Grain Highlights 07.05.2021

The wheat production in Romania in 2021 is expected within the range of 8.5 - 10 million tons compared to 6.4 million tons in 2020 (-38% compared to 2019).

- The wheat production in Romania in 2021 is expected within the range of 8.5 - 10 million tons compared to 6.4 million tons in 2020 (-38% compared to 2019). Romania is one of the largest wheat producers in the EU.

- During the period 01.07.2020 - 25.04.2021, 1.42 million tons of sunseed oil were imported into the EU. A year earlier, sunseed oil imports in the EU (+UK) were 1.96 million tons. The largest suppliers were Ukraine with 1,257 million tons, Serbia with 76,400 tons, Moldova with 58,800 tons, Russia with 6,750 tons and Argentina with 5,490 tons. During the period, sunseed oil exports from the EU amounted to 431,460 tons. Since the beginning of the season, 3.7 million tons of sunseed oil have been exported from Ukraine, which is 69% of what was planned under the memorandum.

- According to Refivitiv, in April 665,600 tons of wheat were exported from France to non-EU countries, which is the lowest level for this month in the last 9 years. In April 2020, exports reached 908,400 tons. The decline is due to lower yields and lower demand. The largest customers during the month were Morocco with 238,900 tons, Egypt with 126,000 tons, Algeria with 75,000 tons and China with 168,900 tons. Total grain exports from France in April reached 1.1 million tons, also the lowest level for the last 9 years.

- According to Anec's forecast, soybean exports from Brazil will reach 11.96 million tons in May, compared to 15.63 million tons in April and 13.87 million tons in May 2020. Soymeal exports are expected to reach 1.68 million tons (1.57 and 1.77). .

- According to the forecast of the Buenos Aires Grain Exchange, the wheat production in Argentina will reach 19 million tons in 2021/22 compared to 17 million tons in 2020/21. Wheat exports are projected at 12 million tons (9.8 and 11.89).

- According to data from the Ministry of Agriculture of Argentina, from the beginning of the season until 28.04.2021 Argentine farmers have sold 16.4 million tons of soybeans from the new crop. A year earlier, sales were 20.8 million tons. Despite high international prices, farmers are delaying sales to insure against devaluation of the national currency. Corn sales were 24.5 million tons (+850,000).

- On Tuesday, commodity funds in Chicago were net buyers of 22,500 contracts of corn, 9,000 contracts of soybeans and 5,500 contracts of wheat. On Wednesday, commodity funds were net buyers of 10,500 contracts of corn, 3,500 contracts of soybeans and 9,500 contracts of wheat.

- The Parana River is a major river route in Argentina. At present, the water level in it is at a critical minimum, which makes it difficult to transport grain to the country's export ports. As of 04.05.2021 the water level in the export hub Rosario was only 0.92 meters compared to the average level for April of 3.58 meters over the period of 1996 - 2020 . At this river level, ships carry an average of 5,500 - 7,000 tons of grain. In April 2020, the river level was also critically low.

- At the end of April, palm oil stocks in Malaysia reached 1.44 million tons (-0.27% compared to March), which is a very low level. Palm oil production in April was 1.55 million tons (+8.9%) - the highest level since October 2020. Exports reached 1.3 million tons (+10%) and imports were 108,000 tons (-21.4%).

- Tunisia bought 50,000 tons of feed barley at a price of 278.15 - 279.68 USD/ton with delivery in June.

- According to the forecast of Oil World, over the period of March - August, world soybean exports will decrease by 6.2 million tons compared to 2019/20 to a total of 92.8 million tons. Exports from the United States are projected at 8.11 million tons (15.29), Argentina - 5.21 million tons (6.27), Canada - 1.1 million tons (1.15), Brazil - 70.29 million tons (68.35), Uruguay - 2.05 million tons (1.77). For the entire 2020/21, total exports are estimated at 167.82 million tons (166.95).

- According to IOPRI forecast, the palm oil production in Indonesia will reach 55.69 million tons in 2021 (+7.1% compared to 2020).