Grain Highlights 04.12.2020

In November, 3.1 million tons of corn were exported from Ukraine, which is 4% more than corn exports in November 2019 and 1.7 times more than exports from the previous month.

- In November, 3.1 million tons of corn were exported from Ukraine, which is 4% more than corn exports in November 2019 and 1.7 times more than exports from the previous month. The largest buyer is China with over 1.3 million tons of corn (42% share), followed by Egypt- 498,000 tons (16%) and the Netherlands- 178,000 tons (6%). During the first two months of the season, exports amounted to 4.9 million tons (-6%), including total exports for China of 2 million tons (868,000).

- According to EIA, US ethanol production was 974,000 barrels per day for the period November 21-27, which is 16,000 barrels per day less than the previous week and 70,000 barrels less compared to the previous year. Ethanol stocks in the United States increased during the week by 374,000 barrels to a total of 21.24 million barrels.

- According to AgRural estimates, 94% of the areas planned for the first corn production in Brazil have been sown (91% a year earlier). According to Deral, the state of Paraná, the crops are in the following conditions: 

  • 76% are in good and excellent condition (+ 5% compared to 2019)
  • 20% are in fair condition
  • 4% are in poor condition

The second corn production in the state is expected to reach 11.6 million tons (-12% compared to 2019). In Rio Grande de Sul, 85% of the planned areas for corn are sown. The yield will be only 40 - 50% of last year's in places where precipitation is very low.

- According to an IMEA estimate, 2.51% of soybean areas in the Brazilian state of Mato Grosso will have to be resown due to drought losses. The resowing has already started and there would be more losses if the drought lasts any longer.

- According to CGS-CIMB Research, at the end of November palm stocks in Malaysia reached 1.54 million tons, a decrease of 2% compared to the end of October. Palm stocks are at their lowest monthly figure since 2004. The indicator is 32% weaker than the previous year. In November, the production decreased by 10.4% to 1.55 million tons. Exports also fell by 17% to 1.38 million tons.

- According to Oil World, palm oil exports from Indonesia reached 2.36 million tons in October compared to 2.2 million tons in the previous month and 2.54 million tons in October 2019.The largest importers of palm oil from Indonesia have been:

  • China - 471,000 tons (436,000 tons in September)
  • India - 334,000 tons (317,000)
  • EU - 310,000 tons (283,000)
  • Pakistan - 205,000 tons (172,000)
  • Meyanmar - 102,000 tons (71,000)
  • United States - 106,000 tons (58,000)

- The wheat production in South Africa is predicted to reach 2.149 million tons in 2020, which is 40% more than in 2019 and would be the highest performance for the last 19 years. Despite the good production, imports will still be over 1.5 million tons (-21%).

- The South Korean SPC group has purchased 31,600 tons of milling wheat from the United States and Canada at prices of 291.5 - 315 USD / ton C&F.

- Jordan has announced a tender for the purchase of 120,000 tons of feed barley with delivery in April - May.

- For the first time in 30 years, China imports 100,000 tons of Indian rice. This is mainly due to reduced supplies from Thailand, Myanmar and Vietnam. India is the largest exporter of rice in the world and China- the largest importer.