Grain Highlights 24.03.2021

24 Mar, 2021
Grain Highlights 24.03.2021
According to IHS Markit Agribusiness, corn areas in the United States will reach 38.2 million hectares in 2021/22, which is 1.4 million hectares more than the previous year.

- According to Rusagrotrans forecast, 1 million tons of wheat will be exported from Russia in March, compared to 4.07 million tons in February.

- Forward prices in Ukraine with delivery within July - September are in the range of:

  • rapeseed - 500 - 520 USD/ton
  • soybean- 540 - 630 USD/ton
  • sunflower- 740 - 750 USD/ton

- According to IHS Markit Agribusiness, corn areas in the United States will reach 38.2 million hectares in 2021/22, which is 1.4 million hectares more than the previous year. Corn production is projected at 395.9 million tons (360.3). The soybean areas are expected at 33.6 million hectares and the soybean production is estimated at 123.4 million tons (112.3).

- Yesterday, commodity funds in Chicago were net buyers of 3,500 contracts of corn, 4,500 contracts of soybeans and 5,000 contracts of wheat.

- Rabobank has lowered its forecast for corn production in Brazil in 2020/21 by 2 million tons to 105 million tons, which is still above the current record of 102.5 million tons set in 2019/20.

- From May, the authorities in Argentina will reduce the percentage of blending of the biocomponent in fuels from 12% to 10% for ethanol and from 10% to 5% for biodiesel .

- According to Oil World, soybean crush reached 2.85 million tons in Argentina in February, compared to 2.63 million tons in February 2020 and 3.2 million tons in January 2021. Soycrush is expected to reach a record level of 3.4 million tons in March. In February, sunflower crush was 202,000 tons (211,000 and 165,000).

- The harvesting campaign of wheat began in Iraq in April. Wheat production is expected to reach 5 million tons, which is 7.8% more than the previous year.

- The South Korean feed manufacturer FLC has purchased 65,000 tons of feed wheat of any origin at a price of 271.99 USD/ton + 1.5 USD/ton and delivery until 15.10.2021.

- The Association of Feed Producers in Thailand has announced a tender for the purchase of 430,000 tons of feed wheat of any origin and delivery in May-December. A group of private Philippine importers has announced a tender for the purchase of 155,000 tons of feed wheat of any origin and delivery in April-June.

- According to the forecast of the Association of Palm Oils in Indonesia, at the end of 2021 the palm oil stocks in the country will be 2.67 million tons compared to 4.87 million tons a year earlier.