During the spring planting season that starts in April, growers will cut their corn acreage for a second straight year to 35.2 million hectares, according to the median of estimates from four responses to the poll.
That is 4.1 percent lower than the 36.7 million hectares that China’s National Bureau of Statistics (NBS) reported planted during the last crop year.
A new estimate released by Regional Consortium of Agricultural Experiments of Argentina (CREA) says that Brazil would demand imports of nearly 6.6 million metric tons of wheat this year.
The influential analysis group raised by 1m tonnes to 20m tonnes its forecast for Ukraine’s corn exports in 2017-18, taking them above the 19m tonnes expected for this season.
The upgrade reflected a 700,000-tonne increase to 26.2m tonnes in the estimate for the country’s corn production this year
Russia and Turkey will hold consultations within two weeks to prepare the schedule for lifting individual trade restriction
Russia expects the Turkish partners to lift restrictions on grain supplies that were introduced this year. That is according to a statement published on the website of the government of the Russian Federation following the meeting of Deputy Prime Minister Arkady Dvorkovich and Deputy Prime Minister of Turkey Mehmet Shimshek.
A fertilizer shortage and dry weather may reduce Ukraine’s wheat crop by the most in five years.
Researcher UkrAgroConsult predicts the 2017-18 crop may fall about 7 percent to 24.2 million metric tons and Nibulon SA trader Volodymyr Slavinsky said it could drop to as low as 23 million tons if conditions don’t improve.
The USDA’s bureau in Moscow forecast Russian wheat exports at 28.0m tonnes in 2017-18, up 1.5m tonnes year-on-year, although missing a forecast by the International Grain Council by 2.2m tonnes.
Russian wheat production is expected to fall by 6.5m tonnes, to 66.0m tonnes, 1.0m tonnes below a forecast from the International Grain Council.
The USDA and local projects put the Paraguayan output at 10.1 million metric tons and consolidating its position as the fourth largest exporter of the oilseed in the world.
In a story for the Brazilian online newspaper Gazeta do Povo, some describe the crop as “perfect”. Paraguayan soybean yields are higher than those of Brazil.
Last week milling wheat prices in Russia’s export market continued sinking. On average, export prices for Russian milling wheat closed the week down another $1-2 at $187‑189/MT FOB for wheat with 12.5% protein and $182‑184/MT FOB for 11.5% wheat in the Novorossiysk port for April-May delivery, reports UkrAgroConsult.
Since the beginning of March, Russian milling wheat price has lost an average $6-7/MT in the export market.