Australia – beef production forecast to fall sharply next season

Abares, the government statistics agency in Australia, is forecasting a sharp drop in the country’s beef production next year. Figures released by Abares this week estimates Australian beef production will drop more than 12% next year to just over 2m tonnes.

Russia – wheat production estimate lowered

The forecast for Russian wheat production this season has been lowered this week to 78m tonnes, as high temperatures are reducing soil moisture and hurting crops. Prior to this heatwave, Russian wheat production had been forecast at more than 80m tonnes.

US – corn sowings almost complete

The US Department of Agriculture (USDA) estimates that 96% of all corn (maize) sowings are now complete in the US. However, weather conditions remain very poor in the US corn belt and the condition of corn already in the ground is deteriorating.

Argentina – beef exports continue to soar

The growth in Argentina’s beef exports is showing no signs of slowing. For the first five months of 2019 (Jan-May), Argentina has shipped more than 169,000t of beef to world markets, which is 36% ahead of the same period last year.