Grain Highlights 29.07.2021

Due to the drought in North Dakota, spring wheat yields will drop to 24.6 bushels/acre (40.8 in 2020 and 42.4 on average over the last 5 years).

- The Ministry of Agriculture of Russia kept its forecast for the grain production in the country in 2021 unchanged at the level of 127.4 million tons, including wheat production of 81 million tons.

- In Romania, wheat, barley and rapeseed areas have been harvested on 60-90% of the areas. The average wheat yield is at the level of 5.4 tons/hectare and the wheat production is expected to reach the historically high 11 million tons.

- The Ministry of Agriculture of Moldova expects a corn production of 2 million tons in 2021.

- The Union of Farmers in Kazakhstan has lowered the forecast for the average soft wheat yield in the country to 0.88 tons/hectare (1 ton/hectare a year earlier).

- Over the period of July 2020 - May 2021, the export of rapeseed meal from Germany reached almost 2 million tons, which is 17% more than the previous year.

- Due to the drought in North Dakota, spring wheat yields will drop to 24.6 bushels/acre (40.8 in 2020 and 42.4 on average over the last 5 years).

- According to the latest forecast of Oil World, the rapeseed production in Canada will reach 16.9 million tons in 2021 (-1.7 million tons compared to the previous estimate and -2 million tons compared to 2020).

- Last week, Argentine farmers sold 747,600 tons of 2020/21 soybean crop. Thus, soybean sales from the beginning of the season up until 21.07.2021 totaled 25.8 million tons (27.9 million tons a year earlier). Corn sales were 34.6 million tons (+3 million tons). The Buenos Aires Grain Exchange expects a production of 48 million tons, which has already been harvested on 72.2% of the area.

- Due to the drought, the barley production in Turkey will fall to 4 million tons from 7.5 million tons in 2020. Wheat production in Turkey is projected at 15.5 million tons (18), including durum wheat production of 2.5 million tons (3.5).

- In May, 2.95 million tons of palm oil were exported from Indonesia, which is a record achievement. The largest customers were Pakistan with 265,500 tons, African countries with 320,200 tons and the Persian Gulf with 154,720 tons.

- FAS USDA has raised its forecast for the corn production in Bangladesh in 2021/22 to 5.11 million tons (4.7 million tons in 2020/21). In the new season, corn imports are expected to reach 1.6 million tons (2.4), domestic consumption of corn is projected at 6.6 million tons (6.4) and ending corn stocks are estimated at 0.65 million tons (0.64).