Grain Highlights 23.09.2021

Egypt bought only 12,000 tons of sunseed oil with delivery within December 1-15 and at a price of 1,289 USD/ton C&F.

- In 2021, the quality of Russian wheat is very good given the weather conditions, unlike Romania, Ukraine, France and Poland. Countries with high requirements for the quality of purchased wheat, such as Iran, Saudi Arabia and Algeria, will buy exclusively from Russia, although Algeria is a traditional customer of Western European wheat.

- As of September 22, 2021, 39.2 million hectares of cereals have been harvested in Russia, including:

  • 25.6 million hectares of wheat or 72.9 million tons
  • 7.5 million hectares barley or 17.9 million tons
  • 448,700 hectares of corn or 2 million tons
  • 2.5 million hectares have been harvested with sunseed and 4.1 million tons of sunseed have been harvested

The sowing of winter crops was carried out on 10.1 million hectares.

- In 2023, palm oil will not be used for biodiesel production in Germany. In 2020, the share of its consumption in this industry was 3.9%.

- Yesterday, commodity funds in Chicago were net buyers of 8,500 contracts of corn, 5,500 contracts of soybeans and 10,000 contracts of wheat.

- According to Anec, soybean exports from Brazil will be 5.04 million tons in September compared to 5.79 million tons in August and 3.92 million tons in September 2020. Over the week of September 19-25, Brazil exported 1.31 million tons soy (950,800 a week earlier). Over the period of January-September 2021, soybean exports will reach 79.3 million tons. Soymeal exports during the month are projected at 1.72 million tons (1.28 and 1.32) and 13.01 million tons for the nine months (13.05).

- Enough rain has fallen in the southern parts of Brazil over the last month, so that now the sowing of the first corn crop is proceeding normally - 22% of the planned areas have already been sown (+6% for the week).

- In 2020/21, China was a major buyer of Ukrainian corn with a share of 36% ahead of the EU, Egypt, South Korea, Turkey, Britain and Southeast Asian countries.

- Egypt bought only 12,000 tons of sunseed oil with delivery within December 1 - 15 and and at a price of 1,289 USD/ton C&F. Other offers for sale of sunseed oil were available at prices of 1,314 - 1,328 USD/ton. Offers for the sale of soyoil were at prices within the range of 1,340 - 1,378 USD/ton C&F. We will see a higher demand for oil in early October. The biggest buyers Egypt, India and China expect a drop in oil prices. Their oil prices are now 50 - 100 USD/ton below those offered by traders. The harvesting campaign in Ukraine is delayed by about 2 weeks due to the wet weather. The first batches have a low fat content of 37 - 48%.

- The Philippines bought 112,000 tons of feed wheat, most likely from Australia at a price of 350 USD/ton C&F and delivery within December - January. A tender has been announced for the purchase of 224,000 tons of feed wheat with delivery within October-January.

- Algeria bought 300,000 - 500,000 tons of durum, most likely from Mexico and Canada at a price of 620 - 640 USD/ton C&F and delivery in November.