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Futures Close 23/02/22

Ukraine – spring planting area could be more than halved to circa 7m hectares due to the impact of the ongoing war –given that the ongoing conflict will continue to restrict any export potential from Black Sea ports, any production in Ukraine will mainly see domestic use.

EU commission put Soft Wheat exports so far for 21/22 season at 19.62 million tonnes by 20th March – slightly behind last years export pace.  For the same period EU Maize imports were at 11.87mt 300k tonnes behind last years pace of 11.9mt.