Ukraine exports slashed, ending stocks neutral to slightly bearish

Published 2022년 3월 9일

Tridge summary

The USDA's March global and domestic supply and demand report reflects the impact of the Ukraine conflict, slashing exports from Ukraine and Russia. The report also reduces soybean production in Brazil and Argentina due to drought. Beef production has increased, while pork production has declined due to slower processing speeds and lighter carcass weights. Livestock prices have surged, with beef imports and exports increasing, while pork imports have grown and exports have decreased due to cheaper foreign pork prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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. 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. ...

Source: Agfax