched a R50.9bn ($9.9bn), multi-step program to help victims of the historic floods that have hit southern Rio Grande do Sul state since late April.
The measures seek to aid workers, social program beneficiaries, companies, rural producers and individual cities. Some of them include the early payment of salaries and social welfare, priority in tax refunds and two additional installments of unemployment insurance, among other actions.
The government will also set aside R200mn to help public banks finance proposals to reconstruct Rio Grande do Sul's infrastructure.
The program will help over 3.5mn people, the government said.
Earlier this week the federal government also launched a decree to ease relief spending to Rio Grande do Sul.
The rains and floods in the state have left at least 113 dead, 146 people missing and more than 165,000 people displaced, according to the civil defense.
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Australian wheat exports fall in June, barley rises
Australian wheat exports fall in June, barley rises
Sydney, 6 August (Argus) — Australia's wheat exports fell in June because of lower demand in parts of southeast Asia and Yemen, but barley exports rose because of a rebound in Chinese demand. Wheat Wheat exports dropped by 21pc on the month to 1.26mn t in June from May, according to the Australian Bureau of Statistics (ABS). Shipments to Vietnam and Malaysia increased on the month, up by 77pc and 62pc respectively, offsetting lower demand from the Philippines and Korea. Volumes shipped to Indonesia fell by 160,000t to 55,000t,while volumes shipped to Yemen fell by 101,000t from May to 55,000t in June. Demand from China remained at low levels of 135,000t in June, mostly unchanged from May and from monthly levels during the October 2023-September 2024 marketing year. Average wheat export to China was approximately 450,000 t/month in October 2023- May 2024. China's current forward buying is limited compared with a year earlier, according to market participants. Barley Barley exports almost doubled on the month to 726,000t in June because Chinese demand rebounded by 277,000t to 530,000t. Vietnam booked its largest monthly barley shipment in the November 2023-October 2024 marketing year at 49,000t. Australia is on track to exceed the US Agricultural department's (USDA) current estimate of 6.9mn t for barley exports for the November 2023-October 2024 marketing year. Australia requires about 215,000 t/month in July-October to meet the USDA target, but the country has been exporting about 755,000 t/month over November 2023-June 2024. By Edward Dunlop Australian wheat and barley exports in June '000t Jun '24 May '24 Jun '23 Oct '23- Jun '24 Oct '22- Jun '23 Wheat Philippines 271.4 333.4 207.5 1,735.5 2,218.8 Korea 151.7 169.0 134.6 966.2 2,264.8 China 135.2 135.5 132.2 3,735.9 6,393.6 Vietnam 127.5 72.1 309.3 985.5 2,375.0 Malaysia 109.0 67.4 88.1 700.6 826.8 Total 1,260.5 1,592.0 2,559.1 16,105.7 25,440.5 Barley China 530.2 252.9 0.0 5,484.3 0.0 Japan 75.6 53.0 155.1 719.8 948.6 Vietnam 49.1 4.5 14.9 138.6 526.6 Mexico 33.0 0.0 33.0 191.4 289.7 Peru 17.0 18.0 0.0 95.8 51.9 Total 725.5 363.7 465.4 6,966.3 5,726.5 Source: Australian Bureau of Statistics Note: barley marketing year is November - October but for simplicity this table is October-September to match wheat marketing year Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
France to produce 25.17mn t of wheat in 2024
France to produce 25.17mn t of wheat in 2024
Paris, 5 August (Argus) — Argus expects France to record its smallest wheat harvest in 41 years after near-continuous rain from planting right through until harvest proved detrimental to yields. Argus projects yields in France's 2024 wheat crop at 5.933 t/hectare (ha), down by 18.7pc on average yields in the past five years. Together with areas at 4.243mn ha, this would put this year's French wheat production at 25.17mn t. The figure is nearly 10mn t below last year's crop and represents a 27.2pc drop on the past five-year average. Argus collected feedback from farmers, grain trading firms and co-operatives across France during the week of 1-5 August. Market participants on the whole said their yields fell by 15-25pc compared with their previous averages. Only producers in the southernmost parts of France reported less of a drop. Wet weather set the season off to a poor start at the time of planting. And the outlook for French wheat then took a further hit from crop disease, low temperatures and a lack of sunlight hours. Unfavourable weather has also weighed on the quality of French wheat. Key measures of quality, in particular the test weight of the crop, vary highly from region to region this year. Grain processors will be able to assure there is wheat available to meet the standards of domestic and international buyers, despite a high volume of feed grade in this year's crop. But both French producers and exporters have already slowed sales activity at the start of the 2024-25 marketing year in response to signs of a poor crop. Argus ' output forecast puts this year's crop even smaller than in 2016, when France had its smallest harvest so far this century. In 2016, larger planted areas partially offset a drop in yields to 5.374 t/ha thanks to a generally favourable start of the season, before the weather turned less beneficial to wheat crops in spring. By Claudia Jackson French milling wheat production since 1970 French milling wheat production since 1970 Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US soft red winter wheat may attract buyers
US soft red winter wheat may attract buyers
New York, 2 August (Argus) — US soft red winter wheat (SRW) exports are likely to increase because of the crop's price competitiveness on the world stage. Demand for SRW has been relatively low recently, and US farmers have not been especially active in the market. But those dynamics may soon change. Argus assessed US Gulf coast SRW at $213.85/t on 1 August, making it the cheapest milling wheat globally behind Ukraine's milling wheat at $212.50. Buyers interested in US SRW would likely come from the same destinations that have bought the product the past. Nigeria was a consistent buyer of SRW, averaging 341,000t prior to the 2019-20 marketing year, according to the US Department of Agriculture (USDA). Nigerian purchases have sunk to 65,000 t/yr on average since that marketing year, but with favorable SRW economics Nigerian buyers may be enticed to purchase again. Brazil could increase purchases of US SRW as well. Brazil has shifted to Black Sea and US origin milling wheat recently because of favorable pricing, according to market participants. The top five destinations for US SRW have accounted for 66pc of the crop's exports on average over the past seven years, according to the USDA. The buyers have historically been in the Western hemisphere, with a few exceptions. For the 2024-25 marketing year, USDA is forecasting SRW exports of 3mn t, down from 4.3mn t a year prior. By Eduardo Gonzalez Top destinations for US soft red winter wheat Rank 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 1 Mexico Mexico Mexico Mexico Mexico Mexico China 2 Colombia Egypt Colombia Colombia China Colombia Mexico 3 Nigeria Nigeria Nigeria China Colombia Ecuador Ecuador 4 Peru Colombia Peru Peru Nigeria China Colombia 5 Dominican Republic Indonesia Dominican Republic Dominican Republic Peru Peru Peru Top 5 total exported (t) 1,520,945 2,110,375 1,554,131 1,255,651 1,931,069 1,861,744 3,217,723 US SRW exports (t) 2,512,892 3,323,258 2,452,794 1,840,659 2,873,633 2,844,707 4,319,514 Top 5 percentage 60.5 63.5 63.4 68.2 67.2 65.4 74.5 — USDA, Argus Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US Senate approves waterways infrastructure bill
US Senate approves waterways infrastructure bill
Washington, 1 August (Argus) — The US Senate today unanimously approved a waterways infrastructure bill authorizing river navigation improvements, setting the stage for negotiations later in the year with the US House of Representatives, which has passed its own legislation. This is "crucial bipartisan legislation to invest in our nation's water infrastructure, protect our communities and support good-paying jobs," said senator Tom Carper (D-Delaware), chairman of the Senate Environment and Public Works Committee. Carper introduced the biennial bill earlier this year. The bill would authorize US Army Corps of Engineers (Corps) projects focused on navigation, flood control and ecosystem restoration. In all, the Senate bill measure would authorize 83 feasibility studies and 13 new and modified projects. The bill regularly draws bipartisan support because its projects and programs impact all 50 states. "By passing this legislation, the Senate took a significant step toward strengthening our water infrastructure, supporting our national economy, better protecting communities from flood risks, and helping the Corps carry out its mission now and in the future," senator Shelley Moore Capito (R-West Virginia). The House approved a companion but somewhat different bill on 22 July. Lawmakers now will have to hammer out difference between the two versions in a conference committee, unless one chamber opts to pass the other house's language. But no action is expected before September at the earlier. The Senate adjourned today for its August recess and is not expected to reconvene until 9 September. The House left town last week. Passage of a final bill could be further complicated by election year politics. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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