Grain Highlights 01.06.2021

According to the forecast of Safras & Mercado, the corn production in Brazil will reach 95.24 million tons in 2021 compared to 106.83 million tons in 2020.

- SovEcon projects that wheat exports from Russia in 2021/22 will reach 36.6 million tons compared to 37.7 million tons in 2020/21.

- In May, 723,250 tons of grain were exported from the Russian port of Novorossiysk, which is 19.7% less than in April and 22.6% less than in May 2020. This is the lowest monthly level for the current season. Wheat exports were 232,091 tons (-53.6% and -66.1%).

- Over the period of January - April 2021, farmers in Ukraine sold 2,055 million tons of sunseed compared to 2.781 million tons a year earlier.

- Strategie Grains has lowered its estimate for EU sunseed production in 2021/22 from 9.9 million tons to 9.88 million tons and 8.68 million tons in 2020/21. The rapeseed production is projected at 16.82 million tons (16.78 and 16.45).

- According to the forecast of Safras & Mercado, the corn production in Brazil will reach 95.24 million tons in 2021 compared to 106.83 million tons in 2020. Corn exports will be 23.9 million tons (34.86) and corn imports will be 2.25 million tons (1.45). The ending corn stocks will be 3.71 million tons.

- Iran has announced a tender for the purchase of 60,000 tons of milled wheat of any origin and delivery June - July. Tenders will also be held for the purchase of 30,000 tons of soymeal and 30,000 tons of sunseed oil.

- According to AmSpec Agri Malaysia, palm oil exports from Malaysia reached 1.423 million tons in May and palm oil exports were 1.4 million tons in April and 1.26 million tons in May 2020.

- The authorities in Egypt have bought 3.2 million tons of wheat from local farmers compared to the planned 3.9 million tons. Egypt's wheat stocks are sufficient to meet consumption for the next 6 months.