Ukraine exports slashed, ending stocks neutral to slightly bearish
소맥
보리
게시됨 2022년 3월 10일
Tridge 요약
In its March global and domestic supply and demand report, USDA factored in the war in Ukraine by slashing exports from the country, even as Ukraine implemented its own ban on exports on Wednesday. Just hours before USDA released its World Agricultural Supply and Demand Estimates (WASDE) report, Ukraine announced an export ban on wheat, corn, sunflower oil, oats, rye, barley, sugar and cattle.
원본 콘텐츠
In a note, USDA stated “Russia’s recent military action in Ukraine significantly increased the uncertainty of agricultural supply and demand conditions in the region and globally. The March WASDE represents an initial assessment of the short-term impacts as a result of this action.” With that, USDA lowered Ukraine’s wheat exports by 4 million metric tons (mmt) to 20 mmt. Russia’s wheat exports are reduced 3 mmt to 32 mmt “as vessel transportation is expected be constrained by the conflict and the imposition of economic sanctions.” USDA also lowered Ukraine’s wheat exports 5 mmt to 27.5 mmt. Sizeable cuts to Brazil and Argentina soybean production for the 2021-22 season as drought reduced the size of the crop. Brazilian growers are now forecast to harvest 127 mmt, down from USDA’s previous forecast of 134 mmt. Out of Argentina, USDA expects production of 43.5 mmt, 1.5 mmt lower than it forecast in February. USDA left Brazilian corn production unchanged at 114 mmt, while lowering ...