USGC REPORT SHOWS IMPROVED CORN CROP
US corn samples tested for the USGC 2023-24 Corn Export Cargo Quality Report revealed a crop that withstood challenging weather conditions to emerge with an average aggregate quality better than or equal to US No. 2 on all grade factors, an improvement on the five-year average, the USGC said. The report released this week is based on 433 yellow commodity corn samples collected from export shipments as they underwent inspection and grading processes performed by the Federal Grain Inspection Service or other licensed inspectors. Chemical analysis indicated an 8.9% protein concentration, up from 8.7% last year and above the five-year average. All samples tested below the US Food and Drug Administration action level for aflatoxins and deoxynivalenol.
(Link: WorldGrain)
BANGLADESH FEED DEMAND RISING
Despite economic challenges and high feed prices, demand for feed is expected to grow in Bangladesh as large commercial poultry farms expand their operations, according to a report from FAS. The growth has been undeterred by inflation, the depreciation of Bangladesh’s currency (taka) and depletion of its foreign currency reserves. According to Bangladesh’s feed industry, in 2022, total livestock feed production was 6.6 million tonnes. Feed production is projected to hit 10 million tonnes by 2030. Soybean meal consumption in Bangladesh’s feed industry in the 2024-25 marketing year is expected to reach 2.65 million tonnes, a 150,000-tonne increase from the previous year.
With demand for soybean meal rising, the FAS forecasts an increase in soybean and soybean meal imports in the 2024-25 marketing year. The agency sees soybean imports rising to 2 million tonnes, up from 1.8 million in 2023-24, while soybean meal imports are projected to increase 50,000 tonnes, to 1 million. Domestic soybean production in 2024-25 is pegged at 150,000 tonnes, a slight increase over the previous year. Meanwhile, production of another oilseed — rapeseed — has been soaring in recent years in Bangladesh, and the FAS anticipates the 2024-25 crop to approach last year’s record harvest of 1.5 million tonnes.
(Link: WorldGrain)
