Grain Highlights 03.12.2020

03 Dec, 2020
Grain Highlights 03.12.2020
StoneX has raised its expectations of the soybean production in Brazil in 2020/21 by 0.5 million tons to the total of 133.9 million tons.

- As of November 30, 2020, 7.9 million hectares of winter crops have been sown in Ukraine (96% of the plan). 6.03 million hectares (99%) and 939,300 hectares (99%) were sown with wheat. 880,400 hectares (87%) were sown with rapeseed.

- Anec has stated that no soybean ships will be exported from Brazilian ports during the period 29.11 - 05.12.2020. Traditionally, Brazil does not export soybeans in December. The harvest starts in January. In November 2020, exports were 864,500 tons compared to 4 million tons in November 2019.

- StoneX has raised its expectations of the soybean production in Brazil in 2020/21 by 0.5 million tons to a total of 133.9 million tons. The estimate for the maize production was lowered by 1.8 million tons to 109.3 million tons mainly because of the first harvest of 25.3 million tons.

- Algeria has announced a tender for the purchase of 35,000 tonnes of feed maize of any origin and delivery by 05.01.2021. The country is also to purchase 25,000 tons of feed barley of any origin and delivery on January 15-31.

- Thai Feed Mill Association purchased 54,000 tons of feed wheat of any origin at an initial tender for 107,000 tons. The price of the deal is 274.5 USD / ton C&F.

- Indian traders have concluded two deals for the export of 200,000 tons of wheat to Bangladesh with immediate delivery and prices of 210 - 220 USD / ton FOB and 250 - 260 USD / ton FOB. Now, the average export price of Indian wheat reaches 230 - 240 USD / ton compared to 300 - 310 USD / ton FOB at the same time last year.

- According to the Oil World's forecast, after the reduction of the import duty on unrefined palm oil in India there is an increase in its imports and reduced demand for soybean oil. In 2020/21, the import of palm oil is predicted to reach 8.9 million tons (+0.2 million tons), which is 1.2 million tons more than 2019/20. Imports of soybean oil decreased by 0.2 million tons to 3.7 million tons, but this remains the highest level for the last 5 years. Imports of sunflower oil are estimated to be 1.95 million tons (-20%). During the season, the total import of vegetable oils is expected to increase by 5 - 6% to 14.8 million tons.