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.
According to the latest estimate of Aprosoja, the soybean production in Brazil will reach 128.57 million tons in 2020/21 compared to 124.84 million tons in 2019/20.
According to data from the Buenos Aires Grain Exchange, there was no significant rainfall in Argentina during the week of March 4-10. Analysts have lowered their forecast for the soybean production by 2 million tons to 44 million tons.
According to Anec's forecast, 15.5 million tons of soybeans will be exported from Brazil in March, compared to 13.75 million tons in the previous estimate.
According to Rusagrotrans forecast, 1.7-1.9 million tons of grain will be exported from Russia in March compared to the previous estimate of 1.4-1.6 million tons.
During the week of March 1 - 7, 307,314 tons of Russian grain were exported from the Russian port of Novorossiysk, which is 31.8% less than the previous week and 39.7% less than the previous year.
