Grain Highlights 11.06.2021

From the week starting on 16.06.2021, the export tax of wheat in Russia will be 33.3 USD/ton, 39.6 USD/ton for barley and 48.2 USD/ton for corn.

- According to the June forecast of the USDA, the world's sunseed oil production will reach 21.15 million tons in 2021/22, which is 1.96 million tons more than the expected 19.2 million tons for 2020/21. The sunseed production will be 54.92 million tons (49.72) and the sunseed meal production is expected to reach 22.56 million tons (20.6). The sunseed production in Ukraine will be 16.7 million tons (+2.6), Russia - 14.5 million tons (+1.23), Argentina - 3.4 million tons (+0.5), Turkey -  1.8 million tons (+0.24), the EU - 10 million. tons (+1.15).

- On Thursday, commodity funds in Chicago were net buyers of 10,000 corn contracts and 500 wheat contracts and net sellers of 6,500 soybean contracts.

- In their June forecast, CONAB analysts lowered their forecast for the second corn crop in Brazil in 2020/21 to 69.657 million tons (-12.4% compared to the May estimate and -6.8% compared to 2019/20). The average corn yield will be 4,693 tons/hectare (-12% and -14%). The total corn production will be 96.392 million tons (-9% and -6.1%). Corn exports are projected to reach 29.5 million tons (-5.5 million tons compared to May) and corn imports are expected at 2.3 million tons (+1.3).

- Tunisia bought 50,000 tons of milling wheat at a price of 297.75 USD/ton C&F and delivery in July.

- Philippine Association of Feed Millers PAFMI purchased 50,000 tons of Australian feed wheat at a price of 321 - 324 USD/ton C&F and delivery in July.