Market Monitor No.100July2022 Thewheatharvestisunderwayinthenorth- Contents ernhemisphere,withhotanddryconditions impedingwinterwheatyieldsinseveralmajor producingregions,whichfurthercon?rman expecteddeclineinglobalwheatproduction in 2022. While maize production prospects improvedthismonth,globalmaizeoutputis also forecast to fall below last year's level. Against this background, and with exports from Ukraine still largely constrained, inter- national wheat and maize markets are ex- pected to stay tight. This means prices will remainvolatileandcontinuetobehighlysen- sitive to daily news on crop development, weather conditions and policy changes. By contrast, global rice production prospects appearstrongdespitehighinputpriceswhile soybeanoutputcouldhitanewrecord. Featurearticle: WTOMC12chartsanewway forward 2 3 Worldsupply-demandoutlook Cropmonitor 5 Policydevelopments Internationalprices Futuresmarkets 8 10 12 13 15 16 17 Marketindicators Fertilizeroutlook Oceanfreightmarkets Explanatorynotes Marketsataglance FROM FROM PREVIOUS SEASON Easing Neutral Tightening PREVIOUS FORECASTS WHEAT MAIZE RICE SOYBEANS The Market Monitor is a product of the Agricultural Market Information Syste