Grain Highlights 09.06.2021

On 08.06.2021, Algeria purchased 480,000 tons of soft milling wheat of any origin at a price of 297.5 - 298 USD/ton and delivery within July - August.

- Yesterday, commodity funds in Chicago were net buyers of 12,750 contracts of corn, 12,000 contracts of soybeans and 2,750 contracts of wheat.

- In the first working week of June, only 711 tons of corn were exported from Brazil, which is 611 tons less than the previous week.

- According to data from the Ministry of Agriculture of Argentina, local farmers have sold 20.9 million tons of soybeans compared to 24.4 million tons a year earlier. Corn sales reached 29.7 million tons (+3 million tons).

- Tunisia has announced a tender for the purchase of 50,000 tons of soft wheat of any origin and delivery in July.

- Egypt's state-owned company GASC has purchased 60,000 tons of soyoil at a price of 1,300 USD/ton CFR, which is 44 USD/ton more than the price at the previous tender. 40,000 tons of sunseed oil was also purchased at a price of 1,368 USD/ton, which is 222 USD/ton less than the price from the previous tender held on 11.05.2021.

- Yesterday, palm oil prices in Malaysia fell due to the growth of stocks by 6.3% to 1.64 million tons and the production growth of 3.4% to 1.58 million tons in May. Given the reduced palm oil demand for June, a new increase in stocks is expected.

- Ethiopia has announced a tender for the purchase of 400,000 tons of milled wheat.

- Jordan has announced a tender for the purchase of 60,000 tons of milling wheat of any origin and delivery in December.