Grain Highlights 02.07.2021

According to data from the Ministry of Agriculture of Bulgaria, the wheat production in the country will be 5.7 - 5.8 million tons in 2021 compared to 4.7 million tons in 2020.

- In the first five months of 2021, vegoil production in Russia decreased by 11% compared to the previous year to 3.99 million tons, including sunseed oil production of 2.38 million tons (-14%).

- In 2020/21, 48.8 million tons of cereals and oilseeds were exported from Ukraine with a total production of 84.2 million tons. Exports of wheat are 16.5 million tons, barley exports reached 4.2 million tons and corn exports were 23.5 million tons. In 2021, the total production will be over 100 million tons.

- Over the period of January - May, the production of refined sunseed oil in Ukraine reached 283,540 tons.

- Over the period of January - May, 428,390 tons of soybeans were exported from Ukraine (-45.55%). The main buyers were Turkey with a share of 27%, Belarus with 17% and Italy with 14%.

- In 2020/21, barley exports from Kazakhstan reached 900,000 tons compared to the previously forecasted 950,000 tons.

- StoneX lowered its forecast for the corn production in Brazil in 2020/21 to 87.93 million tons from 89.69 million tons in the previous estimate. The second corn production in Brazil is projected at 60.45 million tons (62).

- According to data from the Buenos Aires Grain Exchange, as of 01.06.2021, 5.46 million hectares were sown with wheat in Argentina, which is 84.1% of the planned areas (+13.2% for the week). After the recent rainfall, 56% of the wheat crops are in good and excellent condition (55% and 21%) . 51.6% of the corn crops were harvested (+4% for the week) and 25.86 million tons were harvested with an average yield of 8.11 tons/hectare.

- In the week of June 18-24, China bought 1.18 million tons of soybeans from the new crop from the United States. Purchases are stimulated by the fall in the price of soybeans. Brazilian soy is now cheaper but that will change in October.

- According to Oil World, canola exports from Australia reached 443,000 tons in May compared to 450,000 tons in April and 165,000 tons in May 2020. 344,000 tons of canola were exported to the EU, 65,000 tons to Bangladesh and 21,000 tons to Nepal. Since the beginning of the season, exports have reached a total of 2.9 million tons (1.48) which is the highest level for the last 4 years.

- In the first nine months of 2020/21, soybean imports to Turkey reached 1.36 million tons, including 1.14 million tons  from Brazil and 515,000 tons from Ukraine. Imports of soymeal reached 383,000 tons, including 279,000 tons from Argentina, 43,000 tons from Brazil and 40,000 tons from Bolivia.

- Bangladesh has announced a tender for the purchase of 50,000 tons of wheat of any origin.