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Mumbai, April 26 (Commoditiescontrol): As the new season approaches, EU and UK farmers are gearing up for what is expected to be a bumper wheat harvest. The EU is anticipating a heavy wheat balance next season, with large carry-in stocks from Ukrainian grain imports and a forecasted surplus of crops. Meanwhile, wheat carry-in stocks in the UK are projected to be the largest since 2016/17. However, this could pressure domestic harvest prices, and there are concerns over when stored old-crop wheat will be sold.
Despite the longer-term bearish price outlook due to ample global grain supply, farmers will need to keep an eye on key watchpoints, including demand and weather conditions. In addition, the ongoing war in Ukraine and the renewal of the Black Sea Initiative are potential factors that could affect prices.
In the rapeseed market, the EU and the US are expected to be well supplied next season, with a bigger crop due in the EU. In the UK, there has been an increase in the forecasted area for harvest 2023, although development has been variable, and some failed rapeseed areas have been reseeded to spring crops such as barley.
Like with grains, there are watchpoints for price direction, with demand and the ongoing conflict in Ukraine being major factors. While northern hemisphere oilseed supply is looking boosted for the upcoming season, the sentiment in rapeseed markets is more bearish.
In a recent webinar, experts discussed farmers' challenges in managing input costs and margins. With margins expected to be squeezed for harvest 2023 and input costs remaining high, farmers must focus on managing risk through farm performance.
(By Commoditiescontrol Bureau: +91-9820130172)
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