Grain Highlights 07.06.2021

On 07.06.2021, ICAR raised its forecast for the wheat production in Russia in 2021 by 0.5 million tons to 80 million tons.

- In April, 202,700 tons of soybeans were imported to Russia and 7,700 tons were exported.

- On Friday, commodity funds in Chicago were net buyers of 27,500 contracts of corn, 22,500 contracts of soybeans and 7,000 contracts of wheat.

- Over the week of May 21-27, 221,700 tons of soybeans were exported from the United States, which is 25% less than the previous week. Corn exports were 2.13 million tons (+15%) and wheat exports reached 243,200 tons (-54%).

- According to the Statistical Office of China, soybean imports reached 9.61 million tons in May compared to 7.45 million tons in April and 9.38 million tons in May 2020. In the first 5 months of the year, soybean imports reached a total of 38.23 million tons (+12.8%). In June and July, imports will be around 10 million tons each month.

- According to the Australian Bureau of Statistics, 2.49 million tons of wheat were exported from Australia in April, which is 8% more than in March - 2.3 million tons. From the beginning of the season (01.10.2020), wheat exports reach 13.1 million tons.

- The grain production in Tunisia is expected to reach 1.65 million tons (+7% compared to 2020) including durum wheat production of 1.07 million tons, soft wheat production of 0.16 million tons and barley production of 0.4 million tons.

- Algeria has announced a tender for the purchase of 50,000 tons of soft wheat with delivery within July - August.

- Egypt is looking to buy 30,000 tons of soybeans and 10,000 tons of sunseed oil with delivery in August.

- In 2021, the grain production in Algeria will decrease by 35 - 40% compared to 2020 due to the drought in the country. In 2020, production reached 5 million tons.

- On June 2, 2021, Iran purchased 195,000 tons of milling wheat of any origin and delivery in June-July.