- Starting from 01.04.2021, Russia introduces an export tax on wheat at the amount of 70% of the difference between a base price of wheat per ton and 200 USD/ton. The tax will be updated weekly taking into account world prices from the previous week. The export tax on corn and barley will also be 70% of the difference between a base price per ton and 185 USD/ton.
- In 2020, Ukraine produced 5.9 million tons of unrefined sunflower oil (+3.6% compared to 2019) and 917,200 tons of refined sunflower oil (+17.7%). The production of rapeseed oil was 107,000 tons (-27%) and of soyoil- 233,900 tons (-19.3%).
- In the week ended Jan 28, 2021, export sales of wheat from the United States reached 643,150 tons (380,500 tons a week earlier). The largest buyers of US wheat were:
- China- 134,000 tons
- Nigeria- 129,600 tons
- Mexico- 77,100 tons
- Indonesia- 72,000 tons
- the Philippines- 68,600 tons
An unknown buyer gave up the purchase of 31,000 tons wheat. The US Weekly export of wheat was 498,090 tons (505,760), including:
- Nigeria- 99,600 tons
- South Korea- 77,300 tons
- Mexico- 69,700 tons
- Japan- 60,600 tons
- the Philippines- 58,300 tons
- On Thursday, commodity funds in Chicago were net buyers of 3,000 contracts of soybeans and net sellers of 4,500 contracts of corn and 10,000 contracts of wheat.
- Since the beginning of the season, 6.199 million tons of canola (+35% compared to the previous season) and 3.256 million tons of soybeans (+41%) have been exported from Canada.
- The Ministry of Agriculture of Brazil projects the soybean production in the country at 133 million tons and corn production at over 103 million tons for the season. This is record levels for both crops.
- The sowing campaign of corn was completed in Argentina last week. The areas sown with corn reach 6.3 million hectares. According to the forecast of the Grain Exchange in Buenos Aires, the production will be 46 million tons, which is 1 million tons less than the September estimate and 5.5 million tons less than 2019/20. 24% of the crops are in good and excellent condition (22% a week earlier) and 67% (68%) are in fair condition.
- Over the week, 2.7% of the area planted with sunflower has been harvested in Argentina, up to 12.5% since the beginning of the campaign. A year earlier the figure reached 19.6%. According to a forecast of the USDA, sunseed production will reach 2.9 million tons (-0.3 million tons). However, the Argentine government does not rule out the introduction of an export tax on cereals, given the high food inflation in the country.
- In January, 0.4 - 0.5 million tons of canola were exported from Australia to the EU. In Dec 2020, exports were 264,000 tons (+13% compared to December 2019). In 2020, canola exports from Australia reached a total of 1.67 million tons (1.61), including 1.1 million tons for the EU and 432,000 tons for China (+91%).
- In January, Malaysia's palm oil stocks increased for the first time in the last 4 months by 1.75% compared to Dec to a total of 1.29 million tons. This was mainly due to a 35% drop in exports. During the month, the palm oi production was 1.16 million tons (-13%), which is the lowest level since Feb 2016.