Grain Highlights 20.01.2021

20 Jan, 2021
Grain Highlights 20.01.2021
Yesterday, commodity funds in Chicago were net sellers of all grains, including corn (+25,000), soybeans (+20,000) and wheat (+2,500).

- In 2020, the United States shipped 25.89 million tons of soybeans to China compared to 16.94 million tons in 2019. In December, China imported 5.84 million tons of soybeans from the United States (3.09) and 1.18 million tons from Brazil (4.83). For 2020, the total exports of soybeans to China from Brazil reached 64.28 million tons (+11.46%). Total soybean imports reached 100.33 million tons in 2020.

- Oil World has raised its forecast for the soybean production in Brazil by 1 million tons, compared to the previous estimate, to a total of 129 million tons . In 2019, the production was 126.7 million tons.

- According to Soybean And Corn Advisor, soybean production in Brazil will reach 128 million tons.

- According to Oil World, world's total soyoil exports reached 325,000 tons in December compared to 593,000 tons a year earlier. The largest soyoil exporters were:

  • Argentina- 140,000 tons (408,000)
  • Brazil- 21,000 tons (38,000)
  • United States- 100,000 tons (84,000)

- The Transport Union of Argentina has announced a strike that aims to reduce taxes and fees on the transport business. On 19.01.2021, total number of trucks in the port of Rosario was reduced by 88% to 294 visits.

- The Australian CBH has exported 35,000 tons of malting barley to Mexico. Australian exporters are raising their hopes about the Mexican market after strained relations with China.

- According to Rusagrotrans' forecast, 3.5 million tons of grain will be exported from Russia in January, including 3 million tons of wheat. Given the introduction of an export tax in February, exports are expected to fall by 50%. The domestic wheat market is not really active. Prices in the southern parts of the country have risen due to higher international prices.

- On 19.01.2021, the prices of palm oil in Malaysia decreased due to weak exports and a drop in the price of soybeans and oils around the world. Over the period of 1 - 20 January, 632,827 tons of palm oil were exported from Malaysia, which is 41.1% less than the same period in December.

- A group of Taiwanese companies MFIG bought 65,000 tons of feed corn from the United States at a price of 286.11 USD/ton C&F and delivery 24.03 - 12.04.2021.

- On January 19, 2021, Jordan purchased 60,000 tons of feed barley of any origin at a price of 262 USD/ton and delivery July 1-15.

- Private importers from the Philippines purchased 100,000 tons of feed wheat and 80,000 tons of feed barley of any origin and delivery in April-May. Most likely, however, the sale offers were rejected due to high prices, which exceed 300 USD/ton C&F.