WHEAT 2022 production forecast raised m/m, largely on better prospects in Australia, the EU, and especially the Russian Federation, and now pointing to a new record high.

Kazakhstan has formally suspended its wheat and wheat flour export quotas as of Sept. 13, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture. Since the restrictions went into effect on April 14, Kazakhstani exporters utilized 83% of the wheat and 66% of the wheat flour export quotas, which were meant to balance exports with domestic food security needs. On June 15, Kazakhstan announced the extension of wheat and wheat flour export quotas until Sept. 30 and increased the exportable amounts to 1.55 million tonnes of wheat and 670,000 tonnes of wheat flour.

World wheat prices continued to decline for the third consecutive month in August. The European Union (France, grade 1) export prices fell by 4 percent month on month, reflecting greater seasonal availability from the ongoing harvest and increased availability from Ukraine with the re-opening of three Black Sea ports. Argentina’s (Up River, f.o.b.) and Australia’s (Eastern States, ASW) quotations also declined by 4 and 7 percent, respectively, in August.

According to the July forecasts of the Central Statistical Bureau, in 2022 the total grain harvest is projected at more than 3 million tons. The total grain yield is expected to be 3.1% or 92,000 tons more than in 2021. An increase is predicted for spring wheat, spring barley, winter barley, and oats. Early forecasts show that winter wheat production will be 9% or 186 thousand tons less than in 2021.

HB4 wheat received the green light from the national government. This benefits Bioceres, a company of associated producers that generates biotech innovation. HB4 was developed in public laboratories and funded by Bioceres. On the government level, regulators from different ministries were involved.