Grain Highlights 03.04.2021

In March, 2.55 million tons of grain were exported from Russia, which is 35% less than in March 2020 (3.9 million tons), according to Rusagrotrans.

- In March, 2.55 million tons of grain were exported from Russia, which is 35% less than in March 2020 (3.9 million tons), according to Rusagrotrans. 0.9 million tons of wheat (3.07), 0.68 million tons of barley (0.25), 0.92 million tons of corn (0.27) were also exported during the previous month. In April, exports are projected to reach 1.6 million tons, including 0.85 million tons of wheat, 0.4 million tons of barley and 0.33 million tons of corn.

- According to official data, the area of ​​winter wheat in Ukraine will be over 6.7 million hectares in 2021, which is 4.9% more than in 2020. With an average yield of 4.1 tons/hectare, the production will reach 27 million tons.

- According to Refinitiv, wheat exports from France to non-EU countries reached the highest level for the season of 937,700 tons in March compared to the previous record of 876,000 tons set back in November 2020. The largest customer during the month was Morocco 348,400 tons (+300% compared to February). 240,900 tons of wheat were exported to Algeria and 126,000 tons to Egypt.

- ADM reports that it is resuming operations at two ethanol plants in Iowa and Nebraska given the growing demand.

- According to Oil World forecast, the canola production in Canada will be 4.4 million tons in 2020/21 (+0.35 million tons compared to the previous estimate). Some analysts estimate the production at 4.5-4.7 million tons. Exports will reach 3.1 million tons, which is the highest level for the last 4 years. In 2019/20, canola exports were only 1.56 million tons. 2.5 million tons of canola will be delivered to the EU (1). Canola crush in Australia is projected at 0.93 million tons (0.88) and ending stocks at 0.32 million tons (0.03).

- After the heavy rains in Argentina, the harvesting campaign of soybeans is delayed. As of 31.03.2021, 1% of the soybean areas have been harvested compared to 8.1% a year earlier. 7.9% of the corn areas have also been harvested (+0.9% for the week).

- According to the USDA forecast, the wheat production in Ethiopia will reach a record 5.18 million tons in 2021/22  compared to 5.1 million tons in 2020/21. Wheat imports are projected at 1.5 million tons. The corn production is expected to reach 8.63 million tons, sorghum production is estimated at 5 million tons and barley production is predicted at 2.36 million tons.

- According to LATT, 713,500 tons of wheat were delivered to Egypt in March, compared to 1.69 million tons in February.

- Egypt has announced an unusual tender for the purchase of wheat with delivery within 1 - 10 August. Usually deliveries are within 1.5 - 2 months.