17 November, 2022

World: World grain crop of this year marked by a loss of more than 50 mln tonnes of corn

World grain markets in October were calm and weaker till the end, when Russia threatened to close the Black Sea corridor. A bit surprisingly, they agreed to return into the corridor team, H. M. Gauger GmbH reported earlier in November.

Markets reacted sharply up and down, EU markets were closed at the beginning of the week of Russia’s announcement and thereby escaped much of the turbulence.

The world crop of this year was marked by a loss of more than 50 mln tonnes of corn, in the U.S. and EU. Brazil, on the other hand, harvested record crops of corn and soybeans, Russia a huge wheat crop.

Prospects for the year end and 2023 are impacted by droughts in the U.S. Midwest and in Argentina, bad floodings in eastern Australia and delayed or lost plantings in the Ukraine. In spite of the continuation of shipments through the grain corridor, the war in Ukraine remains a great concern for world crops and trade.

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