Wheat

- In the November report, analysts from the IGC raised their expectations of the world wheat production in 2020/21 to 765 million tons compared to 763.9 million tons in the previous report and 763.4 million tons in 2019/20.

The wheat production is estimated to reach:

• Russia - 83.5 million tons (82.5 and 73.6)
• EU - 123 million tons (122.6 and 155)
• Australia - 29.3 million tons (28.4 and 15.2)
• Argentina - 17 million tons (18 and 19.8)

World wheat exports are expected to reach 186 million tons (185,5 and 184,3):

• Australia - 19.4 million tons (19.2 and 9.3)

• Argentina - 12.5 million tons (13 and 14)

The world wheat ending stocks will be 292.1 million tons (290.8 and 278.9):

• Russia - 11 million tons (10.5 and 9)
• Australia - 5.9 million tons (5.4 and 3.5)
• Argentina - 1.2 million tons (1.5 and 2)
• EU - 10.6 million tons (11.2 and 14.2)
• China - 139.8 million tons (+0.5 and 130.2)

Wheat imports to China will be 7.9 million tons (7.4 and 6.7).

- According to ICAR's forecast, the wheat production in Russia will reach 78 million tons in 2021. The forecast was made for two opposite factors - record areas sown with winter wheat and very poor condition of crops.

- Tunisia bought 92,000 tons of soft wheat at a price of 275.49 - 276.97 USD / ton C&F, 75,000 tons of durum wheat at a price of 366.49 - 370.29 USD / ton C&F and 75,000 tons of feed barley at a price of 237.97 - 240.77 USD / ton C&F.

- The South Korean milling company Daehan Flour Mill has held a tender for the purchase of 45,000 tons of Australian wheat with delivery between 16.02. - 15.03.2021. In the past, South Korean companies bought mostly from the United States. 

Coarse Grains

- According IGC’s report in November, the world corn production will reach 1.146 million tons (1.156 million tons in the report for October and 1.124 million tons in 2019/20) in 2020/21. The corn production in the US will amount to 368.5 million tons of the total production (-5.4 million tons). The production in the EU is expected to be 60.1 million tons (-2.5 and 68.1); 30 million tons in Ukraine (-3 and -16%) and 15.8 million tons (+1.8) in South Africa. World exports of corn is expected to be 185.1 million tons (179.9 and 173.6). Exporters include:

• United States - 67 million tons (58 and 45.1)
• South Africa - 2.7 million tons (1.6 and 2.6)
• Ukraine - 25.5 million tons (29 and 29)
• EU - 2.5 million tons (3.1 and 4.7)

Imports of corn into the EU will be 20.4 million tons (22.4 and 18.9).

The world's corn ending stocks will reach the total of 274.6 million tons (278.8 and 297.7):

• US - 43.5 million tons (56.3 and 50.7)
• EU - 5.6 million tons (4.8 and 7.2)
• South Africa - 2.3 million (1.8 and 2.1)
• Ukraine - 1.3 million tons (0.8 and 2.3)

- As of November 26, 2020, 2.5 million hectares of corn have been harvested in Russia, 13.7 million tons have been harvested at an average yield of 5.41 tons / hectare.

- As of November 26, 2020, 5.02 million hectares or 92% of the area sown with corn has been harvested in Ukraine resulting in 26.3 million tons of corn production. The total production will reach 28.6 million tons gross weight.

- According to FranceAgriMer, as of 23.11.2020 the sowing of winter wheat is 99% completed in France. 96% of the crops are in good and excellent condition, compared to only 75% a year earlier. The sowing of winter barley is 88% complete and the corn has been harvested in 91% of the areas sown with corn.

- According to Statistics Canada, in the week of November 15-22, the export of canola from Canada was 309,500 tons compared to 245,600 tons a week earlier. Since the beginning of the season, total exports are 3.9 million tons (2.8). During the week, soybean exports were 193,500 tons (184,100), and since the beginning of the season, they reach 1.7 million tons (1.2). Weekly exports of wheat reach 331,900 tons (440,900); durum exports - 240,800 tons (219,600); barley exports - 133,300 tons (68,800); corn exports - 85,900 tons (8,200). Since the beginning of the season, total exports of wheat are 6.4 million tons (+ 29%); total exports of durum are 1.7 million tons (+ 11%); total exports of barley reach 1.1 million tons (-95%); and total exports of corn are 173,000 tons (+ 1400%). 

Oilseeds and vegetable oils

- In October, Ukraine produced 612,600 tons of sunflower oil, which is at the level of the previous year. At the beginning of November, sunflower stocks in Ukraine were 7.2 million tons (8.8 million tons a year earlier).

- As of November 26, 2020, 8.3 million hectares (99%) of sunflower were harvested in Russia; 13.2 million tons were harvested at an average yield of 1.60 tons / hectare.  

- As of 25.11.2020, 99% or 1.39 million hectares of the planned areas for sunflower in Argentina are sown. The monthly analysis for sown areas shows smaller rate than the average level due to the drought in the sowing period. 

- Oil World’s forecast for the canola production in Australia is now up by 0.3 million tons to 3.8 million tons, which is 1.5 million tons more than the previous year and is at its highest level for the last 4 years. Canola exports will increase by 1 - 1.1 million tons to 2.6 million tons.

- According to AmSpec Agri Malaysia Malaysia, in the period 1 - 25 November the export of palm oil from the country was 1.14 million tons, which is 18.9% less than the previous month - 1.41 million tons.

- The Government of India has decided to reduce the import duty on unrefined palm oil from 37.5% to 27.5%.