Wheat might be affected by the dryness in Russia

Wheat might be affected by the dryness in Russia

Farmers from Russia have been sowing winter wheat into dry soil this year, increasing risks for the 2020-21 crop, said a report on Nov. 17.

One of the world’s largest grain exporters, Russia is estimated to have planted 19.1 million hectares of grain, up from 18.1 million hectares at the same time a year ago.

“Despite some improvement in recent weeks, plants are still in a bad shape overall,” Sovecon agriculture consultancy. “A lot will depend on how harsh this winter in Russia will be and how much precipitation we will see.”

Conditions for wheat plantings are particularly poor in part of Volgograd, Stavropol, and nearby regions of Russia, despite some improvement seen in recent weeks, analysts told.

The situation is also complicated by the lack of moisture in the subsoil levels in several key regions, which means higher risks for both winter and spring grains in 2021.

The share of sowings in bad condition, which Russian officials usually estimate and release in late November, is likely to be close to a record high, Dmitry Rylko, the head of the IKAR consultancy, told Reuters.

In 2019-20, Russia produced 73.6 million tons of wheat, exporting nearly half of that total. It ranked fourth in output behind China, the European Union (EU), and India and second in exports behind the EU.

The wheat from Russia won’t be the only one affected

At the beginning of November, a GAIN report from the USDA said that weather issues negatively impacted the expected wheat output of Argentina for the 2020-21 marketing year.

The USDA expects wheat production in Argentina to fall to 17.4 million tons for the 2020-21 marketing year due to dry La Niña weather conditions, which are expected to cause losses for the next few months.

Wheat exports for the 2019-20 marketing are expected to close in November at 13.1 million tons, including flour.

The country’s corn production is projected to slip 48 million tons in the 2020-21 marketing year due to a reduction of planted area and yield. With a smaller corn crop expected, the USDA anticipates a decrease in exports of the commodity to 33 million tons.

Singapore the world’s number one marine shipping center

According to the development index from the Xinhua-Baltic International Maritime Transport Center, Singapore established as the world’s largest marine shipping center for the seventh consecutive year, followed by London and Shanghai.

Singapore once again leads the logistics sector this year after positioning as the world’s leading marine shipping center.

So its confirm by a report from the Development Index of the Xinhua-Baltic International Maritime Transport Center published on July 11 by the Baltic Exchange in collaboration with the Chinese state news agency, Xinhua.

The index provides an independent ranking of the performance of the world’s largest cities offering port business and marine shipping services.

Why is this?

According to the index, its due to its geographic location advantages, the shipping industry, and government support policies.

The executive director of the Singapore Maritime and Port Authority, Quah Ley Hoon, described the news as positive and reiterated his commitment to remain leader of this list.

¨”We are committed with our shipping companies, industrial partners and unions, and we’ll endeavor to maintain our position as a leading international maritime center and as a world central port” he said.

What other countries are in the ISCD Index?

On the other hand, high-end financial, insurance and legal services for marine shipping give London second place in the index.

While Shanghai rose to third place as it’s considered the largest port in terms of container traffic, due to the constant improvements they implement in port facilities.

Hong Kong drop to fourth place due to declining freight performance and falling rankings compared to other places in areas like ship brokerage, insurance, and legal services.

Meanwhile, Dubai remained fifth for the third year in a row as the preeminent marine shipping center in the Middle East.