Grain Highlights 06.10.2021

The Ministry of Agriculture of Russia lowered its forecast for grain exports from the country in 2021/22 to 45-48 million tons compared to 51 million tons in the previous estimate.

- According to the forecast of Rusagrotrans, the wheat production in Russia will reach 75 - 77 million tons net weight in 2021/22. The total grain production is estimated at 119-121 million tons, barley production is projected at 18 million tons and the corn production is expected to reach 14 million tons. Wheat exports during the season will reach 32 - 33 million tons (39.2 in 2020/21).

- According to an estimate by the Ministry of Agriculture of Argentina, farmers in the country have sold 31 million tons of soybean from the 2020/21 crop (32.7 years earlier). Over the week of September 23-29, 464,200 tons of soybeans were sold, which is below the previous year's figure. The 2020/21 production was harvested in June and the total soybean production is estimated at 43.1 million tons, according to the Buenos Aires Grain Exchange.

- Pakistan has announced a tender for the purchase of 90,000 tons of wheat with delivery in January 2022.