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World Trade & Grain Prices, USD Outlook, Export Inspections, Markets & Rain Days Update 03/22/2022

Highlights


India is in the final discussions with Egypt to close an export wheat deal. Egypt’s supply minister said his country has enough wheat reserves to last 3½ months. Jordan’s trade minister says his country has enough wheat and barley to meet their domestic needs for a year. China sold 522,804 mts of government wheat at their March 16th auction at $12.65 per bushel, down 12.7 cents from their March 9th wheat auction.

 

Russian troops in Ukraine areseizing and destroying agricultural machinery, fertilizer, seeds and fuel stocks,according to several farmers in Ukraine.

 

Brazil’s safrinha (second crop) corn received good rains over the weekend in the central part of the country where 76% of the corn is grown. The dry southern areas of Brazil and Argentina are expected to have good rains over the next week, but it will take eight more weeks of above normal rainfall to make a decent corn crop.

The Argentine government extended the State of Emergency for the Parana River for 90 more days. The low water levels at the ports near Rosario are responsible for approximately 85% of the country’s agricultural exports. Ships are being loaded at 70% or less of normal loads on the river.

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