Due to prolonged rainfall in Western Australia, the quality of the new wheat crop is deteriorating and its prices are rising despite the fact that the harvesting campaign has already started.
According to the forecast of the United Grain Company, 41-42 million tons of grain will be exported from Russia in 2021/22, including 31 - 32 million tons of wheat.
According to updated information, Algeria has purchased 800,000 tons of milling wheat from Russia, Argentina, Germany and Poland at prices within 382.50 - 384.00 USD/ton and delivery over the period of 16.12.2021 - 31.01.2022.
Last week, Chinese buyers bought 300,000 - 700,000 tons of corn from Ukraine at a price of 330 - 335 USD/ton C&F and delivery over January - March 2022.
Authorities in Algeria have taken an important step in lowering grain quality requirements (increased percentage of damaged seeds by insects), which will allow Russian wheat to participate.
According to data from the European Commission, 9.78 million tons of milling wheat have been exported from the EU since the beginning of the current season (01.07 - 07.11.2021), which is 15% more than the previous year - 8.47 million tons.
