Grain Highlights 01.09.2021

Algeria has purchased 390,000 - 400,000 tons of milling wheat of any origin at a price of 353 - 356.6 USD/ton C&F.

- SovEcon has lowered its forecast for the wheat production in Russia in 2021/22 from 76.2 million tons to 75.4 million tons.

- Yesterday, commodity funds in Chicago were net sellers of 12,500 contracts of corn, 6,500 contracts of soybeans and 2,500 contracts of wheat.

- According to AgRural data, as of August 29, 2021, 89% of the corn areas in Brazil have been harvested (+10% for the week). Yields are rated as very low and quality is assessed as poor.

- Turkey has announced a tender for the purchase of 245,000 tons of feed barley with delivery within 15.09 - 08.10.2021.

- Egypt has announced a tender for the purchase of 40,000 tons of vegetable oils (30,000 soybean and 10,000 sunseed) with delivery within 16.10 - 02.11.2021. 3,000 tons of soyoil and 1,000 tons of domestically produced sunseed oil will also be purchased.

- Algeria has purchased 390,000 - 400,000 tons of milling wheat of any origin at a price of 353 - 356.6 USD/ton C&F. Suppliers will be Poland, Germany and probably Franceand delivery will take place in October.

- Iran bought 180,000 - 240,000 tons of wheat from Russia at a price of 300 - 305 USD/ton FOB and delivery in October.