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14 October 20243 min reading
COCERAL lowers 2024 EU grain crop forecast amid challenging weather conditions
COCERAL, the European association of trade in cereals, oilseeds, pulses, animal feed, olive oil, oils and fats, and agrosupply, has released its fourth forecast for the 2024 grain crop, projecting a significant reduction in total production for the EU-27+UK. The total grain output is now expected to reach 280.3 million tonnes, a notable decrease from the previous estimate of 296 million tonnes in June and down from the 294.2 million tonnes harvested in 2023.
11 October 20243 min reading
Fastmarkets’ Global Grain Geneva-2024: The Premier Global Gathering for Agri Traders
Fastmarkets is inviting you to join the upcoming Global Grain Geneva Conference 2024, one of the world’s most prestigious events of agri-commodity traders, leaders and industry experts.
11 October 20242 min reading
Algeria aims for wheat self-sufficiency by 2025
Algerian President Abdelmadjid Tebboune announced 2024, that the country is on track to achieve full self-sufficiency in durum wheat production by the end of 2025.
11 October 20243 min reading
Turkey reportedly set to partially lift wheat import ban
Turkey’s wheat import ban, in effect since June 21, will be partially lifted after October 15.
Cover Story
COVER STORY
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09 October 20244 min reading
Reimagining grain storage: How square silos are changing the game
As global food demand continues to rise, the need for efficient, reliable grain storage solutions becomes increasingly important.
09 October 20247 min reading
Safeguarding grains: Balancing food safety, quality, and sustainability
In an era marked by significant climatic shifts and growing food security concerns, the principle “every single grain counts” has never been more relevant.
09 October 20245 min reading
Safeguarding the grain: Ensuring crop safety and quality
In today’s complex agricultural environment, safeguarding the quality and safety of grain crops is more essential than ever.
11 September 20246 min reading
Focusing on food security: How to enhance the resilience of the food system
Grains are essential to global food security, but ensuring that there is enough for everyone requires a multi-faceted approach.
Interview
INTERVIEW
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09 October 20247 min reading
Wheat import ban threatens Turkey’s flour export leadership
“The import ban on wheat imposed by TMO until October 15 has been an extremely challenging period for our sector. The ban on imports and the uncertainty in wheat prices have created serious difficulties in maintaining our leadership position in the global market. During this period, our exports have seen an average decrease of 40%. We hope for a swift resolution to restore our export successes. We urge the authorities to support us by providing solutions to ensure we obtain wheat at global prices, so we do not lose our export markets.”
11 September 202419 min reading
Turkish Mercantile Exchange’s 5-Year Journey: How TMEX is Transforming Turkey’s agricultural sector and grain markets
The Turkish Mercantile Exchange (TMEX) is leading the transformation of Turkey's agricultural sector, marked by a remarkable threefold increase in licensed warehouse capacity over five years and the upcoming launch of a futures market by 2025.
04 September 20247 min reading
Ukrainian Wheat: Harvest insights and the global export landscape
In an insightful interview with Miller Magazine, grain market observer at Fastmarkets, Masha Belikova sheds light on the factors influencing Ukraine’s wheat export strategies, the impact of European crop shortages, and the complexities of maintaining stable trade routes amid geopolitical tensions.
09 August 20247 min reading
Food City Project: Molino's vision for integrated, sustainable food systems
In an exclusive interview, Salim Alaybeyi, Vice President of Molino, reveals how the company’s 70-year legacy has evolved into a global leader in grain processing.
Article
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09 October 20245 min reading
Weather and geopolitical tensions add pressure to global grain markets
As extreme weather and geopolitical tensions present challenges to global food security, the global grain market is facing significant hurdles.
12 September 20249 min reading
Ensuring optimal grain quality: The future of wheat testing
“Given the diverse quality assessment requirements at different stages of wheat processing— ranging from storage to milling to food production—there is a growing need to explore the current applications of NIR technology in wheat testing..."
11 September 20247 min reading
Modernizing maize: How technology is enhancing Mexico’s staple grain
Maize matters in Mexico. The region that first farmed the versatile grain is still the world’s largest per-capita consumer.
15 August 20248 min reading
Molino Quaglia: Where flour becomes art
Molino Quaglia has been producing wheat flour for more than 100 years in the heart of the Veneto region in Este in Northeastern Italy.
Country Profile
COUNTRY PROFILE
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10 October 20245 min reading
Japan struggles with rice shortfall amid surging prices
Japan is experiencing a shortage of rice, leading to escalating prices and widespread empty shelves in supermarkets, as demand has outstripped supply.
12 September 20249 min reading
Turkey’s new roadmap in grain industry
Grains form the backbone of Turkey’s agricultural production, standing out as an indispensable resource for both plant and animal production.
11 July 20249 min reading
Pakistan’s grain outlook
According to the USDA’s latest June Pakistan country report, wheat production for the marketing year 2024/25 (May-April) is expected to reach a record 31.4 million metric tons (MMT), which is eleven percent higher than last year’s production of 28.2 MMT.
13 June 20245 min reading
Canada’s Grain Outlook for 2024/25
Canada remains a major player in global grain production, consistently ranking among the top producers and exporters of wheat, barley and canola.
Technology Platform
TECHNOLOGY PLATFORM
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12 August 20249 min reading
Adapting grain management strategies to meet a changing world
In an industry where innovation meets necessity, CESCO EPC GmbH stands out as a model of invention and resilience.
10 June 20244 min reading
Growing global demand fuels innovation in grain logistics
In an interview during the recent IDMA Istanbul Expo, Mehmet Büyükzeren, the General Manager of Yılmaz Kardeş Hydraulic Machinery Industry Co., shares his insights on the critical role of logistics in the global grain trade and the increasing demand for advanced unloading platforms.
10 June 20244 min reading
Turkish milling machinery sector seeks export funding boost
One of our significant visits at the IDMA Expo was Çift Kartal, a stalwart in the milling machinery industry with over half a century of experience.
04 June 20245 min reading
Maxi-Lift’s focus on EAME and APAC markets highlighted at IDMA Expo
In an interview during the IDMA EXPO in Istanbul, André Rigo, International Sales Director of DuraPlas/Maxi-Lift Inc., shared insights on the company’s journey, recent innovations, major projects, and the future of the grain processing industry.
Market Analysis
MARKET ANALYSIS
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10 October 20247 min reading
Turkey’s new wheat import rules & world weather woes
Implementation of Turkish wheat import ban on 21 June 2024 was a heavy bearish factor for Black Sea wheat and freight market.
06 September 20248 min reading
Ukrainian wheat export: From tradition to transition
Ukraine has faced significant challenges in maintaining its traditional markets in North Africa, the Middle East, and Southeast Asia – particularly in Egypt, Turkey, and Indonesia – since the onset of the war.
09 August 202410 min reading
Upcoming barley trends or how to ride the wave?
The prospects of Ukrainian barley export in 2024/25 MY may seem quite gloomy from the point of view of potential buyers’ demand, as such key destinations like Spain and China may reduce purchases.
11 July 20248 min reading
Turkish wheat import ban pressed prices beforehand harvesting
On 06 June 2024, the government of Turkey introduced a ban on wheat import for the period from 21 June 2024 to 15 October 2024. The measure is taken to protect local farmers during the harvesting period.
Idma Today
IDMA TODAY
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11 June 20245 min reading
IDMA Today and BBM Mutfak bring dynamism and flavors to IDMA
At IDMA Istanbul, the industry witnessed the debut of two initiatives by Parantez Media:
09 May 20243 min reading
TABADER hosts 5th Doyens Award Night
Simultaneously organized with IDMA Istanbul, the fifth edition of TABADER’s now customary Doyens Award Ceremony took place on May 2nd at Wow Hotel.
08 May 20244 min reading
IDMA Istanbul hosts pulse of grain processing industry with 10,000 visitors from 120 countries
The global grain processing industry convened in Istanbul. The domestic sector, specializing in flour, grain, feed, pulses production equipment, and milling machinery, crucially exporting 90 percent of its output, gathered with over 10,000 professionals from 120 countries at the 10th IDMA Istanbul.
04 May 20242 min reading
Turkish-Moroccan flour industry bond strengthened at IDMA Expo
In an exclusive interview during the IDMA Expo in Istanbul, Moulay Abdelkadir Alalaoui, President of the Moroccan Flour Milling Federation (FNM), provides a comprehensive overview of the state of flour milling in Morocco and its relationship with Turkey.

BLOG

Global grain stocks hit 10-year low

30 May 20244 min reading

According to the latest report from the IGC, global grain stocks are expected to decrease to a decade-low in the 2024/25 season. Despite a projected 1% increase in overall grain output for the season, closing stocks are estimated at 580 million tons, driven by declines in wheat and maize inventories.

The International Grains Council (IGC) released its latest Grain Market Report on May 23, detailing supply and demand projections for the 2024/25 season across major grains and oilseeds, including wheat, maize, soybeans, and rice.

According to the report, world grain output is projected to increase by a further 1% in 2024/25, reaching 2,312 million tons (m t). In contrast to the previous season's trends, maize production is expected to be lower, while other commodities are anticipated to show year-on-year (y/y) gains. Global grain consumption growth is expected to be fairly modest, rising by 9 million tons y/y to 2,320 million tons, with food, feed, and industrial uses reaching new peaks. Closing stocks are pegged at a 10-year low of 580 million tons (-1%), led by declines in wheat and maize, with exporter inventories at 142 million tons (-3%). Maize accounts for most of the 2 million ton reduction in the forecast for global trade, projected at 416 million tons (-4% y/y).

World total grains production in 2023/24 is forecasted to be 4 million tons lower month-on-month (m/m), at 2,297 million tons, mainly due to smaller sorghum and barley estimates. While the supply outlook is somewhat cushioned by increased carry-ins, the estimate for carryover stocks is reduced by 3 million tons m/m, to 588 million tons. Boosted by larger wheat and maize flows, the forecast for trade is increased by 8 million tons from the previous estimate.

GLOBAL WHEAT TRADE EXPECTED TO DECLINE

The IGC forecasts world wheat production at 790 million tons for the 2023/24 season, increasing to 795 million tons for the 2024/25 season. While world wheat trade reached 206 million tons in the 2023/24 season, the IGC's forecast for the new season is 196 million tons. “While global trade may retreat for a second consecutive season in 2024/25, current supply projections indicate a potential shift in exports from the Black Sea region to other major exporters,” the IGC noted.

According to the report, world wheat consumption will exceed production in the new season, reaching 801 million tons. "Global wheat consumption in 2024/25 is expected to retreat year-on-year (y/y), amid projected smaller crops in some key consumers and strong competition from feed alternatives, including in Europe and Pacific Asia," the IGC said. The IGC estimates world wheat closing stocks for the 2023/24 season at 266 million tons, with a forecast of 260 million tons for the 2024/25 season. Stocks in major exporters are expected to decline from 61 million tons to 56 million tons.

The IGC forecasts world maize production to reach 1.22 billion tons in the 2024/25 season. It also expects corn trade to fall from 186 million tons to 175 million tons. "Global corn output in 2024/25 could expand to a fresh peak despite various constraints, including in Argentina, where significant yield and area losses from corn stunt disease in late-season crops have been noted," the report said.

WORLD RICE PRODUCTION SET TO SOAR

Revised figures for world rice production and total supplies in 2023/24 indicate increases in consumption and aggregate stocks. Boosted by 3 million tons month-on-month (m/m), global rice output in 2024/25 is projected at a record 523 million tons (+2%), leading to an upgraded prediction for combined reserves. Trade in 2025 is pegged at 52 million tons, slightly higher than in April, driven by increased projections for Asian and African buyers, with much of the m/m gain attributed to upward adjustments for Indian and US exports.

Based on larger-than-anticipated dispatches to key markets, including China, the outlook for world soybean trade in 2023/24 has been increased by 2 million tons month-on-month (m/m). Global output in 2024/25 is projected to be 1 million tons higher m/m, and due to higher carry-ins, inventories are raised by about 3 million tons m/m. Trade is predicted to remain steady m/m, at an all-time peak of 172.2 million tons (+2%).