Grain Highlights 17.02.2022

According to Chinese analysts, China could reduce domestic consumption of soybeans by about 30 million tons by further reducing its consumption in feed.

- In 2022, soybean areas in Ukraine will increase to 1.6 - 1.7 million hectares compared to 1.3 million hectares in 2021.

- Yesterday, commodity funds in Chicago were net buyers of 9,000 contracts of corn and 21,500 contracts of soybeans and neutral to wheat.

- In 2021, soybean processing in Paraguay reached 2.8 million tons, which is the lowest level since 2013 and is 0.5 million tons below the level of 2020. In the second half of 2022, the processing capacity in the country will be reduced to 30 - 40% due to the expected poor soybean production.

- According to Chinese analysts, China could reduce domestic consumption of soybeans by about 30 million tons by further reducing its consumption in feed. In 2021, the use of soymeal was reduced by 15.3%, which is 2.4% below the level of 2020. In 2022, soymeal consumption is expected to decrease by another 23 million tons.

- The Egyptian state company GASC has purchased 34,500 tons of vegetable oils with delivery on April 5 - 25, including 28,500 tons of sunseed oil at a price of 1,463 USD/ton and 6,000 tons of soyoil at a price of 1,567 USD/ton. The big difference in quantities is usually in favor of soyoil, but now it is the opposite.

- According to preliminary data, Algeria has bought 120,000 tons of milling wheat, most likely from the Black Sea region at prices of 345.5 - 346 USD/ton C&F and delivery within March - April.