Canada - increased wheat production
Wheat production in Canada is currently projected to increase by 55.1% this year to 34.6 million tonnes, largely attributable to higher yields, which are expected to rise by 41.6% to 51.1 bushels per acre (1.39t/ac), plus a 12.5% increase in the spring wheat area.
New Zealand - milk price falls
Fonterra has revised its 2022/23 forecast farmgate milk price range down by the equivalent of 1c/l to 42c/l.
Argentina - beef exports
Argentina’s beef exports are averaging 72,700t per month this year to July, the second-highest monthly average since 2021, according to latest IPCVA figures.
Eurozone - inflation at 9.1%
Eurostat has announced that inflation in the Eurozone reached 9.1% in August, another new record since the euro was established in 1999, following a then-record 8.9% rate in July.