Grain Highlights 04.01.2021

According to government data from China, under the program to ensure the food security of the country, the total area planted with corn will be increased in 2021.

- According to Rosstat, 92,000 tons of rapeseed oil were exported from Russia in November, which is 9% higher than the previous month and is a monthly record. 51,000 tons of rapeseed oil were exported to Norway and 29,000 tons to China.

- According to data from the Buenos Aires Grain Exchange, as of 29.12.2020, 88% of the planned areas (+11% for the week) have been planted with soybeans in Argentina. That is 4% higher than the percentage from the same period last year and 2% lower than the average for the last five years is 90%. The fast-paced planting was a result of the good rainfall. 93% of the crops are in good and fair condition (95% a week earlier). 75% of the planned corn areas (+14%) have been planted. 82% of the crops (-1%) are in good and fair condition. The wheat harvest has been completed on 92% of the areas (+13%) for the week, and 15 million tons have been harvested. With this current results, the total production is expected to reach 16.3 million tons.

- According to government data from China, under the program to ensure the food security of the country, the total area planted with corn will be increased in 2021. An increase in corn production is sought given the rapid growth of consumption and imports. In recent years, China has reduced its area planted with corn (41.3 million hectares in 2020) and expanded its area planted with soybeans. In 2020, it became clear that soybeans will be imported a lot anyway, so at least corn could now potentially be produced domestically!

- On 30.12.2020, Algeria bought 300,000 tons of wheat of any origin and delivery in Feb 2021 at a price of 292 USD/ton C&F, which is the highest price that the country has paid in the last five years. At the previous auction, 600,000 tons of wheat were purchased at a price of 274.50 USD/ton C&F.