Grain Highlights 16.08.2021

Strategie Grains has lowered its forecast for the EU wheat production in 2021/22 by 1.5 million tons to 131.5 million tons.

- SovEcon has lowered its forecast for the wheat production in Russia in 2021/22 to 76.2 million tons (76.4 million tons since the beginning of August).

- Strategie Grains has lowered its forecast for the EU wheat production in 2021/22 by 1.5 million tons to 131.5 million tons. A year earlier, the wheat production in the EU reached 118.8 million tons. The barley production is projected at 53 million tons (+2 and 55.4) and corn production is estimated at 66.3 million tons (+0.6 and 63.1).

- According to SEAI, 917,300 tons of vegetable oils were delivered to India in July, which is 5.3% less than the previous year. Imports of sunseed oil were 71,800 tons (175,700), palm oil imports reached 465,600 tons (-20.7%). Soyoil imports reached 379,890 tons (206,200), which is the highest level since the beginning of the season. Over the period of November - July, palm oil imports reached 5.61 million tons, soyoil imports were 2.23 million tons and sunseed oil imports were 1.52 million tons.

- Algeria is looking to buy milling wheat with delivery in September.

- Turkey is looking to buy 270,000 tons of barley with delivery in September. The previous auction was canceled due to high prices. Now, prices will be even higher!