Milling & Baking News - December 1, 2020 - 31

Ingredient Market Trends
Weekly Spotlight

Argentine and Australian wheat
harvests underway

T

crop at 18 million tonnes, down 1 million tonnes from the October projection,
down 1.76 million tonnes, or 9%, from
19.76 million tonnes in 2019-20 and compared with 17.5 million tonnes as the
recent-five year average crop size (the
five-year average was pulled down by
the drought-reduced outturn in 2015-16
at 11.3 million tonnes).
" The latest USDA Foreign Agricultural Service GAIN report from the
country and industry reports support
a revised area harvested projection at
6.4 million hectares, a slight increase
from the October estimate, " the USDA's
Economic Research Service said in its

was projected at a record 1,073.14 million tonnes, up 24.09 million tonnes from
1,049.05 million tonnes in 2019-20.
The Northern Hemisphere wheat harvest was completed with production estimates by nation subject to tweaks but
probably no large adjustments in coming weeks.
Price Indicators
The USDA forecast the Australian crop
2
3
at 28.5 million tonnes, up 13.3 million
THIS LAST WEEKS WEEKS
tonnes, or 88%, from 15.2 million tonnes
WEEK WEEK AGO AGO
in 2019-20 and compared with 17.6 milPan-bread flour
lion tonnes in 2018-19. As forecast, the
Wheat futures,
2020-21 Australian crop would be that
KC, Dec.
nation's largest since the record outHard winter
turn of 31,819,000 tonnes in 2016-17 and
premiums,
would compare with 21.6 million tonnes
12.2% protein
as the recent five-year average outturn.
Millfeed, KC,
The forecast rebound in Australian
30-day
wheat production was attributed to a reSoybean oil
turn to normal weather patterns followCane sugar
ing three years of drought.
Cocoa
The USDA forecast the Argentina

November Wheat Outlook. " However,
continued dryness caused by La Niña
conditions and associated crop stress led
to a 0.21-tonne-per-hectare reduction in
yields, now projected at 2.81 tonnes, an
eight-year low. The Argentine wheat harvest is now in its early stages, and crop
conditions ratings have slowly eroded,
despite recent - albeit limited - rains. "
The ERS said that Argentina's Bolsa
de Cereales on Nov. 5 reported that
42% of the wheat was estimated to be
in poor to very poor condition, and the
poor quality was expected to encourage
some farmers to graze their wheat fields
instead of harvesting the crop for grain.
The ERS said the next release of official government data for Argentina
was expected in December and should
clarify the picture of how much dry conditions have affected the size of the local
wheat crop - both in terms of harvested
area and yields. MBN

Indexes
Shortbread Cookie Ingredients

©CHRIS - STOCK.ADOBE.COM

he global wheat supply for 202021 will be better known in the next
few weeks with combines taking
to the fields in Argentina and Australia.
While Australian wheat production was
expected to rebound smartly from poor
outturns in recent years, Argentina's
crop prospects were less promising.
The US Department of Agriculture on
Nov. 10 forecast 2020-21 world wheat production at a record 772.38 million tonnes,
up 7.44 million tonnes from 764.94 million tonnes in 2019-20, the current record.
With 2020-21 world wheat beginning
stocks estimated at 300.76 million tonnes,
the total world wheat supply for 2020-21

Pasta Ingredients

31 / November/7,world-grain.com
2017
Milling & Baking News
bakingbusiness.com

bakingbusiness.com
/ world-grain.com
Milling & Baking
News
December
1, 2020 / 31
http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - December 1, 2020

Table of Contents for the Digital Edition of Milling & Baking News - December 1, 2020
