Grain Highlights 04.08.2022

In July, palm oil stocks in Malaysia rose to the highest level for the last 8 months of 1.79 million tons (+8.3% compared to June).

- Yesterday, Chicago funds were net sellers of 7,000 soybeans and 5,000 wheat contracts and neutral on corn.

- According to Anec's forecast, Brazil's corn exports in August could reach 6.22 million tons (5.62 in July and 4.19 in August 2021). The export of soybeans will reach 5.1 million tons (7.1 and 5.8), and soymeal exports are projected at 1.6 million tons (2 and 1.3).

- Taiwan group MFIG has bought 55,000 tons of corn from South Africa with delivery within 16.10 – 04.11.2022, and the sellers are from Brazil and Argentina.

- In July, palm oil stocks in Malaysia rose to the highest level for the last 8 months of 1.79 million tons (+8.3% compared to June). Palm oil production reached 1.58 million tons (+2%), palm oil imports were 80,000 tons (+35%) and palm oil exports totaled 1.22 million tons (+2.2%).

- Algeria purchased 700,000 tons at a price of 384 USD/ton C&F. The amount came mainly from France and a smaller amount was bought from Russia.