Grain Highlights 26.05.2021

25 May, 2021
Grain Highlights 26.05.2021
According to a forecast of the Australian company IKON Commodities, the wheat production in Australia will reach 29.5 million tons in 2021/22 compared to 34.8 million tons in 2020/21.

- Over the period of January-April, the unrefined sunseed oil production in Ukraine reached 1.77 million tons, which is 20.6% less than the same period in 2020. In April alone, the production was 386,000 tons (-27.9%).

- As of 20.05.2021, Ukrainian farmers have sown 5.614 million hectares with sunseed compared to the previously forecasted 6.4 million hectares and sown areas in 2020 of 6.383 million hectares.

- In the week of May 17-23, 297,700 tons of wheat were exported from the EU compared to 405,500 tons a week earlier. 116,170 tons of wheat were exported from France, 66,700 tons from Poland and 55,000 tons from Latvia. Since the beginning of the season, wheat exports have reached a total of 23.4 million tons (-25%) and the largest buyers are Algeria with 5.15 million tons, Morocco with 2.2 million tons, Nigeria with 1.99 million tons, Saudi Arabia with 1.9 million tons and China with 1.7 million tons.

- Yesterday, commodity funds in Chicago were net sellers of 8,500 contracts of corn, 2,000 contracts of soybeans and 4,000 contracts of wheat.

- Over the period of May 1 - 25, 12.6 million tons of soybeans were exported from Brazil compared to 12.24 million tons a year earlier. Exports of over 16 million tons of soybeans are expected for the whole month, which is 2 million tons more than in May 2020.

- According to a forecast of the Australian company IKON Commodities, the wheat production in Australia will reach 29.5 million tons in 2021/22 compared to 34.8 million tons in 2020/21. Despite the decline, the wheat production is estimated to be relatively high and the recent rainfall in the country will definitely have a positive impact on it.

- Algeria has announced a tender for the purchase of at least 50,000 tons of durum wheat with delivery in July.

- In their May report, analysts from Oil World raised their forecast for the soybean production in the world in 2020/21 by 0.9 million tons to 358.3 million tons, which is 18.7 million tons more than 2019/20. The soybean production in Brazil is projected at 135.4 million tons (134.2) and the soybean production in Argentina at 43.5 million tons, which is the lowest level for the last 3 years. Over the period of March - August, world's soybean exports are expected at 92.09 million tons (98.9), including exports from:

  • United States - 7.6 million tons (15.3)
  • Argentina - 4.3 million tons (6.3)
  • Uruguay - 1.6 million tons (1.7)
  • Brazil - 71.4 million tons (+3 million tons)