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.
According to the Buenos Aires Grain Exchange, the corn harvesting campaign has begun in Argentina. As of 03.03.2021, 120,300 hectares out of a total of 6.3 million hectares have been harvested. 752,000 tons of corn have been harvested at an average yield of 6.26 tons/hectare.
The Ministry of Agriculture of Ukraine projects the new total grain production in 2021 at 75 million tons compared to the current record of 75.1 million tons achieved back in 2019.
According to the FAS USDA forecast, in 2020/21 the soybean production in Argentina will reach 47.5 million tons, which is 2.5 million tons less than the previous estimate and 0.5 million tons less than the official forecast of the USDA.
