Grain Highlights 26.05.2021

26 May, 2021
Grain Highlights 26.05.2021
According to the latest forecast of the Ministry of Agriculture of India, the wheat production in the country will reach 108.75 million tons in 2021.

- Over the period of January - April, 2 million tons of sunseed oil were produced in Russia , which is 10.2% less than the same period last year.

- According to the MARS forecast, the average wheat yield in the EU will reach 5.56 tons/hectare in 2021 (5.52 in 2020 and 5.33 on average for the last five years). The barley yield will be 4.89 tons/hectare (4.86 and 4.77), corn yield will be 7.81 tons/hectare (7.81 and 7.75), rapeseed yield is projected at 3.21 tons/hectare (3.19 and 3.06).

- Yesterday, commodity funds in Chicago were net sellers of 57,500 contracts of corn, 10,000 contracts of soybeans and 4,000 contracts of wheat.

- During the period May 1 - 15, corn exports from Brazil were 12,598 tons, which is 9.6% more than in April.

- According to the MARS forecast,the average wheat yield in Turkey will be 2.91 tons/hectare in 2021 (2.97 tons/hectare in 2020 and 2.8 tons/hectare on average for the last five years). The barley yield will be 2.69 tons/hectare (2.65 and 2.66) and corn yield is expected at 9.61 tons/hectare (9.41 and 9.42).

- Tunisia has announced a tender for the purchase of 92,000 tons of soft wheat with delivery within 15.06 - 25.07.2021.

- According to an estimate by AmSpec Agri Malaysia, 1.07 million tons of palm oil were exported from Malaysia over the period of May 1-25, compared to 1.03 million tons last year. In April, exports reached 1.4 million tons (+9.7% compared to March).

- According to the latest forecast of the Ministry of Agriculture of India, the wheat production in the country will reach 108.75 million tons in 2021, which will be a new record. The previous forecast was for a wheat production of 109.24 million tons. Rice production is expected at 121.46 million  and corn production at 30.24 million tons which are record levels. The total grain production in India is projected to reach 305.44 million tons (+7.94 million tons compared to February). The forecast for the oilseed production is 36.57 million tons (37.31), including rapeseed production of 9.99 million tons and soybean production of 13.41 million tons.