By Jeffrey Landsberg
Global grain trade prospects still remain just one of many bullish facets of the dry bulk market. Notable recently is that grain trade forecasts for the current 2021/2022 season have been raised from a month ago and strong year-on-year growth is also still expected. The United States Department of Agriculture recently released their latest forecasts for 2021/22 and is now forecasting that global grain exports will total 499 million tons. This is 1.9 million tons more than was forecast a month ago and would mark a year-on-year increase of 20.7 million tons (4%).
Global coarse grain exports in 2021/22 are now expected to total 249.6 million tons. This is 800,000 tons more than was forecast a month ago and would mark a year-on-year increase of 21.7 million tons (10%).
Global wheat exports are expected to total 199.6 million tons. This is 100,000 tons less than was forecast a month ago and would mark a year-on-year decrease of 1.7 million tons (-1%).
In addition, global soybean exports (soybeans are not technically classified as a grain) are expected to total 173.1 million tons. This is 100,000 tons less than was forecast a month ago but would mark a year-on-year increase of 8.2 million tons (5%).
Global soymeal exports are expected to total 70.5 million tons. This is 100,000 tons less than was forecast a month ago but would mark a year-on-year increase of 1.7 million tons (2%).
