- According to the forecast of SovEcon, world grain prices could reach 400 USD/ton given the situation in Ukraine. This will happen if the current grain stocks of both countries do not reach the international markets. Now Ukraine has an export potential of 6 million tons of wheat and an export potential of 13 - 14 million tons of corn, and Russia 7 - 7.5 million tons of wheat and 1 - 2 million tons of corn. This results in a total export potential of 13 to 13.5 million tons of wheat and corn 14 - 16 million tons for both countries.
- Over the week of March 2-8, the export tax on Russian wheat will decrease to 88.2 USD/ton (91 weeks earlier). The export tax on barley will be 72.3 USD/ton (73.3) and the export tax on corn will increase to 52.7 USD/ton (52.2).
- According to APC - Inform, 5.6 million tons of sunseed was processed in Ukraine over the period September - December, which is 6% less than the previous year. Given the complex situation in the southern parts of Ukraine, where most processing plants are located, we can expect a high level of ending sunseed stocks in the country.
- The activity of almost all Black Sea ports in Ukraine has been suspended.
- Bunge temporarily closed its office in Ukraine and its two oil refineries in the country.
- The European Commission has raised its forecast for corn production in the EU in 2022 by 3.5 million tons to 72.5 million tons, which is 7% more than 2021/22 (68 million tons). Corn exports are projected at 6 million tons (+1 and 3.7) and corn imports are estimated at 14.5 million tons. Consumption of corn in the EU will reach 81.5 million tons (+2%) and ending corn stocks are expected at 19.8 million tons (+2.5 and 20.3).
- According to FranceAgriMer, as of 21 February 2002, 92% of winter wheat crops (95% a week earlier and 87% a year earlier) and 92% winter barley crop were in good and excellent condition in France (94% and 83%). 28% of the planned areas have been sown with spring barley (+11% for the week and 18%).
- Government analysts in the United States expect the soybean production in the country to reach 122.5 million tons in 2022/23. The average soybean yield is estimated at 51.5 bushels/acre and soybean areas are expected to reach 88 million acres. Soybean exports will be 51.5 million tons.