During the week of March 22-28, 180,780 tons of grains were exported from the Russian port of Novorossiysk, which is 4.1 times more than the previous week and 38% less than the previous year.
According to IHS Markit Agribusiness, corn areas in the United States will reach 38.2 million hectares in 2021/22, which is 1.4 million hectares more than the previous year.
Forward sales of the new corn crop in Ukraine reach 2.5 - 3 million tons, which is well above last year's level. The main reason for this is the high corn prices of 200+ USD/ton.
According to the latest forecast of SovEcon, the wheat production in Russia will reach a total of 79.3 million tons in 2021, which is 3.1 million tons more than the previous estimate.
According to USDA data, the deficit of soil moisture is very high in the US Corn Belt now. In Iowa, air temperatures are very high, there is a strong drought in 10% of the areas and a particularly strong drought in 55%.
During the period March 1-15, 315,000 tons of wheat were exported from Russia and wheat exports are expected to reach a total of 950,000 tons for the whole month.
