Grain Highlights 09.07.2021

According to Conab, the wheat production in Brazil will reach 8.48 million tons in 2021 (+36% compared to 2020).

- As of July 8, 2021, 1.53 million hectares of cereals were harvested in Russia, 5,137 million tons were harvested at an average yield of 3.36 tons/hectare. Wheat was harvested on 947,800 hectares, 2.91 million tons of wheat were harvested at an average yield of 3.7 tons/hectare. Barley was harvested on 493,800 hectares, 2.075 million tons were harvested at an average yield of 4.2 tons/hectare.

- Over the period of July 1 - 9, 518,000 tons of cereals were exported from Ukraine. 178,000 tons of wheat (+165,000), 333,000 tons of corn (+171,000) and 3,000 tons of rye (0) were exported. No barley (39,000) was exported. Exports of flour reached 2,500 tons (-2,000).

- As of 09.07.2021, 1.37 million tons of grain have been harvested in Ukraine, including 1.04 million tons of barley and 325,600 tons of wheat at an average yield of 3.93 tons/hectare and 3.15 tons/hectare, respectively. Total grain production is expected to reach 76 million tons (65).

- According to data from FranceAgriMer, as of 05.07.2021 in France, 1% of the soft wheat areas, 10% of the winter barley areas and 1% of the spring barley areas have been harvested.

- Yesterday, commodity funds in Chicago were net sellers of 7,500 contracts of corn, 4,000 contracts of soybeans and 1,500 contracts of wheat.

- In their July forecast, Conab reduced the corn production estimate in Brazil in 2020/21 to 93.385 million tons (-3.2% compared to June and -9% compared to 2019/20). Exports remained unchanged at 29.5 million tons, which is 15.5% less than last season. The ending corn stocks in the country will be at their lowest level for the last five years - 5.466 million tons (-28.6% and -48.5%).

- The Brazilian association Abiove has increased the estimate for the soybean production in 2020/21 to a record 135.9 million tons (+9.8% compared to the previous season).

- According to Conab, the wheat production in Brazil will reach 8.48 million tons in 2021 (+36% compared to 2020). Wheat imports are projected at 6 million tons (-9.1%), which will be the lowest level since 2015.

- According to Oil World, soymeal exports from Argentina reached 15.47 million tons from the beginning of the year to the end of June (13.16 million tons a year ago). In the coming weeks, exports are expected to decline due to a strike in the transport sector and the low water level of the Parana River.

- On 09.07.2021, Algeria bought about 30,000 tons of soft milling wheat of any origin at a price of 288 USD/ton C&F and delivery in July - August.