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 has released their latest forecasts for 2021/22 and is now forecasting that global grain exports will total 497.1 million tons. This is 6.1 million tons (1%) more than was forecast just 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 248.8 million tons. This is 3.7 million tons (2%) more than was forecast a month ago and would mark a year-on-year increase of 20.4 million tons (9%).
Global wheat exports are expected to total 199.7 million tons. This is 1.5 million tons (1%) more than was forecast a month ago and would mark a year-on-year increase of 100,000 tons.
In addition, global soybean exports (soybeans are not technically classified as a grain) are expected to total 173.2 million tons. This is 900,000 tons (1%) more than was forecast a month ago and would mark a year-on-year increase of 7.4 million tons (4%).
Global soymeal exports are expected to total 70.6 million tons. This is 400,000 tons (1%) more than was forecast a month ago and would mark a year-on-year increase of 1.2 million tons (2%).
