In their May forecast, IGC analysts lowered their forecast for the world's ending wheat stocks in 2021/22 to 287.9 million tons from 298.1 million tons in the estimate from the previous month and 284.4 million tons a year earlier.
According to a forecast of the Australian company IKON Commodities, the wheat production in Australia will reach 29.5 million tons in 2021/22 compared to 34.8 million tons in 2020/21.
According to Refinitiv's forecast, wheat areas in Russia will be 28.26 million hectares in 2021 (29.4 million hectares in 2020). With an average yield, the wheat production will reach 78.6 million tons.
In March, a record 498,000 tons of sunseed oil were exported from Russia (+71% compared to February and +5% compared to the previous record of 575,000 tons set back in August 2020).
Over the period of January - April, 1.74 million tons of sunseed oil were exported from Ukraine, which is 31% less than the previous year or -2.53 million tons.
SovEcon raised its forecast for the wheat production in Russia in 2021 from 80.7 million tons to 81.7 million tons. Growth is mainly due to the larger wheat areas in Russia.
