Grain Highlights 05.03.2021

05 Mar, 2021
Grain Highlights 05.03.2021
According to the Buenos Aires Grain Exchange, the corn harvesting campaign has begun in Argentina. As of 03.03.2021, 120,300 hectares out of a total of 6.3 million hectares have been harvested. 752,000 tons of corn have been harvested at an average yield of 6.26 tons/hectare.

- 84% of the corn crops are in good and excellent condition in Argentina (88% a week earlier and 94% a year earlier). 16% of the crops are in poor condition (12% a week earlier).

- According to data from FranceAgriMer, as of 01.03.2021 88% of the winter wheat crops are in good and excellent condition in France (87% a week earlier). 50% of the planned areas are sown with spring barley (+31% for the week and 33% a year earlier).

- During the week of February 19-25, soybean export sales from the United States reached 334,000 tons, which is 1/3 less than the average level for the last 4 weeks. Soybean exports reached 1.16 million tons (-22%). Since the beginning of the season, total soybean exports have reached 52.7 million tons (29.6), including 34.5 million tons for China (11.9).

- Yesterday, commodity funds in Chicago were net sellers of 2,500 contracts of corn, 4,500 contracts of wheat and net buyers of 1,500 contracts of soybeans.

- According to Oil World, in January, canola exports from Canada reached 519,000 tons (262,000 tons exported in December and 290,000 tons in January 2020). Over the period October - January, the exports were over 1 million tons (0.7).

- On 04.03.2021, Algeria purchased 280,000 tons of durum wheat of any origin at a price of 372 - 373 USD/ton and delivery in April.

- According to the forecast of FAS USDA, 5 million tons of wheat will be imported in Algeria in 2021/22, which is 1.5 million tons less than the previous year. The wheat production is projected at 3.9 million tons, which is unchanged from the previous two seasons. Domestic consumption will reach 11.2 million tons and ending stocks are estimated at 2.4 million tons (4.7 and 5.4).

- According to the forecast of Oil World, in the period of October - February 2020/21 soymeal imports  into Iran reached 1.1 million tons, which is twice as much as the previous year. The largest supplier was Argentina. The import of vegoils during the same period was 463,000 tons (328,000), including:

  • palm oil- 187,000 tons (152,000)
  • soyoil- 98,000 tons (16,000)
  • sunseed oil- 178,000 tons (160,000)