Wheat feeding is increasing as wheat and corn are near parity in some markets. In its 2025/26 June WASDE report, the USDA is projecting China’s feed use for wheat unchanged from 2024/25 at 33 million tons. Plotted below is the price spread between wheat and corn compared to each marketing year’s estimate for wheat feeding.… Continue reading Will feed use of wheat be higher in 2025/26?
Category: Research
Fertilizer industry struggles with oversupply as Customs tightens export controls
Urea prices continue to fall with Zhengzhou Commodity Exchange futures trading into new multi-year lows on Tuesday and down 22% year on year, the most of any agricultural-related commodity tracked in the Futures Recap table. Cash prices also continue lower with most markets now below 1600 yuan per ton. Production remains relatively high with last… Continue reading Fertilizer industry struggles with oversupply as Customs tightens export controls