Russian grain production is expected to increase this year, with some lower acreage. Currently they are producing about 10 myn mt more than domestic consumption….even with poor fall weather (dry seeding conditions) and cold winter weather. It is a drag on the market. China’s winter wheat is also looking worse than normal, but they are also calling production up 2.2%. Brazil is considering forming a state-run fertilizer company…Bangladesh is expected to book up to 11 myn bu more Black Sea wheat for April-June TOS. Iraq says that they expect to import about the same amount next year as this year (3 myn mt, or about 110 myn bu).

***Didja Know: It is estimated that 14% of the world’s grain crops are GMO. The US produces 48% of the world’s GMO crops or about 158 myn total acres. The countries showing the biggest growth: China. Brazil and Argie are still increasing in GMO use. The EU is the only area of the world overall is showing a decline, partly because Germany has totally banned any GMO crops.