- According to USDA data, as of March 21, 2021, 45% of winter wheat crops are in good and excellent condition in Kansas (+7% for the week). Only 17% of crops experienced a lack of moisture compared to 24% a week earlier and 47% two weeks earlier. In Texas, 29% are in good and excellent condition (27% a week earlier). The state has planted 38% of the area planned for corn (26% a week earlier and 34% on average over the past five years). In Oklahoma, 62% of winter wheat crops (+5%) are in good and excellent condition, and 33% (+8%) in Colorado.
- Yesterday, commodity funds in Chicago were net sellers of 10,500 corn contracts, net buyers of 1,000 soybean contracts.
- According to the forecast of SAFRAS & Mercado, the corn production in Brazil will reach 112.814 million tons in 2020/21, which is -0.6% less than the January estimate and + 5.6% more than 2019/20.
- In the first 15 days of March, 292,964 tons of corn were exported from Brazil, which is 57.3% less than in February and 9.1% less than in March 2020.
- Over the period of September - January, the processing of oilseeds in Ukraine reached a total of 8.091 million tons, including:
- sunflower- 7.3 million tons
- soybeans- 575,000 tons
- rapeseed- 216,000 tons
The export of oilseeds reached 3,717 million tons, including:
- rapeseed 2.378 million tons
- soybeans 1.159 million tons
- sunflower 180,000 tons
Oilseeds stocks were 6.693 million tons as of 01.03.2021, including sunflower stocks of 5.656 million tons and soybeans stocks of 1.037 million tons.
- During the week of March 15-21, 91,500 tons of rapeseed were delivered to the EU, compared to 115,000 tons a week earlier. Since the beginning of the season, total rapeseed imports have reached 4.87 million tons (4.81), including 2.18 million tons from Ukraine, 1.72 million tons from Canada and 788,000 tons from Australia. The weekly export of rapeseed oil was 2,600 tons (25,300), and since the beginning of the season, it reaches a total of 367,200 tons (+280%).
- The Government of Indonesia has increased the reference price of palm oil for April to 1,093.83 USD/ton from 1,036.22 USD/ton in March. The export tax increased from 93 USD/ton to 116 USD/ton. Thus, the total export taxes now reach 371 USD/ton.
- According to the FAS USDA forecast, the wheat production in Egypt will reach 9 million tons in 2021/22 (+100,000 tons compared to 2020/21). Wheat imports will reach 13.2 million tons (+200,000). The corn production is expected to reach 6.4 million tons and corn imports are estimated at 10.3 million tons.
- According to the USDA forecast, palm oil production in Indonesia will reach 45.5 million tons in 2021/22 compared to 43 million tons in 2020/21. Domestic oil consumption will be 15.4 million tons (14.9), including 9 million tons of biodiesel. Palm oil exports are projected at 30 million tons (27.5).