- Rapeseed demand is expected to grow after Germany sets an ambitious target to limit greenhouse gas emissions by 6% in 2021, to 7% in 2022 and a total of 25% by 2030. This will increase biodiesel consumption. At the same time, palm oil consumption will be limited to 0.9% in 2022 and it will banned in 2023. This will significantly increase the demand for rapeseed throughout the biodiesel production process.
- MARS forecasts that the average yield of soft wheat in the EU will reach 6.01 tons/hectare in 2021 (5.19 tons/hectare in their May estimate and +5% compared to 2020). The yield from winter barley is projected at 5.9 tons/hectare (5.89 and +9%) and corn yield is estimated at 7.87 tons/hectare (7.81 and +8%). The rapeseed yield is expected to reach 3.23 tons/hectare (3.21 and +2%) and sunseed yield is predicted at 2.20 tons/hectare (2.21 and +10%).
- Yesterday, commodity funds in Chicago were net sellers of 15,000 contracts of corn, 12,500 contracts of soybeans and 5,500 contracts of wheat.
- According to a survey by Reuters, the corn production in Brazil will fall to 94 million tons in 2020/21 (102.5 million tons in 2019/20). The lowest estimate for the corn production in Brazil is given by IHS Markit - 88 million tons and the highest by the state Safras & Mercado - 104.1 million tons.
- AgRural estimates the corn production in Brazil at 90.9 million tons.
- Celeres projects the corn production in Brazil at 88.8 million tons.
- According to Conab, corn production in Brazil will reach 96.4 million tons in 2020/21.
- According to StoneX's forecast, corn production in Brazil will reach 89.7 million tons.
- USDA expects the corn production in Brazil in 2020/21 to reach 98.5 million tons.
Celeres expects corn exports to reach 22.5 million tons (32 million tons in 2019/20) and corn imports are estimated at 4 million tons in 2020/21.
- According to Anec's forecast, soybean exports from Brazil will reach 10 - 11 million tons in June (14.2 million tons a month earlier and 11.9 million tons in June 2020). In June, soymeal exports are projected at 2 million tons (1.7 and 1.4). Corn exports are expected to reach 123,900 tons (0 and 787,800 tons).
- As of 01.06.2021, grain stocks in Ukraine reached 6.9 million tons (+14% compared to a year earlier). Wheat stocks were 2.4 million tons (+8%), corn stocks were 3.63 million tons (+16%) and barley stocks reached 498,000 tons (-28%). Sunseed stocks reached 1.4 million tons (2.24 million tons).
- On June 22, 2021, the Egyptian state company GASC purchased 73,500 tons of vegetable oils, including 60,000 tons of soyoil at a price of 1,184 USD/ton C&F and 10,000 tons of sunseed oil at a price of 1,133 USD/ton C&F. Egypt's strategic stocks will be enough to meet domestic oil consumption for the next 6.5 months.
- Ethiopia has announced a tender for the purchase of 400,000 tons of wheat.
- In the first 7 months of 2020/21, 2.42 million tons of palm oil were exported from Malaysia to India, which is 2.4 times more than the previous year.