Grain Highlights 20.06.2021

19 Jun, 2021
Grain Highlights 20.06.2021
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.

- In the week starting on June 23, 2021, the export tax on Russian wheat will be 38.1 USD/ton (33.3 USD/ton a week earlier). The export tax on barley will be 39.6 USD/ton (unchanged) and on corn 50.2 USD/ton (48.2). Duties are calculated at export prices of wheat of 254.5 USD/ton (247.7), barley - 241.7 USD/ton (unchanged) and corn - 256.8 USD/ton (253.9).

- According to Refinitiv Agriculture, on 17.06.2021 the FOB price 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. At the end of the day, the data show prices of 1,060 - 1,070 USD/ton. In recent months, demand for sunseed oil has been very low due to its high prices. The stocks in the ports are about 400,000 tons, which is not a very large volume, but it still has an impact on the market.

- On Thursday, commodity funds in Chicago were net sellers of 30,000 contracts of corn, 30,000 contracts of soybeans and 15,000 contracts of wheat.

- Brazil is expected to export 11.5 million tons of soybeans in June (11.92 million tons in June 2020 and 14.22 million tons in May 2021). In the week of June 6 - 12, soybean exports reached 2.22 million tons and in the week of June 13 - 19, soybean exports were 2.63 million tons. Since the beginning of the year, soybean exports reach a total of 61.88 million tons. Soymeal exports in June reached 2.13 million tons (1.39 and 1.7). Exports of corn are not expected in June compared to 787,800 tons a year earlier. There were also no exports in May (2,812 million tons). Over the period of January-May, soybean exports from Brazil to China reached 33.9 million tons (+12.8%).

- According to data from the Buenos Aires Grain Exchange, as of June 16, 2021, 99.4% of soybean crops have been harvested in Argentina. 43.3 million tons of soybeans were harvested at an average yield of 2.67 tons/hectare. For the whole season, the yield is projected at 2.66 tons/hectare, which will be the lowest level since 2017/18.

- The Malaysian Palm Oil Council will keep the export tax on palm oil in July at 8%.

- Turkey has announced a tender for the purchase of 395,000 tons of milled wheat with delivery within 19.07 - 21.08.2021 and 320,000 tons of barley with delivery within 02.07 - 1807.2021.