Russia: Grains and soybean market overview - August 2021

Published 2021년 8월 27일

Tridge summary

The global grain production forecast for 2021/22 has been revised down by 12 million tons to 2,283 million due to lower than expected harvests of wheat and coarse grains in Canada, Russia, and the United States. Consumption is also expected to decrease by 7 million tons. Despite lower demand, grain stocks are declining and global grain trade is projected to decrease for the first time in three years. However, global rice trade is expected to increase by 7% in 2021. The IGC GOI Index, which tracks the market price of major grains, rose by 2% in August.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

HIGHLIGHTS Mainly due to lower than previously estimated harvests of wheat and barley in Canada, Russia and the United States, the forecast for global grain production (wheat and coarse grains) in 2021/22 has been reduced by 12 Mt / m / m (by month) to 2,283 million, up 3% yoy (yoy). Consumption forecast has been reduced by 7 million tons. m / m, mainly due to lower feeding rates for wheat and barley amid tighter supply prospects. Despite weaker-than-anticipated demand, wheat and barley stocks are declining, causing projected total grain stocks to decline by 5 million tonnes m / m.World grain trade (July / June) is 415 million tonnes, 4 million tonnes lower m / m, including the reduction in wheat, corn and barley reports oilworld.ru with reference to IGC. Tied to smaller-than-expected supplies from South America to Asia, soybean trade forecast for 2020/21 (Oct / Sep) declines further, 166 MT, -3% YoY Due to understated forecasts for US, Argentina and India, global production in ...

Source: Oilworld