Grain Highlights 07.02.2022

According to data from the Buenos Aires Grain Exchange, as of February 3, 2022, 37% of soybean crops are in good and excellent condition in Argentina (38 weeks earlier and 17% last season).

- In January, 1,017 million tons of grain were exported from the Russian port of Novorossiysk, which is 1/3 less than in January 2021. Exports of wheat were 921,600 tons (1,389 million tons), barley exports reached 35,500 tons (103,600) and corn exports were 59,800 tons (0).

- On Friday, commodity funds in Chicago were net buyers of 1,500 contracts of corn, 5,000 contracts of soybeans and 6,000 contracts of wheat.

- According to Safras & Mercado, as of 04.02.2022, the harvesting campaign of soybeans in Brazil was carried out on 17% of the areas (+6% per week). In Mato Grosso, 46% of the areas have been harvested (+15%). In Parana, 17% of the areas have been harvested (+4%).

- According to data from the Buenos Aires Grain Exchange, as of February 3, 2022, 37% of soybean crops are in good and excellent condition in Argentina (38 weeks earlier and 17% last season). 18% of the crops are in bad and very bad condition (9% a year earlier). 28% of the crops (32% and 24%) of corn are in good and excellent condition and 28% (9%) are in poor condition.

- According to the Australian Bureau of Statistics, 942,700 tons of feed barley, 19,200 tons of malting barley and 78,500 tons of sorghum were exported from Australia in December. 296,100 tons of forage barley was exported to Saudi Arabia, 160,000 tons to Japan and 71,700 tons to Vietnam.

- The South Korean company NOFI has announced a tender for the purchase of 138,000 tons of feed corn and 130,000 tons of feed barley with delivery within May-June.

- In 2022, wheat areas in Iran will reach 5.7 million hectares, which is 5% less than in 2021.

- Syria has announced a tender for the purchase of 200,000 tons of wheat.