In their August report, MARS analysts lowered the forecast for the average soft wheat yield in the EU to 5.98 tons/hectare (6.05 in the previous estimate, +4.8% compared to 2020 and +5% compared to the average for the last five years).
Yesterday, CBOT SRW wheat and soybean futures prices rose and Chicago corn futures prices fell. In Paris, wheat and rapeseed futures prices increased and corn futures prices dropped.
According to data, as of August 23, 2021, 99.9 million hectares of cereals were harvested in Russia, 84.7 million tons of grain were harvested at an average yield of 2.83 tons/hectare.
As of 16.08.2021, 98.5% of the wheat areas have been harvested in Romania. 11.3 million tons of wheat were harvested (6.3 million tons in 2020) at an average yield of 5.35 tons/hectare (2.99).
Yesterday, CBOT SRW wheat and corn futures prices rose minimally and Chicago soybean futures prices fell moderately. In Paris, wheat and corn futures prices rose sharply and rapeseed futures prices fell.
Due to the drought in Canada, the rapeseed production will fall from 20 million tons in the initial forecasts to 15 - 17 million tons and some analysts expect 12 million tons.
