Grain Highlights 12.01.2021

12 Jan, 2021
Grain Highlights 12.01.2021
The Ministry of Agriculture of China has increased its forecast for the import of corn in the country in 2020/21 to 10 million tons, which is 42.86% more than the estimate from the previous month and 31.5% more than 2019/20.

- In the first half of the current season, imports of vegetable oils in the EU increased to 4.3 million tons, which is 2% more than the previous season. The change in imports was caused by:

  • palm oil increased by 10% to 3 million tons
  • sunseed oil decreased by 16% to 0.9 million tons
  • rapeseed oil decreased by 11% to 0.1 million tons
  • soyoil remained unchanged at 0.3 million tons

Sunseed oil supplies were mainly from Ukraine- 0.8 million tons.

- In the first half of the season, oilseed imports in the EU and Great Britain reached 11.6 million tons (+4% compared to the previous season), including:

  • soybeans- 7.4 million tons (+7%)
  • sunseed- 0.6 million tons (+50%)
  • rapeseed- 3.5 million tons (-6%)

The main suppliers of soybeans are the United States with a share of 41% and Brazil with a share of 39%. Main exporters of rapeseed to the EU were Ukraine with 60% and Canada with 35%. Russia supplied the largest share of sunseed to the EU of 42%.

- Yesterday, commodity funds in Chicago were net sellers of all grains:

  • 12,500- contracts of corn
  • 4,500- contracts of soybeans
  • 3,500- contracts of wheat

- The Ministry of Agriculture of China has increased its forecast for the import of corn in the country in 2020/21 to 10 million tons, which is 42.86% more than the estimate from December and 31.5% more than 2019/20. The estimate for the 2020/21 production was reduced to 260.67 million tons, which is 1.53% less than the December estimate, and feed consumption in the country increased by 2 million tons to a total of 185 million tons.

- On 12.01.2021, Turkey purchased 155,000 tons of feed corn of any origin at a price of 265.65 - 268.85 USD/ton C&F with delivery between 25.01 - 15.02.2021.

- Turkey has announced a tender for the purchase of 400,000 tons of red milling wheat of any origin and delivery 26.01 - 25.02.2021.

- Indonesia plans to increase exports of refined palm oil following an increase in Malaysia's export tax. The Indonesian government will give priority to the industry in this direction.

- Recently, private importers from Pakistan have purchased over 100,000 tons of milling wheat of any origin at prices of 305-306 USD/ton C&F. According to traders, the wheat is most likely Ukrainian.