Grain Highlights 23.07.2021

In their July report, analysts from Agriculture and Agri-Food Canada lowered their forecast for the wheat production in Canada in 2021 by 0.3 million tons to 31.4 million tons (35.2 million tons in 2020).

- According to the European Commission, the wheat production in Romania in 2021/22 will be 9.7 million tons. The wheat production in France will be 36.2 million tons and 22.5 million tons in Germany. According to USDA data, the wheat production in Romania will reach 9.5 million tons (+58% compared to 2020/21).

- The DBV farmers' association kept its forecast for the barley production in Germany in 2021 unchanged at 9.3 million tons (8.7 million tons in 2020). Yields are now good in the range of 6.5 - 8.5 tons/hectare.

- In their July report, analysts from Agriculture and Agri-Food Canada lowered their forecast for the wheat production in Canada in 2021 by 0.3 million tons to 31.4 million tons (35.2 million tons in 2020). Wheat exports estimate was increased by 0.5 million tons to 22.4 million tons (26.8) and ending wheat stocks are now projected at 4.9 million tons (-0.2 million tons and 4.7 million tons). The soybean production is estimated at 2.4 million tons (+0.1 and 2.4), corn production is expected at 14.3 million tons (+0.4 and 13.6) and the rapeseed production is predicted at 19.9 million tons (-0.2 and 18.7). Domestic rapeseed consumption will be 10.1 million tons (10.4 million tons in 2020) and rapeseed exports are projected at 9.9 million tons (10.9). Durum production is expected to reach 5.8 million tons (6.6) and barley production is projected at 10.9 million tons (10.7).

- According to Oil World, 4.09 million tons of soybeans were processed in Argentina in June, compared to 4.3 million tons in May. Due to disrupted logistics, the export of some crops was reduced. Stocks of soymeal increased to 1.17 million tons (914,000 tons a month earlier and 771,000 tons a year earlier). Soyoil stocks reach 284,000 tons (+2,000 and 360,000). In June, 365,000 tons of sunseed (335,000 and 269,000) were processed in the country.

- According to Oil World, 6.7 million tons of cereals were imported to China in June (+100% compared to May and 5.99 million tons in June 2020). Grain supplies from the United States reached a record 3.38 million tons, including corn imports of 2.17 million tons, sorghum improts of 0.95 million tons and wheat imports reached 0.26 million tons. Total corn imports during the month reached 3.57 million tons (3.15 million tons and 882,000 tons), including 1.4 million tons from Ukraine. Sorghum imports were 1.1 million tons (+78.5% and 682,000 tons). Imports of barley were 998,000 tons (1.11 million tons and +220%) and wheat imports were 752,000 tons (785,000 and -16%).

- Iran has refused to buy 60,000 tons of milling wheat of any origin and delivery within August-September due to high prices.