Grain Highlights 21.06.2021

Over the week, the export prices of Ukrainian rapeseed from the new crop with delivery within July - August fell by 60 USD/ton to 595 - 605 USD/ton FOB.

- In May, China imported 9.23 million tons of soybeans from Brazil (5.08 million tons in April and 8.86 million tons in May 2019). 244,400 tons of soybeans were delivered from the United States (2.15 million tons and -50%). In the first 5 months of the year, 15.66 million tons of Brazilian soybeans were imported to China (22.04) and 21.53 million tons of soybeans were imported to China from the United States (8.97).

- According to Imea data, as of June 17, 2021, 1.9% of the corn areas have been harvested in the Brazilian state of Mato Grosso compared to 8.3% a year earlier. The delay is due to the late harvesting campaign of soybeans. Last week, corn price in the state fell by 1.3% to 248 USD/ton and farmers have already sold 77% of their future crop.

- On Friday, commodity funds in Chicago were net sellers of 30,000 contracts of corn, 30,000 contracts of soybeans and 15,000 contracts of wheat.

- In the first half of June, 1.13 million tons of grain were exported from Russia, including 1.09 million tons of wheat. Grain exports are at a record level for this time of year. If this trend continues until the end of the month, total grain exports will reach 2.7 million tons, including 2.4 million tons of wheat. The second best result was achieved back in June 2018 (2.15 million tons).

- In June, 28,000 tons of wheat were exported from Russia to Algeria, which is the first export for the last five years when 113,000 tons of grain were delivered.

- Over the week, the export prices of Ukrainian rapeseed from the new crop with delivery within July - August fell by 60 USD/ton to 595 - 605 USD/ton FOB. The sunseed price has dropped by 10 USD/ton to 690 - 700 USD/ton FOB with delivery over the period of June - July.

- As of June 17, 2021, 1.39 million hectares of soybeans have been sown in Ukraine. The total soybean areas is expected to reach 1.4 million hectares. 6.5 million hectares were sown with sunseed compared to 6.383 million hectares in 2020.