Grain Highlights 19.05.2021

According to analysts, China will import more than 30 million tons of corn in 2021, despite the growth of corn areas in the country.

- Over the period of September-April, almost 4 million tons of sunseed oil were exported from Ukraine, which is 13.5% less than the previous year and is the minimum level for the last three years. For the entire 2020/21, sunseed oil exports are projected at 5.38 million tons (-19%).

- According to an estimate by COCERAL, the oilseed production in the EU will be 29.9 million tons in 2021/22 compared to 29.6 million tons in the previous estimate and 28.4 million tons in 2019/20. Oilseed production in France will be 5.1 million tons (5.4 and 5.3). Rapeseed production in the EU is expected to reach 16.6 million tons (16.1 million tons in 2020). Sunseed production in France is projected at 10.1 million tons (9.2) and soybean production is estimated at 3.2 million tons (3.1).

- According to COCERAL, the soft wheat production in the EU-27 will be 130.9 million tons in 2021, which is 3.4% more than the March estimate and 10% more than the wheat production in 2020. Together with the UK, soft wheat production would be 145.8 million tons, which is 3% more than last year. The barley production is expected to reach 55.4 million tons (+1.6% and -0.9%) and corn production is estimated to reach 64.7 million tons (+1.8% and +3.5%).

- According to the German Bureau of Statistics, winter wheat areas in the country are 2.83 million hectares in 2021, which is 3% more than in 2020. The winter rapeseed areas are 991,000 hectares (+33.9%), winter barley areas are 1.25 million hectares 3.6%), spring barley areas are 300,000 hectares (-17.1%), corn areas are 417,000 hectares (-0.5%).

- According to data from the Ministry of Agriculture of Argentina, farmers in the country have sold 18.5 million tons of soybeans, which is 3.8 million tons less than the previous year.

- According to analysts, China will import more than 30 million tons of corn in 2021, despite the growth of corn areas in the country. The corn production in the country is expected to reach 272 million tons (+4.3%). The price of corn produced in China is much higher than the imported one with delivery costs.

- Given the pandemic, palm oil consumption in India will be reduced by another 400,000 - 600,000 tons for the second year in a row. In 2020, palm oil imports were 7.21 million tons compared to 9.4 million tons in 2019. Over the period of 2016 - 2020, imports increased by 1.6% on average annually.

- Taiwanese company MFIG held a tender and purchased 65,000 tons of feed corn from Argentina at a price of 268.25 USD/ton C&F and delivery in July.