Analysts from the USDA lowered their forecast for the global wheat production in 2020/21 to 772.6 million tons (773.6 million tons in December and 763.9 million tons in 2019/20).
In the most recent report, USDA analysts lowered their forecast for world corn exports in 2020/21 to 181.36 million tons from 184.66 million tons in the previous estimate, mainly due to a decrease in corn exports for the US (-2) and Argentina (-1.5).
In their January report, analysts from the USDA lowered their forecast for the global soybean production in 2020/21 to 361 million tons (362 million tons in December and 336.5 million tons in 2019/20).
The Ministry of Agriculture of China has increased its forecast for the import of corn in the country in 2020/21 to 10 million tons, which is 42.86% more than the estimate from the previous month and 31.5% more than 2019/20.
As of January 11, 2021, Argentine farmers have gone on a 72-hour strike against the government's decision to suspend corn exports. Farmers have called on President Alberto Fernandez to reconsider the decision.
Malaysian palm oil futures rose sharply on 04.01.2020. The growth is related to preliminary estimates for the palm oil stocks in the country to the lowest level for the last 13 years - 1.22 million tons.
