Grain Highlights 26.07.2021

According to preliminary estimates of the Ministry of Agriculture of Romania, the wheat production in 2021 will reach a record 12 million tons.

- Following a crop-tour, Stratégie Grains analysts have lowered their forecast for soft wheat production in France in 2021 from 38 million tons to 37-37.5 million tons. The quality of the new wheat crop is assessed as disappointing.

- After the recent rainfall in Germany, the wheat production is likely to fall by 0.15 - 0.2 million tons to 22.8 - 23 million tons.

- According to preliminary estimates of the Ministry of Agriculture of Romania, the wheat production in 2021 will reach a record 12 million tons. About 70% of the wheat will be milled, ie. good quality. The July forecast of the USDA shows a wheat production of 9.5 million tons and the European Commission estimate is 9.7 million tons.

- As of July 23, 2021, 11.8 million hectares of cereals were harvested in Russia and 40.1 million tons of grain were harvested at an average yield of 3.4 tons/hectare (3.39 years earlier and 3.64 tons / hectare in 2019). Wheat was harvested on 9 million hectares, 32 million tons of wheat were harvested at an average yield of 3.56 tons/hectare (3.55 and 3.72). Barley was harvested on 1.6 million hectares, 5.5 million tons of barley were harvested at an average yield of 3.39 tons/hectare (3.29 and 3.57). This is definitely not the strongest year for Russian yields. In the central parts of the country, the yield will be even lower than in previous years. Thus, a total production of 80 million tons becomes unattainable.

- Over the week 28.07 - 03.08.2021, the export tax on Russian wheat reached 31.4 USD/ton (35.2 USD / ton a week earlier). The export tax for barley is 38.5 USD/ton (37.5) and 49.9 USD/ton for corn (51.6).

- Over the period of January - June 2021, the unrefined sunseed oil production in Russia was 2.7 million tons (-17.2% compared to the previous year).

- In June, Ukraine produced 242,890 tons of unrefined sunseed oil, which is 48.2% less than the previous year. Over the period of January - June 2021, total sunseed oil production reached 2.3 million tons (-28.3%). As of 01.07.2021, sunseed stocks in the country were 34% lower than the previous year,, soybean stocks were 10% lower and rapeseed stocks were 74% lower.

- According to Statistics Canada, 598,000 tons of cereals and oilseeds were exported from Canada in the week of July 12-18 (384,000 tons a week earlier), including 262,900 tons of wheat (166,900), 169,100 tons of durum (154,500) and 97,000 tons of canola (20,100). Since the beginning of the season, the export of cereals and oilseeds reach a total of 49.81 million tons (42.6).

- According to data from the Buenos Aires Grain Exchange, 72.2% of the corn areas have been harvested in Argentina as of 21.07.2021, 35.3 million tons of corn have been harvested. The forecast for the total corn production remained at 48 million tons. 97.9% of the planned areas are sown with wheat and 57% of the crops are in good and excellent condition (59% a week earlier).