Grain Highlights 11.03.2021

11 Mar, 2021
Grain Highlights 11.03.2021
According to Anec's forecast, 15.5 million tons of soybeans will be exported from Brazil in March, compared to 13.75 million tons in the previous estimate.

- In their March report, experts from FranceAgriMer have raised their forecast for the ending stocks of wheat in France for 2020/21 by 100,000 tons to a total of 2.7 million tons. Exports of non-EU crops will be 7.5 million tons (13.54). Exports of feed barley will be 5.719 million tons, which is 5,000 tons less than the previous estimate. Exports outside the EU rose to 3.2 million tons (+0.1). Ending corn stocks have been increased to 2 million tons (1.9) and barley exports have been increased to 1.06 million tons (1.03).

- Due to the poor condition of winter rapeseed crops in France, they will be reduced from 1.13 million hectares to 1 million hectares, which is 9.8% less than in 2020. The figure will be the lowest since 1997.

- Yesterday, commodity funds in Chicago were net sellers of 17,500 contracts of corn, 14,000 contracts of soybeans and 2,500 contracts of wheat.

- According to Anec's forecast, 15.5 million tons of soybeans will be exported from Brazil in March, compared to 13.75 million tons in the previous estimate. Exports of soymeal are projected at 1.19 million tons (1.14) and corn exports will reach 136,000 tons (73,000).

- The Rosario Grain Exchange has lowered its forecast for the soybean production in Argentina by 4 million tons to a total of 45 million tons given the prolonged drought in the country.

- According to official data, Egypt has strategic stocks of wheat, which are sufficient to meet domestic demand over the next 4 months. Vegoils stocks will be sufficient for 4.8 months.

- According to updated data, on 09.03.2021 Algeria bought 480,000 tons of milling wheat of any origin at a price of 323 USD/ton C&F and delivery in April. The wheat will most likely be delivered from France, Germany and Poland.

- Turkey is looking to buy 115,000 tons of feed corn with delivery within 25.03 - 20.04.2021.

- Saudi Arabia purchased 660,000 tons of feed barley at an average price of USD 279.77/ton C&F from the EU, Australia, North America, South America and the Black Sea region.

- Jordan is looking to buy 120,000 tons of barley with delivery in October - November.