Grain Highlights 11.12.2020

11 Dec, 2020
Grain Highlights 11.12.2020
According to The Ministry of Agriculture of China's forecasts, the import of corn in the country in 2020/21 will be reduced to a total of 7 million tons compared to the 22 million tons expected by FAS USDA.

- During the period July-November, 25.8 million tons of grain were exported from Russia of which 21.6 million tons of wheat according to Rusagrotrans, which is a new historical record for the country. The previous best achievement was realized in 2018 - 24.7 million tons of which 21 million tons of wheat. The main consumers of Russian wheat are:

  • Egypt- 4.8 million tons
  • Turkey- 3.9 million tons
  • Bangladesh- 1.4 million tons
  • Pakistan- 0.92 million tons

- The authorities in Russia are considering raising the export duty of sunflower in case the prices of sunflower oil do not fall by the end of the year.

- According to COCERAL's forecast, the soft wheat production in the EU (excluding the UK) will reach 127.891 million tons in 2021 (+8.5% compared to 2020). The barley production is estimated at 54.862 million tons (0.1%) and corn production at 63.033 million tons (+0.7%).

- FranceAgrimer leaves unchanged the barley production in France for 2020 - 5.6 million tons, which is 28.4% less than the previous season. Exports to EU countries will be 30.8% lower. For non-EU countries, exports will reach 2.9 million tons (-26.2%).

- FranceAgrimer lowered the forecast for the export of soft wheat from France in 2020/21 to a total of 13.267 million tons, which is 36.8% less than the previous year. Exports to EU countries is predicted at 6.193 million tons (-16.6%) and to non-EU countries- 6.95 million tons (-48.4%).

- The rate of soybean sales from American farmers is much higher than usual. According to ED&F Man Capital, 80% of the 2020 production has already been sold, compared to 55-60% in previous years.

- According to The Ministry of Agriculture of China's forecasts, the import of corn in the country in 2020/21 will be reduced to a total of 7 million tons compared to the 22 million tons expected by FAS USDA. According to data from the National Bureau of Statistics of China, the corn production in the country reached 260.67 million tons in 2020 (-0.04% compared to 2019). Other Chinese productions were estimated at:

  • wheat-134.25 million tons (+0.5%)
  • rice- 211.86 million tons (+1.1%)
  • soybeans- 19.6 million tons (+8.3%)

- According to MPOB data, the country's palm oil stocks reached a minimum level for the last three years in November while there is currently a significant reduction in production. At the end of November, stocks are estimated at 1.56 million tons (-0.58% for the month), which is the lowest level since June 2017. During the month, Malaysia's palm oil imports reached 112,600 tons (+148% for the month). Production decreased by 13.5% compared to October to a total of 1.49 million tons and is the lowest since March. Exports decreased by 22.16% to 1.3 million tons due to a drop in deliveries to India.

- According to FAS USDA's, wheat imports to Thailand will reach 3 million tons in 2020/21, which is 100,000 tons less than the previous year. Corn imports are predicted at 800,000 tons, which is 50% less than the previous season. Domestic production of corn is forecasted at 5.61 million tons (+1.13 million tons).

- On 09.12.2020, Jordan bought 60,000 tons of milling wheat of any origin at a price of 274.40 USD / ton and delivery in May.