Miller Magazine Issue 137 May 2021

96 Country Profile MILLER / may 2021 COSMIC PRICES During the whole history of Ukraine, there were four price jumps: 2008, 2011, 2013 and 2014 years. But if you compare the production figures and prices, exactly this time it looks contradictory: both for Ukrainian and world markets. Most ana- lysts are foreseeing world wheat and corn crops 2021/22 to beat new records. Thus, it is demand, which drives prices crazy. So far, wheat crop 2021/22 is expected to increase in the major producing countries. Due to favorable weather conditions, in April report, SovEcon raised its forecast of wheat harvest in Russia by 1.4 MMT per month - up to 80.7 MMT, which is the third largest figure for the country after a record 85.3 MMT last year (-4.6 MMT y/y). In the EU, Strat- egie Grains analysts expect the soft wheat harvest to re- cover after last year's drought to nearly 130 MMT (+10 MMT per year). In Ukraine, the Ministry of Economy predicts a harvest of 29-30 MMT against (+5 MMT per year). IGC an- alysts predict the 2021 US wheat harvest at 51.1 MMT (+1.4 MMT per year). How USDA will process and combine all above figures, we will see in their report on 12 May 2021.