Grain Highlights 25.04.2022

Algeria has announced a tender for the purchase of at least 50,000 tons of durum wheat with delivery within 16.05 - 30.06.2022. Algeria's wheat stocks are enough to meet domestic demand for 8 months.

- Last week, 382,000 tons of grain were exported from the Russian port of Novorossiysk (+45% compared to the previous week), including wheat exports of 341,000 tons, corn exports of 25,000 tons and barley exports of 17,000 tons. The biggest buyers were Iran with 134,000 tons, Turkey with 84,000 tons and Egypt with 30,000 tons.

- According to information from the Ministry of Agriculture of Ukraine, the country is fully supplied with cereals and oilseeds to meet domestic demand. By the end of 2021/22, wheat stocks will be 5.6 million tons and corn stocks will be 6.7 million tons.

- On Friday, commodity funds in Chicago were net sellers of 5,500 contracts of corn, 14,500 contracts of soybeans and 2,000 contracts of wheat.

- According to data from the Buenos Aires Grain Exchange, as of April 20, 2022, 30.8% of the soybean areas in Argentina have been harvested, reaching a total of 16.3 million hectares. 3% of the areas have been harvested for the week and since the beginning of the campaign 16 million tons of soybeans have been harvested at an average yield of 3.22 tons/hectare. The production is expected to reach 42 million tons (43.1 in 2021/22).

- In 2022, the soybean production in China will increase by 25.8% compared to 2021 to 20.63 million tons. The areas will increase by 16.7%. By 2025, the soybean production is planned to reach 23 million tons. In 2022, soybean imports to China will fall to 95.07 million tons (96.52 in 2021).

- Egypt has announced a tender for the purchase of 40,000 tons of vegetable oils, including 30,000 tons of soyoil and 10,000 tons of sunseed oil with deliveries within June - July.

- Algeria has announced a tender for the purchase of at least 50,000 tons of durum wheat with delivery within 16.05 - 30.06.2022. Algeria's wheat stocks are enough to meet domestic demand for 8 months. On April 12, 2022, Algeria purchased 120,000 tons of wheat.

- Following Indonesia's decision to suspend palm oil exports, Malaysia will reconsider its priorities regarding the consumption of oil for biodiesel production. The aim is to provide new quantities of oil for the world market. Indonesia clarified on Monday that the export ban will only apply to refined palm oil and unrefined palm oil will be exported freely.