Global seaborne grain trade prospects for the current 2021/22 season have long remained very bullish, and an even larger amount of exports are now expected. The United States Department of Agriculture has released their latest forecasts for 2021/22 and is now forecasting global grain exports will total 504.2 million tons. This is 5.2 million tons (1%) more than was forecast a month ago and would mark a year-on-year increase of 25.7 million tons (5%). Expectations for global seaborne coarse grain exports remain particularly epic. Global coarse grain exports in 2021/22 are now expected to total 251.4 million tons. This is 1.8 million tons (1%) more than was forecast a month ago and would mark a year-on-year increase of 24.8 million tons (11%).
Global wheat exports are expected to total 203.2 million tons. This is 3.6 million tons (2%) more than was forecast a month ago and would mark a year-on-year increase of 900,000 tons.
In addition, global soybean exports (soybeans are not technically classified as a grain) are expected to total 172.1 million tons. This is 1 million tons (-1%) less than was forecast a month ago but would mark a year-on-year increase of 7.3 million tons (4%).
Global soymeal exports are expected to total 70.9 million tons. This is 400,000 tons (1%) more than was forecast a month ago and would mark a year-on-year increase of 2 million tons (3%).
