OVK Weighbridge, 14 August

The Weekly Weighbridge

14 August 2020

Important facts for the week

•             US farmers are expected to harvest their biggest maize, and second biggest soybean harvests this fall as good summer weather protected the crops through key phases of development.

•             IKAR has increased its estimate for Russia's 2020/21 total grain crop by 1.5 MMT to a total of 129 MMT due to higher yields in some regions. It was its third increase in two weeks as yields are improving in the Central and Volga regions, signalling brighter export prospects for the country after its southern regions were hit by dry weather.

•             China's soybean imports increased by 18% this year through July versus a year ago, as large volumes of soybeans bought cheaply from Brazil arrived in the country. China bought 10.09 MMT of soybeans last month, which is higher than the 8.63 MMT estimated in July 2019.