Stocks of world wheat exporters are the lowest since 2012

Such data in the March report on wheat is given by the Economic Research Service (ERS) of the US Department of Agriculture, World of NAN reports referring to agroxxi.ru.

Grain markets are in constant motion, with U.S. wheat trading at its most expensive price. Experts said that wheat prices around the world are rising because of international conflicts.

"Prior to these events, wheat prices were already up due to relatively tight supplies in key exporting countries. End stocks of the major exporters (Argentina, Australia, Canada, the European Union, Kazakhstan, Russia, Ukraine and the United States) are collectively projected to be the lowest since 2012/13. Prices are rising the more analysts draw divergent conclusions about the ability of Russia and Ukraine to continue exporting," states the report.

"As for U.S. wheat exports, given historically high and volatile global wheat prices, importers are expected to ration demand, at least deferring some purchases. It is also possible that some buyers will eventually turn to U.S. wheat when other exporters do not have sufficient stocks. Nevertheless, the current large premium on the price of U.S. wheat over other key competitors, such as Australia or India, makes it less likely that there will be a significant turn toward U.S. wheat in the near term. Weighing these considerations, the U.S. export forecast was lowered by 10 million bushels of wheat to 800 million bushels this month, which would be the lowest U.S. exports since 2015/16," ERS analysts wrote.

In another March 2022 Feed Forecast report, ERS experts noted that "a sharp decline in Ukrainian corn exports is bound to cause significant changes in global corn markets. This reduction is expected to be partially offset by an increase in exports by other major corn suppliers." At the same time, U.S. analysts forecast the largest increase in corn exports for the United States, by 2.0 million tons. However, this increase is not projected to offset all of the loss of Black corn exports and a decline in global corn trade is expected.

Washington Post columnist Anthony Faiola pointed out that "many countries from Hungary to Indonesia have shut the door on grain and oil exports, leaving agricultural products for domestic consumption, which could exacerbate global supply and price problems" and cited an FAO preliminary estimate that due to current events, 20 to 30 percent of wheat, corn and sunflowers will either not be planted or will remain unharvested during the 2022-2023 season in Ukraine.

"Critically, Russia is also a major exporter of fertilizer, the price of which is already skyrocketing. Significant disruptions to Russian exports could lead to even greater price spikes, raising the cost of food production worldwide," Faiola writes.

Смотрите больше интересных агроновостей Казахстана на нашем канале telegram, узнавайте о важных событиях в facebook и подписывайтесь на youtube канал и instagram.