Grain Highlights 13.01.2021

Yesterday, commodity funds in Chicago were net buyers of all grain contracts, including corn (+58,000), soybeans (+33,000) and wheat (+25,000).

- According to Anec's forecast, 2.12 million tons of corn will be exported from Brazil in January (1.17 million tons a year earlier). Exports of soybeans will reach 1.05 million tons (-37%) and soyoil exports are projected at 1.175 million tons (847,400).

- The Argentine government has lifted the second restriction on corn exports from the country - a maximum of 30,000 tons per day.

- According to unofficial information from Russia, the government is considering an option to increase the export tax from the current 25 EUR/ton to 70 EUR/ton. It is expected to take place in the period 01.02 - 31.03.2021. The introduction of an export tax of 10 EUR/ton for barley and 25 EUR/ton for corn for the same period.

- Bad weather conditions in Ukraine are the reason for the limited ship loadings.

- In 2020, rapeseed exports from Ukraine reached 2.38 million tons compared to 3.159 million tons in 2019.

- In December, 503,000 tons of sunseed oil, 522,000 tons of sunseed meal, 28,000 tons of sunflower were exported from Ukraine, all indicators are well below the level of November 2020. Exports of rapeseed were also greatly reduced by 151,000 tons.

- South Korean KOFMIA has purchased 50,000 tons of mill wheat from the United States at a FOB price of 263.87-273.80 USD/ton.

- According to the MPOB, the export tax on palm oil in Malaysia will remain unchanged at 8% in February.

- On 12.01.2021, Turkey purchased 130,000 tons of feed barley at a price 254.90-268.50 USD/ton and delivery in the period of 26.01 - 16.02.2021.