Grain Highlights 30.08.2021

According to the Ministry of Agriculture of Ukraine, the wheat production in the country will reach a record 31.2 million tons in 2021 compared to 24.9 million tons in 2020 and an estimate of 28.8 million tons made in August.

- SovEcon has lowered its forecast for wheat exports from Russia in 2021/22 to 33.9 million tons (-3.2 compared to the previous estimate). This will be the lowest level since 2016/17 when wheat exports were 27.8 million tons.

- On Friday, commodity funds in Chicago were net sellers of 3,000 contracts of soybeans and 3,000 contracts of wheat and net buyers of 2,500 contracts of corn.

- According to data from the Buenos Aires Grain Exchange, as of 25.08.2021, 32% of the wheat crops are in good and excellent condition in Argentina (37% a week earlier and 18% a year earlier) and 40% in a satisfactory condition (39% and 38%). The wheat production is expected to reach 19 million tons (17 million tons in 2020).

- Algeria has announced a tender for the purchase of at least 50,000 tons of milled wheat with delivery within September-October.

- Pakistan has announced a tender for the purchase of 550,000 tons of wheat of any origin and delivery in October.