Grain Highlights 12.05.2021

The Ministry of Agriculture of China forecasts soybean imports in the country of 102 million tons in 2021/22 (+1.6% compared to 2020/21).

- In their May report, the French state agency FranceAgrimer raised the forecast for barley exports from France in 2020/21 to 5.744 million tons, which is 40,000 tons more than in April, but 26.9% less than 2019/20.

- In their May report, the French state agency FranceAgrimer raised the forecast for wheat exports in 2020/21 to 13.367 million tons, which is 65,000 tons more than the previous estimate.

- According to the forecast of the Ministry of Agriculture of China, in 2021/22 (October - September) corn production in China will reach 271.81 million tons. Given the high corn prices, the farmers have increased corn areas compared by 3.4% to 2020 to 42.67 million hectares. Corn imports are projected at 20 million tons, compared to a record 22 million tons in 2020/21.

- The Ministry of Agriculture of China forecasts soybean imports in the country of 102 million tons in 2021/22 (+1.6% compared to 2020/21). China's soybean production is projected at 18.7 million tons (19.6) and ending soybean stocks at 3.3 million tons (3.6). The veg oils production are expected at  29.6 million tons (+1.9%), including soyoil production of 17.7 million tons (+1.1%) and rapeseed oil production of 6 million tons (+5.3%). Imports of oils are estimated at 8.5 million tons (-8.9%), including palm oil imports of 4.2 million tons (+6.7%) and rapeseed oil imports of 1.9 million tons (-5%).

- Egypt's state-owned company GASC purchased 30,000 tons of soyoil at a price of 1,348 USD/ton C&F and 10,000 tons of sunseed oil at a price of 1,590 USD/ton C&F and delivery in July 11-13. 29,000 tons of soyoil were purchased at a domestic tender at a price of 1,348.6 USD/ton and delivery within 16.07.2021 - 05.08.2021.