Grain Highlights 23.12. 2020

23 Dec, 2020
Grain Highlights 23.12. 2020
According to the forecast of the Buenos Aires Grain Exchange, the corn production in Argentina will reach 47 million tons in 2021, which is 4.5 million tons lower than in 2020.

- In the first 25 weeks of the season, rapeseed imports to the EU reached 3.242 million tons, which is 11% less than last year. Rapeseed oil imports amounted to 0.146 million tons (-10%). Deliveries of rapeseed are from Ukraine (1.946 million tons) and Canada (1.181 million tons).

- In 2020, the wheat production in the UK reached 9.66 million tons, which is 40.5% less than in 2019. The barley production reached 8.12 million tons (+ 0.9%) and rapeseed production was 1.04 million tons (-40.8%).

- The Brazilian government intends to gradually increase the share of vegetable oils in biodiesel production in the country. In March 2021, the share will reach 13% compared to 12% now. B20 biodiesel will be used in 2028. The share of soybean oil in the production of biodiesel reaches 80%.

- According to the forecast of S&P Global Platts, corn prices in Brazil and Argentina will remain high in 2021. The first corn production in Brazil will fall by 1.6% compared to the previous year to a total of 25.3 million tons. According to the forecast of the Buenos Aires Grain Exchange, the corn production in Argentina will be 47 million tons in 2021, which is 4.5 million tons lower than in 2020. In November, Argentine farmers sold 10.35 million tons of corn from the new production compared to only 6.3 million tons in November 2019.

- According to the forecast of the Grain Exchange in Rosario, in 2020/21 the wheat production in Argentina will reach 16.5 million tons, which is 0.2 million tons less than the previous estimate. Wheat exports in the new season will be 9.6 million tons and domestic consumption- 7.3 million tons.

- According to a preliminary estimate of COFCO, China will import 100 million tons of soybeans in 2020 , which will be a record achievement. Soybean processing in China will be 92.6 million tons. Strong demand for soybean meal is expected in the first quarter of 2021.

- From 01.01.2021, Malaysia imposes an export tax on palm oil of 8%.

- Iraq is ready to export 700,000 tons of barley to Iran at a price of 125 USD/ton. This will be the first export of barley from Iraq in history.

- From the beginning of the season until 20.12.2020, grain exports from the EU reached 18.538 million tons, which is 19% less than the previous year (-19% a week earlier). Imports reached 10.629 million tons (-18% and -18%). Corn imports reach 7.911 million tons (-24% and -23%).