Grain Highlights 24.04.2021

According to the forecast of the FAS USDA, the wheat production in Argentina will reach 20.5 million tons in 2021/22.

- As of April 23, 2021, 3.5 million hectares or 6.7% of the area have been sown with spring crops in Russia. 456,600 million hectares (3.6%) were sown with spring wheat, 1.2 million hectares (15.6%) with spring barley, and 81,400 hectares (2.9%) with corn. 242,900 hectares (2.9%) were sown with sunseed.

- In the period January-March, vegoils production reached 2.487 million tons in Russia, which is 7% less than the previous year. Sunseed oil production for the period reached 2.054 million tons (-10%).

- During the period 01.07.2020 - 23.04.2021, 37.71 million tons of grain were exported from Ukraine, which is 23.6% less than the previous year. 14.78 million tons of wheat (-21%), 4.12 million tons of barley (-11%) and 18.2 million tons of corn (-28%) were exported. The exported quantity of wheat reaches 84.5% of the plan and 77.4% for corn .

- As of 01.04.2021, soybean stocks in Ukraine reached 777,600 tons (826,900 tons a year earlier).

- China has most likely bought 500,000 tons of French wheat from the new crop with delivery within July - September. It is assumed that a significant part of the amount is for feed consumption.

- According to FranceAgriMer, as of 19.04.2021, 85% of winter wheat crops in France are in good and excellent condition compared to 86% a week earlier and 58% a year earlier.

- On Thursday, commodity funds in Chicago were net buyers of 72,500 corn contracts, 23,000 soybean contracts and 19,000 wheat contracts.

- In Argentina, the sunseed harvesting campaign was completed with 2.7 million tons harvested. The average yield reaches 2.16 tons/hectare, which is the lowest level for the last five years. As of April 22, 2021, 18.5% of the soybean areas have been harvested and 9.5 million tons have been harvested. 1.06 million hectares (17%) were harvested with corn, 8.87 million tons of corn were harvested at an average yield of 8.35 tons/hectare. Total corn production is expected to reach 46 million tons (-5.5).

- According to the forecast of the FAS USDA, the wheat production in Argentina will reach 20.5 million tons in 2021/22. Domestic consumption will fall to 6.65 million tons (-5.5% compared to 2020/21). Exports are projected to reach a record of 13.3 million tons, including 6 million tons for Brazil. The corn production is estimated at 50 million tons in 2021/22 (47) and exports are expected to reach 35 million tons.

- Jordan has announced a tender for the purchase of 120,000 tons of feed barley with delivery in October - November.