Over the previous week, the prices of Australian premium white wheat in Southeast Asia were quoted at 318 - 320 USD/ton C&F compared to 310 USD/ton a few weeks earlier.
According to the forecast of TF Agroeconomica, due to the delay in the sowing campaign of second corn crop in Brazil, the areas with winter wheat 2021 will increase.
Over the week, export prices of crude sunseed oil from Ukraine rose by 65 - 70 USD/ton, given rumors that Russia will limit exports of the product. At the same time, demand for exports remained rather weak.
According to the forecast of Agriculture and Agri-Food Canada, wheat production in Canada will reach 32.7 million tons in 2021/22, which is 1 million tons less than the previous estimate. Wheat production was 35.2 million tons in 2020/21.
Given the severe and prolonged frosts in the United States and the lack of sufficient snow cover, 10% of the soft winter wheat crop and up to 15% of hard winter wheat crop in the US Wheat Belt are expected to be severely damaged.
