Russia – sharp cut in wheat forecasts

There has been a dramatic cut in the forecast for Russian wheat production in 2021 due to the loss of an estimated 3.2m hectares of plantings from winter kill. Russian market analyst SovEcon has reduced its forecast for Russian wheat production in 2021 from 81m tonnes to less than 77m tonnes.

China – soya bean imports to hit 100m tonnes

The US Department of Agriculture is forecasting that China will import 100m tonnes of soya beans in 2021, up from the 98.5m tonnes it imported this year. The EU is forecast to import more than 15m tonnes of soya beans in 2021.

US – bumper maize crop expected in 2021

The US Department of Agriculture is predicting that US farmers will produce a bumper maize (corn) harvest in 2021 that will be close to 370m tonnes. If realised, this would be a huge increase on the 346m tonne maize crop produced in the US this year.

Argentina – wheat exports to fall next year

Argentinian wheat exports are expected to fall in 2021 due to lower production. The USDA forecasts that Argentinian wheat production will fall by almost 2m tonnes to just 18m tonnes in 2021. The lower production will mean a drop in Argentinian wheat exports to 12.5m tonnes.