Grain Highlights 18.01.2021

18 Jan, 2021
Grain Highlights 18.01.2021
In January, wheat exports from Russia will reach a record for this month of 2.7 - 2.8 million tons and a total of 3.3 million tons of grain exports

- Export taxes from Russia:

  • wheat- period of 15.02 - 01.03.2021 - 25 EUR/ton;  01.03 - 30.06.2021 - 50 EUR/ton
  • corn- period of 15.03 - 30.06.2021 - 25 EUR/ton
  • barley- period of 15.03 - 30.06.2021 - 10 EUR/ton
  • quota for export of wheat, corn, barley, rye for the period of 15.02 - 30.06.2021 - 17.5 million tons. After 01.07.2021 - floating tax for the new crop

- In January, wheat exports from Russia will reach a record for this month of 2.7 - 2.8 million tons and a total of 3.3 million tons of grain exports, according to the forecast of Rusagrotrans. According to a preliminary estimate, grain exports in December amounted to 4.73 million tons, incl. wheat exports of 4 million tons. The domestic wheat market in Russia is less active given the uncertainty before the introduction of export tax.

- According to the Russian customs service, in the first three months of the season (September - November) exports of sunseed oil from Russia to India decreased to 37,000 tons, which is 6% of total exports compared to 16% a year earlier. For 2019/20, India ranked third among buyers of Russian oil with a share of 13%.

- On Thursday, commodity funds in Chicago were net buyers of all grains, including corn (+30,000), soybeans (+18,000) and wheat (+8,500).

- According to Statistics Canada, in the week of Jan 4-10, exports from Canada reached:

  • wheat- 448,900 tons compared to 248,000 tons a week earlier
  • barley- 148,400 tons (23,100)
  • canola- 190,000 tons (101,300)
  • soybeans- 162,000 tons (110,600)

During the week, a total of 1.07 million tons of cereals and oilseeds were exported (+ 52%).

- Argentine farmers have only 2.5% of the planned soybean areas left to plant, which reach a total of 17.2 million hectares.

- According to the Solvent Extractors ’Association of India (SEA), in December, imports of palm oil in India increased by 4% compared to November, which is a result of the reduction in import taxes from 37.5% to 27.5%. Imports of soyoil reached 322,800 tons (+100%) and sunseed oil- 234,900 tons (+19%). Exports of soymeal in 2020/21 are projected at 2 million tons (825,000).

- In its January report, IGC analysts raised their forecast for the world wheat production in 2020/21 to 768 million tons (765 million tons in the November report and 763.7 million tons in 2019/20). The wheat production in different countries will reach:

  • Australia- 31.2 million tons (29.3 and 15.2)
  • Canada- 35.2 million tons (34.1 and 32.7)
  • Russia- 84.5 million tons (83.5 and 73.6)

World wheat exports will be 186.8 million tons (186 and 184.3), including:

  • Australia- 20 million tons (19.4 and 9.1)
  • Canada- 25.5 million tons (24.5 and 24.5)
  • Kazakhstan- 7 million tons (6.8 and 6.7)
  • Ukraine- 17.5 million tons (17 and 21.1)
  • United States- 26.8 million tons (26.5 and 26.3)

The ending stocks of wheat will reach 293.5 million tons (292.1 and 278.3), including:

  • Australia- 7.1 million tons (5.9 and 3.7)
  • Canada- 6.4 million tons (6.3 and 5.5)
  • EU- 10.8 million tons (10.6 and 13.9)
  • Russia- 12 million tons (11 and 9)
  • United States- 23.5 million tonnes 24 and 28)
  • China- 139.1 million tons (139.8 and 130.2)
  • India- 29 million tons (30 and 24.3)