In the United States, the most serious stockpile of stocks in 30 years was full of "gluten injury to farmers"

In the United States, after 30 years of serious storage crisis, the inventory was full and the "gu è´± injured farmers"

American winter wheat has once again ushered in a particularly bumper harvest during this harvest season, but the country's farmers have complained. Although the crops are harvested, the sales have become a big problem. In the case of full stocks, farmers can only stack new wheat in the parking lot. The sluggish global demand and the appreciation of the dollar have made the export channels of agricultural products significantly hindered.

Since last year, in the context of the beauty of the world, the US food stocks have reached new heights. The stock balance of major stocks of crops, including corn, soybeans, wheat and sorghum, has been high since 1988. As demand slows and output rises, storage space will become more tense. The crop wheat that was first harvested this year is particularly vulnerable to the situation of nowhere to sell. Some growers may dump food in parking lots or on vacant buildings.

Michael O'Dea, risk management consultant at INTL FCStone, said: "This will be a serious storage crisis for wheat trade in the past 30 years, and a lot of food will eventually pile up on the ground."

Although farmers have expanded their storage space in recent years, the overcapacity of global crops and the appreciation of the US dollar have all led to the “gluten injury”. The United States used to be the world's largest wheat exporter. As of Tuesday, its exports fell to a low level since 1972. As stocks rise by 30%, they are expected to rise further and the price outlook will become more pessimistic. Chicago futures plunged for three consecutive years, hitting a low level since 2010 in February this year.

The International Grains Association said on May 26 that excess may only become bigger, global supply, including production and inventories, will surpass historical consumption by the end of this year and is expected to hit a high record in June 2017. .

For many growers, the recession means spending more money on growing wheat. According to analysts at Société Générale, the average price of Chicago wheat futures is $4.52 per bushel in the third quarter, now at $4.855. Kansas State University expects production costs to be $3.90 per bushel to $5.18 per bushel.

The winter wheat harvested in June and July is a crop that has been placed on grain elevators in the Great Plains grain-producing area of ​​the United States. Farmers will also harvest corn and soybeans in September and October. Most of the bins can store different crops as needed, leaving them without any mixing. Stacking grain on a farm is not unusual, but without an impervious floor, walls and covering, it increases the risk of pest and water loss.

Troy Presley, a salesman at Cormac Foods Sales and Marketing Co., said that growers from Texas to Nebraska had a lot of food last year that could at least exceed local storage capacity. 15 percent.

Presley said, "This year, it will be very difficult to find storage space. In at least 10 years, the amount of wheat sold by farmers is much smaller than the total harvest of wheat, which has aggravated the storage crisis."

According to data from the US Department of Agriculture, the storage capacity of more than a dozen different types of cereals and oilseed crops in the country has increased by 22% over the past decade to 24.21 billion bushels. But as of March 1, wheat, corn, sorghum and soybeans harvested and stocked this year totaled 10.9 billion bushels, up 5.6% from the same period last year.

According to government data, the large-scale production of winter wheat, Kansas, is 29% higher than the same period last year. According to the US Department of Agriculture, even before harvest, surplus food occupied 52% of the country's storage capacity, compared with 41% in the same period last year.

(Original title: The wheat harvest in the United States is full, and the farmers whose export is blocked are complaining.)