Grain Highlights 04.08.2021

According to the forecast of UkrAgroConsult, the sunseed production in Bulgaria will reach 2,057 million tons in 2021, which will be above the current record set back in 2017.

- According to the FAS USDA forecast, the wheat production in the UK will be 15 million tons in 2021/22  (+5 million tons compared to 2020/21). The barley production is estimated at 7.2 million tons.

- Yesterday, commodity funds in Chicago were net sellers of 9,000 contracts of corn, 14,500 contracts of soybeans and 3,000 contracts of wheat.

- According to Anec's forecast, 3.1 - 4 million tons of cornwill be exported from Brazil in August compared to 6.7 million tons in August 2020. Soybean exports will within the range of 4.9 - 6.5 million tonns (9 in July and 5.6 in August 2020) . Soymeal exports are projected at 1.1 million tons (1.6).

- As of 01.08.2021, 49% of the wheat areas have been harvested in Brazil, which is +10% for the previous week. AgRural expects a wheat production of 84 million tons.

- Turkey bought 515,000 tons of feed barley with delivery within September 1-15.

- According to the latest FAS USDA forecast, the wheat production in Turkey will reach 16.5 million tons in 2021 compared to the initial April forecast of the USDA of 17.6 million tons. Domestic wheat consumption is projected to reach 22 million tons (+1.4 million tons compared to 2020/21) and wheat imports will be 11.25 million tons, which is a record high level. Exports of wheat are expected to reach 6 million tons (-0.3 million tons compared to 2020/21). The forecast for the barley production is now 4.5 million tons (7.7 initially), barley consumption is expected at 7.5 million tons and barley imports are predicted at 2.5 million tons. The corn production is estimated at 6.8 million tons, domestic corn consumption is expected at 9.3 million tons (+0.5) and corn imports are projected at 2.8 million tons.

- Egypt's state-owned company GASC has canceled a tender to buy 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery in October due to high prices.

- Pakistan has announced a tender for the purchase of 400,000 tons of wheat with delivery within September - October.