Grain Highlights 18.12.2020

The Turkish government has extended the zero import duty on wheat, barley and corn until 30.04.2021.

- According to APC-Inform, 598,700 tons of oilseeds and their products were exported from Russian ports in November (613,500 tons in October). Exports of sunseed and sunseed products were 453,000 tons, including: 

  • sunseed- 145,000 tons(+25.8% compared to October)
  • sunseed oil- 211,000 tons (+24.6%)
  • sunseed meal- 98,000 tons (unchanged)

- From the beginning of 2020/21 to 16.12.2020, 73,800 tons of flour were exported from Ukraine, which is 98,400 tons less than the previous year. Exported wheat flour reached 73,200 tons (-98,000).

- According to COCERAL, the wheat production in the UK will be 15.12 million tons in 2021 compared to only 10.13 million tons in 2020. The total grain production will reach 22.87 million tons (19.7). The rapeseed production is estimated at 1.17 million tons (1.1).

- According to EIA's estimates, as of 11.12.2020, ethanol stocks in the United States were 22.95 million barrels, which is 867,000 barrels more than the previous week and is the highest level since 22.05.2020. During the week, the country produced 957,000 barrels of ethanol per day, which is 34,000 barrels per day less than the previous week and 124,000 barrels per day less than the previous year.

- In December, 4.474 million tons of corn might potentially be exported from Brazil. From the beginning of the month until now the export reaches 2.094 million tons. In January 2021 (last month of the season) exports are expected to be 382,500 tons. From the beginning of the season to 16.12.2020, corn exports reach 32.883 million tons.

- The Turkish government has extended the zero import duty on wheat, barley and corn until 30.04.2021. Zero duty has been applied since 21.10.2020, and before that it was 45%, 35% and 25% respectively.

- According to official data from India, as of 01.01.2021 grain stocks in India will be 51.29 million tons, which is 2.7 times more than optimal. 21.4 million tons are needed for domestic consumption. During 2020/21, the State Trading Corporation of India purchased 76.2 million tons of rice (+114% compared to 2013/24) and 34.1 million tons of wheat (+ 36%). The high state prices of production have played a major role in achieving these levels.

- As part of the government's biodiesel production program in Indonesia, the government will review the monthly export duty on crude palm oil depending on the reference prices of the product. The duty will vary between 55 - 255 USD / ton and will compensate for the funds spent to support biodiesel producers.

- According to Oil World, soybean meal exports from the world's largest exporters reached 4.81 million tons in November compared to 4.71 million tons in October and 5.03 million tons in November 2019.

Largest soybean meal exporters were:

  • US- 1.17 million tons (1 and 1.13)
  • Brazil- 1.41 million tons (1.35 and 1.19)
  • Argentina- 2.03 million tons (2.1 and 2.39)

The largest importers were the countries from:

  • United States- 0.82 million tons (0.68)
  • Asia 2.18 million tons (2.03)
  • EU 1.54 million tons (1.65)

During the period September - November the exports reached 14.6 million tons (15.88).