Grain Highlights 25.10.2021

According to the forecast of the FAS USDA, the wheat production in Australia will reach 31.5 million tons in 2021/22, which is 30% more than the average level for the last 10 years.

- Over the week of October 18-24, 329,400 tons of grain were exported from the Russian port of Novorossiysk, including 263,400 tons of wheat. Compared to the previous week, the amount of grain has decreased by 15%.

- According to a preliminary estimate of Ukroliyaprom, the production of vegetable oils in Ukraine was 6.126 million tons in 2020/21, including sunseed oil production of 5.8 million tons. The export of oils was 5.613 million tons, including sunseed oil exports of 5.277 million tons. The largest buyers were India with a share of 29.7%, the EU with a share of 28.4% and China with a share of 20.1%.

- On Friday, commodity funds in Chicago were net buyers of 3,500 contracts of corn and 7,500 contracts of wheat and net sellers of 2,500 contracts of soybeans.

- Over the week of October 11 - 17, exports of cereals and oilseeds from Canada were 647,100 tons (885,300 weeks earlier) according to StatCan. Exports of wheat were 95,800 tons (205,300), durum exports reached 64,100 tons (73,300), canola exports were 185,400 tons (268,200), barley exports reached 153,700 tons (134,400) and soybean exports were 116,500 tons (101,300). Since the beginning of the season, exports of wheat have totaled 1.06 million tons (1.07), canola exports have totaled 1.98 million tons (2.52), durum exports have totaled 735,200 tons (774,100) and barley exports have totaled 693,400 tons (540,500).

- According to Safras & Mercado, soybean areas in Argentina will be 16.3 million hectares in 2021/22 compared to 16.6 million hectares in 2020/21. The 2021/22 soybean production in Argentina is expected to reach 46 million tons.

- According to the forecast of the FAS USDA, the wheat production in Australia will reach 31.5 million tons in 2021/22, which is 30% more than the average level for the last 10 years. Exports will reach 23 million tons, which is 1 million tons below the level of 2020/21. The largest customers last season were Indonesia with 3.9 million tons and Vietnam with 2.3 million tons. The barley production is projected at 12 million tons and the sorghum production is estimated at 1.6 million tons.

- The authorities in Pakistan plan to reduce import taxes on vegetable oils. The reduction will be about 50%.

- Pakistan has received several bids in the tender for the purchase of 90,000 tons of wheat with delivery in January. Prices were in the range of 394.38 - 399.69 USD/ton C&F.

- Tunisia bought 50,000 tons of soft wheat at prices within 373.45 - 373.85 USD/ton C&F and 50,000 tons barley at prices within 349.22 - 346.05 USD/ton C&F and deliveries over November - December.