Wheat
- According to the forecast of SovEkon, wheat exports from Russia will reach 36.3 million tons in 2020/21, which is 4.5 million tons less than the previous estimate of 40.8 million tons. It is expected that some farmers will leave their old crop for sale in the new season - after the abolition of export taxes. Another reason for the decline in exports this season is the poor condition of the new wheat crops.
- The authorities in Morocco extend the duty-free import of wheat in the country until 31.05.2021, which will ensure regular deliveries against the background of the poor wheat production,
- Jordan purchased 60,000 tons of milled wheat of any origin at price of USD 254/ton C&F and delivered in the second half of July 2021.
- Egypt has strategic wheat stocks that can meet domestic consumption for 5.5 months. The stocks of rice are sufficient enough to meet domestic consumption for 11.1 months, and those of vegetable oils- 4.3 months. In the period of Dec 1-23, 1.12 million tons of wheat were imported from Egyptian ports (1.15 million tons a year earlier).
- Bangladesh has announced a tender for the purchase of 50,000 tons of milling wheat with a protein of 12.5%.
Grains
- According to Rusagrotrans forecast, grain exports from Russia will reach a record of 30.2 million tons in the first half of 2020/21 (the current record is 28.8 million tons and it has been set in 2018/19). In the second half of the season there will be a serious decline in exports. Decline will be particularly strong for wheat, which is already competing with major productions in Australia and Canada.
- During the week of December 21-27, 290,750 tons of Russian grain were exported from the Russian port of Norovossiysk (-37.4% compared to the previous week and -26.1% compared to the previous year). Exports have been:
- wheat- 254,150 tons (-21% and -35.4%)
- barley- 26,065 tons
- corn- 10,500 tons
- On 28.12.2020, USDA announced that private exporters reported export sales all for unknown destinations of:
- 358,700 tons of soybeans
- 149,572 tons of corn
- 33,000 tons of soyoil
- According to Anec, corn exports from Brazil in December will reach 4.42 million tons compared to 4.46 million tons a week earlier. Thus, for 2020, total exports will be 33.9 million tons (41.2 million tons in 2019). During the month, soybean exports are expected to be 120,000 tons (89,000) compared to 2.5 million tons in December 2019.
- In November, China imported 1.23 million tons of corn, 1130% more than in November 2019. During the period January - November, corn imports were 9.04 million tons (+122.4%). Wheat imports were 800,000 tons in November (+77.8%), and since the beginning of the year total wheat imports reach 7.49 million tons (+150.5%). The import of barley during the month was 1.11 million tons (+170.7%), and since the beginning of the year it amounts to a total of 7.1 million tons (+24.8%).
Oilseeds and vegetable oils
- According to Gosstat, the sunseed production in Ukraine was 13.136 million tons in 2020 and in 2019 it was 15.268 million tons.
- For the period January-November 2020, 1.53 million tons of soybeans were exported from Ukraine (1.66 million tons a year earlier). Soybean expots included:
- Turkey- 471,740 tons
- Belarus- 303,400 tons
- Greece- 105,790 tons
- others- 652,190 tons
- According to data from the European Commission, 10.77 million tons of oilseeds were imported in the EU for the period of 01.07 - 22.12.2020. This is 1% more than the previous year (10.68) and 12% more than 2018/19 (9.59). These imports included:
- soybeans- 6.94 million tons (+4%)
- soymeal- 8.6 million tons (-8%)
- soyoil- 253,000 tons (-0.4%)
- sunseed- 592,900 tons (+ 50%)
- According to the forecast of The Brazilian Association of Soybean Growers (Aprosoja), the soybean production in the country will reach 127 million tons in 2020/21, which is 2 million tons less than the previous estimate. Conab estimated the production at 134.5 million tons (124.8 million tons in 2019/20) with an average yield of 3.52 tons/hectare (3.38 tons/hectare).
- The strike of port workers in Argentina will continue during the Christmas holidays. It started on 09.12.2020 and created major problems with soybean supplies around the world. As a result, oil prices continue to rise even after a sharp drop in petrol prices. China is already expected to import more than 100 million tons of soybeans, and this will continue to be a price supporting factor.
- According to data from the Buenos Aires Grain Exchange, thanks to the rainfall last week, as of December 22, 2020, soybean sowing in Argentina has advanced by 9% to a total of 77% of the planned area. 49% of the crops are in good and excellent condition, 46% in satisfactory, 5% in poor condition. 39% of the sunseed crops (41% a week earlier and 49% a year earlier) are in good and excellent condition.
- According to GAPKI's forecast, palm oil exports from Indonesia will reach 36 - 37 million tons in 2021 compared to only 24.92 million tons in 2020. USDA expects exports of 28.85 million tons.
- From the beginning of 2021, Malaysia imposes an export tax on palm oil of 8%, which is expected to reduce demand for the product. Buyers are expected to seek emergency oil supplies in the last days of the year. During the period December 1-20, palm oil exports from Malaysia increased by 18.9% compared to the previous month. The production during the month has decreased to the lowest level for the last 6 years and the total 2020 palm oil production is the lowest since 2016.