Grain Highlights 22.10.2021

In the week starting on 27.10.2021, the export tax on Russian wheat will be 67 USD/ton (61.3 USD/ton for the previous week).

In the week starting on 27.10.2021, the export tax on Russian wheat will be 67 USD/ton (61.3 USD/ton for the previous week), the export tax on Russian barley will be 45.9 USD/ton (42.6), the export tax on Russian corn will be 49.7 USD/ton (48.4).

- On Friday, commodity funds in Chicago were net sellers of 8,000 contracts of corn, 11,500 contracts of soybeans and 6,000 contracts of wheat.

- According to Datagro data, as of 17.10.2021, 56.6% of the planned areas for corn of the first corn production in Brazil have been sown (+1.5% for the week), 42.8% in 2020 and 43.6% on average for the last five years. The fallen rains increase the optimism for a good corn production.

- As of 21.10.2021, the quotation of soyoil in Dalian reaches the record for the recent years (since October 2012) of 1,606.09 USD/ton.

- Rabobank estimates the new wheat 2020/21 production in Australia at 31.9 million tons (-4% compared to 2019/20 and +35% compared to the average five-year level) and the barley production is projected at 11.7 million tons (-10% and +7%). The canola production is expected to reach 5.2 million tons (+14% and +48%). In 2021/22, exports of wheat from Australia are estimated at 24.5 million tons, barley exports are expected at 7.8 million tons and canola exports are projected at 4.3 million tons.

- According to the FAS USDA forecast, wheat imports to Egypt will be 12.4 million tons in 2021/22 (12.14 in 2020/21). With a domestic production of 9 million tons (8.9 in 2020/21), supply will reach 21 million tons.

- As of October 22, 2021, 15.8 million hectares of cereals were harvested in Kazakhstan (99.7%) and 16.1 million tons of grain were harvested at an average yield of 1.02 tons/hectare. The harvested wheat reaches 11.8 million tons.