Grain Highlights 05.08.2021

The Ministry of Agriculture of France has lowered its forecast for the soft wheat production this season by 0.4 million tons to 36.69 million tons, which is 26% more than 2020/21.

- As of 05.08.2021, 20.8 million hectares of cereals have been harvested in Russia, 65.9 million tons of grain have been harvested at an average yield of 3.16 tons/hectare (3.48 in 2020). Wheat was harvested on 14.7 million hectares, 50.2 million tons of wheat were harvested at an average yield of 3.43 tons/hectare (3.67). 4 million hectares were harvested with barley, 11.3 million tons of barley were harvested at an average yield of 2.79 tons/hectare (3.24).

- Over the period of July 1 - 29, 1.7 million tons of wheat were exported from Russia, which is 34% less than the previous year. Exports of barley were 411,500 tons (-22%).

- As of 02.08.2021, the quality of Russian wheat within classes 1 - 4 is 87.7% of the total wheat production compared to 71.7% in 2020/21.

- In the first three weeks of the season, 3.3 million tons of grain were exported from Ukraine, which is 1.3% more than the previous year. Exports of barley reached 1.2 million tons (+16%), corn exports were 983,000 tons (498,000) and wheat exports reached 1.05 million tons (-37%).

- The Ministry of Agriculture of France has lowered its forecast for the soft wheat production this season by 0.4 million tons to 36.69 million tons, which is 26% more than 2020/21. The barley production is projected at 11.69 million tons (+0.4 million tons and +12%). The corn production is estimated at 12.88 million tons (-3% compared to the previous season).

- The German Farmers' Association DBV has lowered its forecast for the winter wheat production in Germany in 2021 from 22.82 million tons in July to 21 million tons now, which is at last year's level.

- Yesterday, commodity funds in Chicago were net sellers of 5,000 corn contracts and 4,500 wheat contracts and net buyers of 3,000 soybean contracts.

- Turkey has bought 245,000 tons of wheat of any origin at a price of 297.40 - 308.9 USD/ton C&F.