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NWS: Warm spring, varied precip outlook
The current surge in Brazilian wheat exports might encourage farmers to expand their wheat acreage, according to some agricultural consultants.
Black Sea ag markets research firm SovEcon reduced its Ukraine grain production forecasts based on the Russian invasion and weather conditions.
India’s government is expected to announce several actions in the coming weeks to help it replace global wheat supplies, according to government sources Reuters reported.
April live cattle rose 52.5 cents to $140.85, the contract’s highest closing price since $141.425 on Feb. 28. April feeders edged up 20 cents to $162.60.
Russia attacks Ukraine’s agriculture infrastructure
Only 4.7 million hectares of spring grain will likely be planted in Ukraine this year, down 39% from last year, according to Black Sea ag consultancy APK-Inform.
Russia has not banned grain exports yet
Ukraine President Volodymyr Zelenskyy is urging farmers to sow as many fields as possible to protect the food supply.
Brazil announced a national fertilizer plan to reduce imports by 40% by 2050.