Grain Highlights 29.12.2021

In 80% of the corn areas in Brazil, there is a shortage of precipitation. Given this, the forecast for the first corn production (by local analysts) has been lowered from 29 million tons to 24 million tons.

- Over the period of August-November, rapeseed processing in Russia reached a record 830,000 tons (661,000 a year earlier).

- Yesterday, commodity funds in Chicago were net sellers of 9,500 contracts of corn, 1,500 contracts of soybeans and 7,500 contracts of wheat.

- In 80% of the corn areas in Brazil, there is a shortage of precipitation. Given this, the forecast for the first corn production (by local analysts) has been lowered from 29 million tons to 24 million tons. Against the background of the lowest domestic stocks of corn since 2013, domestic prices have risen to 295 - 300 USD/ton. Drought is also reported in another major corn producer in the world - South Africa.

- In 2021, wheat production in Brazil reached a record 7.8 million tons, which is 25% more than the previous year.

- According to Anec, Brazil's soybean exports reached 2.78 million tons in December (2.15 in November and 161,000 in December 2020). Over the period of 26.12.2021 - 01.01.2022, 655,800 tons of soybeans have been prepared for export from Brazilian ports. Thus, for the whole of 2021, exports will reach a total of 86.88 million tons (82.29). In December, corn exports were 3.45 million tons (2.67 and 3.82). Corn exports for 2021 totaled 20.68 million tons (33.39).