Grain Highlights 26.11.2020

SovEcon raises its estimate for wheat exports from Russia in 2020/21 by 1 million tons to the total of 40.8 million tons compared to the previous estimate.


- SovEcon raises its estimate for wheat exports from Russia in 2020/21 by 1 million tons to the total of 40.8 million tons compared to the previous estimate. The new forecast is 100,000 tons below the 2017/18 record. Estimates for the export of barley and corn were reduced by 300,000 tons to 4.9 million tons and 3.9 million tons, respectively. The total grain export from Russia is estimated to be 51.2 million tons. The estimate for the Russian wheat harvest has also been raised by 900,000 tons to 85.3 million tons.

- According to IHS Markit Agribusiness, the area sown with ​​winter wheat in the United States in 2020/21 is 31.5 million acres, which is 3.6% more than in 2019/20 - 30.4 million acres. For the first time in the last 8 years, the areas sown with winter wheat are on the rise. The growth is due to strong export demand. Since the beginning of the season, China has bought 1.7 million tons of wheat compared to only 194,060 tons a year earlier. The USDA expects the total wheat area in the United States to reach 46 million tons.

- Brazil has announced a duty-free import quota of 750,000 tons of wheat from countries outside Mercosur for the period 18.11.2020 - 17.11.2021.



- The Ministry of Agriculture of Ukraine lowered its forecast for the grain harvest in the country to 65 million tons compared to 68 million tons in the previous estimate and 75.2 million tons in  2019.

- Turkey bought at auction 350,000 tons of corn with a price of 245.30 -250.90 USD / ton C&F and delivery in January. 155,000 tons feed barley were additionally purchased with a price of 226.40 USD / ton C&F and delivery in December. 

- Tunisia bought 75,000 tons of durum at a price of 366.49 - 370.29 USD / ton, 92,000 tons of soft wheat at a price of 275.49 - 276.89 USD / ton and 75,000 tons of barley at a price of 237.97 - 240.77 USD / ton, all prices at C&F and delivery in December - January.

- The Association of Thai Feed Producers purchased 60,000 tons of feed wheat at a price of USD 282.50 / ton C&F and 79,000 tons of feed barley at a price of USD 235 - 236 / ton C&F, random origin and delivery February - March.


Oilseeds and vegetable oils

- Since the beginning of the season, the import of sunflower in the EU has increased by 63%. The main importers were Romania and Bulgaria. The largest exporter with a share of 36% is Russia followed by Moldova 24%. At the end of October, Turkey lowered its import duty on sunflowers to 0% and hopes for total imports to reach  850,000 tons for the season.

- According to the European Commission, in the week of November 15-22, rapeseed imports into the EU reached 6,700 tons compared to 78,600 tons a week earlier. This is the minimum weekly level since the beginning of the season. From the beginning of 20/21, imports reached 2.6 million tons compared to 3.2 million tons a year earlier. The largest exporter is Ukraine with 1.7 million tons (65% of the total).

- During the period 25.11.2020 - 30.06.2021 the import of sunflower oil in Turkey will be subject to a duty of 3% of the price C&F + 60 EUR / ton. Starting from 01.07.2021, the duty will be 3% C&F + 280 EUR / ton. Earlier, the duty was 36%.