Grain Highlights 24.08.2021

In their August report, MARS analysts lowered the forecast for the average soft wheat yield in the EU to 5.98 tons/hectare (6.05 in the previous estimate, +4.8% compared to 2020 and +5% compared to the average for the last five years).

- As of August 24, 2021, 30.5 million hectares of cereals were harvested in Russia, 85.6 million tons of grain were harvested at an average yield of 2.81 tons/hectare. 20.2 million hectares were harvested with wheat, 62.7 million tons of wheat were harvested at an average yield of 3.11 tons/hectare (3.13 as of August 23, 2021). As of 24.08.2021, the average wheat yield reaches 3.58 tons/hectare (3.58 as of 23.07.2021). 6.1 million hectares were harvested with barley, 15.2 million tons of barley were harvested at an average yield of 2.48 tons/hectare. 13,100 hectares have been harvested with sunseed, 19,000 tons of sunseed have been harvested at an average yield of 1.45 tons/hectare. The average wheat yield continues to decline rapidly (a drop of 0.02 tons/hectare for a day).

- In their August report, MARS analysts lowered the forecast for the average soft wheat yield in the EU to 5.98 tons/hectare (6.05 in the previous estimate, +4.8% compared to 2020 and +5% compared to the average for the last five years). The barley yield in the EU is projected at 4.99 tons/hectare (4.96 and +4.5%), corn yield is estimated at 7.9 tons/hectare (7.88 and +2%) and the rapeseed yield is expected at 3.21 tons/hectare (3.19 and +5.2%).

- As of August 22, 2021, 60% of corn crops (-2% compared to the previous week) and 56% of the soybeans crops (57%) are in good and excellent condition in the United States. Spring wheat is harvested on 77% of the area (55% average level for the last five years).

- Yesterday, commodity funds in Chicago were net buyers of 2,000 contracts of soybeans and 2,500 contracts of wheat and net sellers of 2,000 contracts of corn.

- Pakistan plans to buy 400,000 tons of milling wheat with delivery within 15.09 - 31.10.2021. Four offers at prices within the range of 355.99 - 379.58 USD/ton were presented at the tender.