Grain Highlights 10.06.2021

Analysts project the sunseed production in Ukraine in 2021 within the range of 17 - 17.5 million tons compared to 13.1 million tons in 2020.

- According to ICAR's forecast, the sunseed production in Russia will reach 16.1 million tons in 2021.

- Analysts project the sunseed production in Ukraine in 2021 within the range of 17 - 17.5 million tons compared to 13.1 million tons in 2020. As of 08.06.2021, 9 million hectares have been sown with sunseed. Sunseed areas in 2020 were 8.2 million hectares. The sowing campaign continues and sunseed areas will probably reach 9.3 - 9.5 million tons.

- Strategie Grains has raised its forecast for the EU soft wheat production in 2021 to 131.1 million tons from 129.6 million tons in the previous estimate (9.8% higher than in 2020). Wheat exports in 2021/22 will be 28.6 million tons (+5.9% and +6.3%). The barley production will be 53.9 million tons (+300,000 tons) and corn production is estimated at 65.3 million tons (+100,000 tons).

- In 2021, the rapeseed production in France will reach 2.95 million tons, which is the lowest level since 2001. Rapeseed areas decreased by 12% compared to 2020. Wheat areas increased by 15% to 4.9 million hectares, corn areas decreased by 11% to 1.5 million hectares and barley areas decreased by 8% to 1.8 million hectares.

- In its June forecast, analysts from FranceAgrimer have raised their forecast for feed barley exports of France in 2020/21 to 5.745 million tons, which is 26.9% less than 2019/20. Exports of soft wheat were slightly increased to 13.557 million tons (-35.4%).

- Yesterday, commodity funds in Chicago were net buyers of 9,500 corn contracts and net sellers of 11,000 soybean contracts and 3,000 wheat contracts.

- Safras & Mercado raise their forecast for soybean exports from Brazil in 2021 from 83 million tons to 86 million tons. Soybean crush in the country is projected to reach 46.7 million tons (-0.2 million tons compared to 2020).

- Tunisia bought 50,000 tons of soft wheat of any origin at a price of 297.75 USD/ton C&F and delivery in July.

- India has sold up to 400,000 tons of corn to countries such as Vietnam, Malaysia, Sri Lanka and Bangladesh with deliveries within the period of June - July. The price of Indian corn is 295 - 300 USD/ton C&F and corn price in South Africa is 330 USD/ton. Exports are expected to reach 2.6 million tons in 2021, which will be the highest level for the last 7 years. Over the period of January-May, 900,000 tons of corn have been exported (136,500 tons a year earlier).