Grain Highlights 15.03.2021

15 Mar, 2021
Grain Highlights 15.03.2021
According to the latest estimate of Aprosoja, the soybean production in Brazil will reach 128.57 million tons in 2020/21 compared to 124.84 million tons in 2019/20.

- Last week, the export prices of Russian wheat 12.5% ​​decreased by 5 USD/ton to 280 USD/ton FOB with delivery in March, according to ICAR. SovEcon suggested a reduction of 2 USD/ton to 283 USD/ton for Russian wheat 12.5% and a reduction of 5 USD/ton to 254 USD/ton for feed wheat.

- During the week of March 1 - 7, 62,300 tons of sunseed oil were exported from Russian ports, which is 50% less than the previous week. The largest importers were Turkey with 27,300 tons, Egypt with 23,500 tons and Iran with 11,500 tons.

- From 15.03.2021, Russia introduced an export tax of 25 EUR/ton for corn and 10 EUR/ton for barley .

- In the period of January-February, 14,389 tons of rapeseed were exported from Ukraine. Rapseed exports reached a total of 2.38 million tons in 2020.

- According to data from FranceAgriMer, as of 08.03.2021, 88% of the soft wheat crops were in good and excellent condition in France compared to 88% a week earlier and 63% a year earlier. 88% of the durum wheat crops (88% and 67%) were in good and excellent condition and 85% of the winter barley crops are in the same condition (84% and 63%). 90% of the planned areas (51% and 33%) are sown with spring barley.

- On Friday, commodity funds in Chicago were net sellers of 2,500 contracts of corn and 4,000 contracts of wheat.

- According to the Statistical Bureau of Kazakhstan, as of 01.03.2021 the grain stocks in the country were 10.046 million tons (11.05 million tons a month earlier), including wheat stocks of 7.96 million tons and barley stocks 1.35 million tons.

- According to Coceral's estimated, the total grain production in the EU-27 in 2021 will reach 283.48 million tons compared to 278.2 million tons in 2020. The soft wheat production is estimated at 126.6 million tons (118.7). The soft wheat production in the UK is expected to reach 14.9 million tons (9.5). The EU corn production is projected at 63.5 million tons (62.3), including Romania 11.7 million tons (9.6), Bulgaria 3.8 million tons (3.5). Total EU oilseeds production will be 29.6 million tons (28.4), including:

  • rapeseed 16.6 million tons (16.1)
  • sunseed 9.9 million tons (9.3)
  • soybeans 3.1 million tons (3.07)

- According to the latest estimate of Aprosoja, the soybean production in Brazil will reach 128.57 million tons in 2020/21 compared to 124.84 million tons in 2019/20. Other major analysts expect a production of 134-135.1 million tons. In Mato Grosso, 80.16% of the soybean areas have been harvested (86.86% a year earlier) and 36% (68%) in Parana.

- According to Oil World, world's oil stocks will reach a total of 101.7 million tons in 2020/21 (-12.2 million tons compared to 2019/20), which is the lowest level in the last 5 years. World oilseeds consumption is projected at 588.3 million tons (580.7) and supply will be 690 million tons (694.5). The largest decline was in soybean stocks- a total of 88.6 million tons (98.6 million tons in 2019/20 and 111.35 million tons in 2018/19), including US soybean stocks of 3.2 million tons (14.3). The forecast for the soybean production in Brazil in 2020/21 is now at 131 million tons and 44 million tons (47.6) in Argentina.