Grain Highlights 19.10.2021

According to SovEcon's forecast, the wheat production in Russia will reach 80.7 million tons in 2022, given the good conditions for the development of wheat after the sowing campaign.

- According to the forecast of SovEcon, the wheat production in Russia will reach 75.5 million tons in 2021.

- According to APC-Inform, the export of sunseed oil from Russia reached 3.26 million tons in 2020/21, which is 18% less than the previous year. The biggest buyers were Turkey with a share of 23%, Iran with a share of 22% and China with a share of 13%.

- Over the period of September-October, the largest buyer of Russian wheat is Iran with a total share of 32%.

- According to USDA data, as of October 17, 2021, 52% of the corn areas in the United States have been harvested (+11% for the week and 41% on average for the last five years). Soybeans are harvested in 60% of the areas (+11% and 55%). 70% of the planned areas for winter wheat (+10%) have already been sown.

- Yesterday, commodity funds in Chicago were net buyers of 7,000 lots of corn, 3,000 lots of soybeans and 1,500 lots of wheat.

- According to Conab, as of October 16, 2021, 24% of the planned soybean areas in Brazil have been sown (+12% for the week and 8% a year earlier). Wheat has been harvested on 32% of the areas (+3% and 33%).

- According to GAPKI's forecast, palm oil exports from Malaysia could reach 34.42 million tons in 2021 (34.01)

- Jordan has announced a tender for the purchase of 120,000 tons of durum wheat and 120,000 tons of feed barley of any origin.

- Ethiopia is looking to buy 400,000 tons of milled wheat.

- According to data from the Ministry of Agriculture of Egypt, wheat stocks in the country allow them to meet consumption for the next 5 months. Usually after such a message a tender follows for the purchase of wheat. Stocks of vegoils are enough for 3.5 months.