Grain Highlights 27.09.2021

In 2021, the wheat production in Bulgaria reached 7.16 million tons, which is 52% more than in 2020 and is a new record for the country.

- In 2021, the wheat production in Bulgaria reached 7.16 million tons, which is 52% more than in 2020 and is a new record for the country. The second highest result was set back in 2017. Wheat areas were 1,204,334 hectares and the average wheat yield was 5.94 tons/hectare. The barley production reached 598,761 tons, barley areas were 130,581 hectares and the average yield was 5.35 tons/hectare. Rapeseed production in Bulgaria amounted to 376,364 tons, rapeseed areas were ​​133,356 hectares and the average rapeseed yield reached 2.82 tons/hectare. At present, 47% of the sunseed areas and 17% of the corn areas have been harvested.

- According to Rusagrotrans forecast, more than 6 million tons of grain were exported from Russia in August, including a record 5.3 million tons of wheat. Exports are expected to decline slightly in September. In 2021/22, grain exports from Russia will be 42-44 million tons, including wheat exports of 33 - 35 million tons (39 years earlier), barley exports of 3.65 million tons (6.5) and corn exports of 3.2 million tons (4).

- According to the Ukrainian Grain Association, the grain production in the country will be 110 million tons in 2021. Two years earlier, the current record of 98 million tons was set. In the new season, grain exports from Ukraine are projected to reach 70.1 million tons.

- On Friday, commodity funds in Chicago were net buyers of 4,000 contracts of wheat, and 1,000 contracts of soybeans and net sellers of 1,000 contracts of corn.

- Experts from Agriculture and Agri-Food Canada increase their forecast for the wheat production in Canada in 2021 by 1.5 million tons to 21.7 million tons compared to 35.2 million tons in 2020. The durum production is estimated at 3.5 million tons (6.6). Wheat exports are expected at 15.6 million tons (+1.5 and 26.4), domestic consumption is predicted at 8.1 million tons (-0.5) and ending wheat stocks are expected to reach 4 million tons (+1.4 and 5.7). The corn production will reach 14.4 million tons (+0.2 and 16.1) and the canola production is projected at 12.8 million tons (-2.2 and 19.5).

- In the Brazilian state of Parana, farmers have planted 3% of the planned soybean areas for 2021/22.

- In 2021/22, soybean areas in Argentina are expected reach 16.3 million hectares (-1.8 compared to 2020/21). In the old season, the soybean production reached 46 million tons (49 in 2019/20).

- Algeria has announced a tender for the purchase of at least 50,000 tons of milling wheat of any origin. About 400,000 tons of wheat were bought at the previous tender and more than 300,000 tons of durum last week.

- Over the period of September 1 - 25, exports of palm oil from Malaysia reached 1.28 million tons, which is 29.8% more than the same period in August, according to AmSpec Agri Malaysia.

- According to a forecast by Godrej International, palm oil futures will remain expensive at least until March given the high level of export taxes from Indonesia. Trading over the period of October - February will be in the range of 955 - 1,050 USD/ton. India is likely to cut purchases. In August, palm oil stocks in Malaysia increased by 25%, which will also have an impact. In 2021/22, the supply of vegetable oils in the world will increase by 5 million tons with an increase of 2.5 million tons in 2020/21. Consumption is expected to grow by 4 million tons per year. Palm oil production in Malaysia is projected at 19.2 million tons (18.2) and palm oil production in Indonesia is expected to increase by 1 million tons. Imports of oils to India will be 13.4 million tons (13.44), including imports of palm oil of 7.65 million tons (8.21). Imports of soyoil in this country are estimated to reach 2.9 million tons (2.88) and sunseed oil imports are expected to reach 2.5 million tons (1.95). After December, the prices of sunseed oil will fall and will remain below those of soyoil.