Grain Highlights 09.02.2022

According to the Statistical Office of Canada, as of 31.12.2021, the stocks of cereals and oilseeds in the country were 46.67 million tons (-20.8 compared to the previous year).

- According to ProZerno's forecast, the grain production in Russia will be 130.2 million tons in 2022, including wheat production of 83 million tons. In 2021/22, the grain production was 120.7 million tons, including wheat production of 75.9 million tons. ICAR's forecast for the total grain production reaches 127 million tons and the estimate for the wheat production is 82-83 million tons. Rusagrotrans expects a wheat production of 81.4 million tons and the total grain production is projected at 128 million tons. The Russian Grain Union estimates the total grain production at 125-127 million tons and the wheat production at 81 million tons.

- Yesterday, commodity funds in Chicago were net sellers of 8,500 contracts of corn and 7,500 contracts of soybeans and net buyers of 6,000 contracts of wheat.

- According to the Statistical Office of Canada, as of 31.12.2021, the stocks of cereals and oilseeds in the country were 46.67 million tons (-20.8 compared to the previous year). Wheat stocks were 15.5 million tons (-37.8% and expectations 17.3 - 17.9), including soft wheat stocks of 13.47 million tons (-33.4%) and durum wheat stocks of 2.09 million tons (-56.4%). Canola stocks were 7.56 million tons (-43%), barley stocks were 3.14 million tons (-43.6%), soybean stocks were 3.28 million tons (-9%) and corn stocks were 11.53 million tons (+4.1%).

- In 2021, corn imports in Mexico reached 17.5 million tons and domestic corn production reached 27 - 28 million tons.

- In February, 7.5 million tons of soybeans will be exported from Brazil, which is the highest level in history. This estimate is 5.2 million tons higher than in January and 2 million tons higher than in February 2021. Exports of soymeal will be 1.89 million tons (+0.3 and +1) and corn exports are expected at 521,200 tons (2.22 and unchanged).

- For the first time in history, Paraguay buys soybeans from Argentina given the decline in the domestic soybean production. Production losses are estimated at 50%.

- Indonesia is easing restrictions on exports of oils and oil products from the country. Restrictions remain for more specific products, but not for palm oil.

- Jordan bought 60,000 tons of barley at a price of 301.25 USD/ton and delivery within July 1-15.