Starting from 01.04.2021, Russia introduces an export tax on wheat at the amount of 70% of the difference between a base price of wheat per ton and 200 USD/ton.
According to the forecast of S&P Global Platts, the wheat production in the EU+UK will reach 147 million tons in 2021/22, which is 8% more than the previous season.
Due to less rainfall, Buenos Aires Grain Exchange has lowered its forecast for the soybean production in Argentina by 0.5 million tons to a total of 46 million tons (49 million tons in 2019/20).
As of Jan 27, 2021, 72 ships are waiting to be loaded in the ports of Rostov-on-Don. Everyone is in a hurry to export before the implementation of the export tax on wheat on 15.02.2021.
The Ministry of Agriculture of Ukraine and grain traders have agreed that the export of corn from Ukraine will be a maximum of 24 million tons in 2020/21.
