Articles Tagged with ''wheat''

A measure of global food commodity prices fell slightly for the second month in a row in May, despite the continued surge in wheat markets as the war in Ukraine dragged on.

The Philippines, citing the impact of the Russian invasion of Ukraine on world grain supplies and prices, has reduced its tariff on corn imports from 35% down to 5% and that has opened new opportunities for U.S. corn farmers.

The Biden administration wants to make more farmers eligible for insurance when they grow wheat and soybeans in the same crop year, but some industry experts doubt the plan will do as much as the White House hopes in scaling up wheat production.

President Joe Biden announced Monday from Tokyo the official launch of his Indo-Pacific Economic Framework, or IPEF, that will so far include Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.

Farmers in the Corn Belt are behind on planting spring crops this year, with cool and wet weather keeping them out of their fields. Many are now racing to get their corn and soybean acres planted before they reach the cutoff dates for federal crop insurance programs.

An agreement to ban food export restrictions could be in reach for the World Trade Organization after years of failing to produce a major achievement.

Russia is doing whatever it can to stop Ukraine from supplying some of the poorest nations with its wheat, corn and sunflower seed oil, effectively using “hunger as a weapon of war,” U.S. Agriculture Secretary Tom Vilsack said during his participation at the G7 summit this weekend in Germany.

India on Saturday banned wheat exports in efforts to protect its domestic supply and that’s drawn the criticism of the U.S. and its fellow G7 member countries, says U.S. Agriculture Secretary Tom Vilsack.

The Agriculture Department estimates U.S. winter wheat production will drop 8% this year due to a drought gripping the Plains and that planting delays are likely to cut the corn harvest.

Ukrainian farmers will begin harvesting millions of acres of winter wheat in July, but if Ukraine is unable to export it, the country’s economy will likely collapse and the hundreds of millions of people that depend on receiving that grain will suffer even worse than they are now, United Nations World Food Program Executive Director David Beasley said Wednesday.