Russian analytics firm Sovecon cut its estimate of 2020/21 Russian wheat exports by 200t, to 38.9Mt.
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The first US Department of Agriculture (USDA) crop planting report of the year was released this week, showing that 2% of the country’s anticipated maize area had been planted.
The 2021 US maize area is expected to reach 36.9 million ha (Mha), 2.2% below trade expectations. In addition, US stocks of maize at the beginning of March sat at 195.6 million tonne (Mt), 1.7Mt tighter than trade expectations.
As a result, global grain markets ended strong last week. The bullish signals for maize were enough to outweigh the bearish wheat news.
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The first US Department of Agriculture (USDA) crop planting report of the year was released this week, showing that 2% of the country’s anticipated maize area had been planted.
The 2021 US maize area is expected to reach 36.9 million ha (Mha), 2.2% below trade expectations. In addition, US stocks of maize at the beginning of March sat at 195.6 million tonne (Mt), 1.7Mt tighter than trade expectations.
As a result, global grain markets ended strong last week. The bullish signals for maize were enough to outweigh the bearish wheat news.
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