WEEKLY SUMMARY 51

This is the last weekly report for this year.
We will continue from week 2 of the new 2021!

News from the markets in Bulgaria

  • During the past seven days, there was widespread rainfall, with amounts between 20-50 l / m2, according to NIMH. The amounts for the first ten days of December alone are two to five times higher than the climatic norm. Excessive rainfall has improved the conditions for moisture accumulation in the deep soil layers.
  • Over the next seven days, new rainfall is expected across the country, which will increase soil moisture reserves in depth. In Eastern Bulgaria the forecasted temperatures will exceed the biological minimum for the vegetation processes in winter cereals and winter oilseed rape. In the rest of the country, temperatures will be lower, but critical negative values are not forecast.
  • During the period in wheat and barley will be observed in different phenological phases – 1-3 leaf and twinning. In winter rapeseed, different phases will also be observed – leaf formation and rosette phase.

News from the markets in Europe

  • USDA lowers wheat harvest (soft and hard) in the EU by 0.8 to 135.8Mmt (2019/20 – 154.5Mmt). Exports are unchanged at 26Mmt (38.4), stocks fall by 1.4 to 11.6Mmt (14.3). World production increased by 1.3 to 733.7Mm (765), but stocks still fell by 4 to 316.5Mm (300).
  • The USDA also reduced the EU corn crop by 0.5 to 63.7Mm (66.7). Imports increased by 1 to 20 mm (18.6) and with slightly reduced exports stocks are almost unchanged at 7.3 mm (7.2). World corn production increased by 1 to 1143.6Mm (1116), but even here stocks fell by 2.5 to 289Mm (303.5).
  • The barley harvest in the world has increased by 0.8 to 157.2Mmt (156.9), stocks are almost unchanged at 20Mmt. EU harvest decreased by 0.1 to 63.4Mm (63.2), stocks unchanged at 4.5Mm.
  • World rapeseed production decreased by 0.3 to 68.9Mmt (69.2) and stocks by 0.1 to 5.1Mmt (7). The EU is part of the decline by 0.1 to 16.9Mmt (16.9), and stocks fall by the same amount to 0.56Mmt.
  • There is also a minimal decrease for the production of sunflower in the world, with 0.2 to 49.5 mm, of which 0.1 mm come from the EU, where the harvest drops to 9.2 mm. The production of meal and vegetable oils in the world is growing, but with outpacing growth in consumption, their stocks remain at the lowest levels in many years.

News from the markets in America

  • The USDA left the wheat crop in the United States unchanged at 49.7Mmt (52.6), but increased exports by 0.3 to 26.8Mmt (26.3), which again lowered stocks by 0.3 to 23.5Mmt (28). As expected, the wheat harvest in Australia has increased by 1.5 to 30 mm (15.2). The harvest in Canada was also increased by 0.2 to 35.2 mm (32.7). Argentina is unchanged at 18Mm (19.8).
  • The USDA left unchanged the balances of corn in the United States, with a harvest of 368.5Mmt (346), exports of 67.3Mmt (45.2) and stocks of 43.2Mmt (50.7). Despite expectations of more significant reductions, the corn harvest in Argentina was reduced by only 1 to 49Mmt (51), and in Brazil it was unchanged at 110Mmt (102). Exports of both are unchanged at 34Mmt (37) and 39Mmt (35).
  • The USDA reduced global soybean production by 0.5 to 362Mmt (336.5) and stocks by 0.9 to 85.6Mmt (95.5). The harvest in the USA is unchanged 113.5Mmt (96.7), the export of 59.9Mmt (45.6) is unchanged. With increased consumption, stocks fall by 0.3 to 4.8Mm (14.3). Soybean production in Argentina decreased by 1 to 50 mm (49), and Brazil remained unchanged at 133 mm (126). The export of both 7Mmt (10) and 85Mmt (92) is unchanged. Imports to China remain at a record 100Mmt (98.5).

With the advent of the new year comes the feeling and dream of a new beginning for each of us, let the worries and difficulties remain far behind in the passing year. We wish you a merry welcome to the holidays!

From the team of Si Ko Ltd.