The European Commission has lowered its forecast for the wheat production in the EU in 2021 to 125.8 million tons (126.2 million tons in the previous estimate and 117.2 million tons in 2020).
CBOT SRW wheat and soybean futures prices fell sharply yesterday. The prices of corn from the old crop have decreased and those of the new corn crop have slightly increased.
SovEcon has raised its forecast for the wheat production in Russia in 2020 by 2.2 million tons to 84.6 million tons. The total grain production is projected at 131 million tons (+1.2).
Chicago wheat futures prices rose yesterday, while corn and soybean futures prices fell. In Paris, wheat futures prices and new corn crop prices decreased minimally, while rapeseed futures prices rose sharply.
In Paris, wheat futures prices fell. The August corn contract remained unchanged, and future contract prices decreased. With rapeseed, all contracts have risen.
Over the week, the export prices of Ukrainian rapeseed from the new crop with delivery within July - August fell by 60 USD/ton to 595 - 605 USD/ton FOB.
According to Refinitiv Agriculture, on 17.06.2021 the FOB prices of sunseed oil with delivery within July - August in Ukraine fell by 100 USD/ton for the day to 1,140 - 1,170 USD/ton FOB.
