Grain Highlights 21.04.2021

21 Apr, 2021
Grain Highlights 21.04.2021
The latest Bureau of Reclamation reservoir projections show that the Colorado River’s two biggest reservoirs are likely to drop to historically low levels later this year due to severe drought conditions.

For the first time in US history, a water-shortage declaration may be announced in US West. 

- Yesterday, commodity funds in Chicago were net buyers of 35,000 contracts of corn, 12,000 contracts of soybeans and 6,000 contracts of wheat.

- According to the forecast of 11 international analysts, the corn production in Brazil will be 107.3 million tons in 2021. The lowest estimate of 103.4 million tons was given by AgRural and the highest by Safras & Mercado - 112.81 million tons.

- According to a preliminary estimate, in the first three weeks of April, soybean exports from Brazil reached 10.6 million tons compared to 9.16 million tons a year earlier. 90% of the quantity is exported to China.

- According to the Australian Bureau of Statistics, 238,200 tons of canola were exported from Australia in February, which is 57% less than in January (555,200 tons). The largest customers were Belgium with 60,030 tons, Germany with 61,840 tons and France with 61,600 tons. During the period of January - February, exports were 793,400 tons.

- The Ministry of Agriculture of Ukraine proposed to ban the export of sunseed from the country for the period of 15.05 - 30.09.2021.

- In the period of July-February, corn imports in Turkey were 717,000 tons and the main supplier was Ukraine. Imports of barley were 514,500 tons with Syria as the main supplier. Wheat imports were 6.53 million tons, 79% of which came from Russia.

- In the next 2021/22 season the soybean production in Argentina is projected to reach 51.55 million tons according to the forecast of FAS USDA. In 2020/21, soybean production is expected to reach a maximum of 45 million tons and exports will be reduced to 5.5 million tons due to competition from Brazil. In 2019/20, Argentina exported 10 million tons of soybeans.

- Authorities in Iran have doubled the purchase price of wheat from local farmers to 280 USD/ton. Purchases of 8.25 million tons of wheat have been planned from the expected total wheat production of 12 million tons.