Grain Highlights 26.04.2021

Brazil meatpackers are now exploring wheat as feed alternative as corn prices rise.

- On 24.04.2021, 60,750 tons of corn were exported from a Russian port to South Korea. The last time that corn was exported from Russia to South Korea was back in June 2019 when 49,727 tons were exported.

- During the week of April 19-25, 209,539 tons of grain were exported from the Russian port of Novorossiysk, which is 2.5% less than the previous week and 17% less than the previous year. 59,500 tons of wheat, 57,789 tons of barley and 92,250 tons of corn were exported.

- Over the week of April 12-18, 56,800 tons of sunseed oil were exported from Russian ports, which is 22% more than the previous week.

- As of April 26, 2021, 348,300 hectares of sunseed or 4.2% of the planned areas have been sown in Russia. 182,200 hectares (6.5%) were sown with corn.

- According to the forecast of the Ukrainian Grain Association, wheat exports from the country will be below 16 million tons in 2020/21 with a limit of 17.5 million tons. Corn exports are projected to reach 22 million tons (24).

- As of 19.04.2021, 85% of the soft wheat crops are in good and excellent condition in France (86% a week earlier and 58% a year earlier). The sowing campaign of corn was carried out on 41% of the planned areas (18% and 50%).

- On Friday, commodity funds in Chicago were net sellers of 8,000 contracts of corn and 1,000 contracts of soybeans and net buyers of 1,000 contracts of wheat.

- According to Datagro's forecast, the corn production in Brazil will reach 105.8 million tons in 2020/21, which is 3.5 million tons less than the previous estimate. As of April 16, 2021, 83% of the first corn crop areas have been harvested in the country.

- Brazil meatpackers are now exploring wheat as feed alternative as corn prices rise. The sowing campaign of wheat in the state of Rio Grande do Sul begins in May and wheat areas can increase by 40% to a total of 1.4 million hectares. Brazil meatpackers are also considering barley and triticale as potential alternatives.

- The authorities in Argentina are considering the possibility of increasing the export taxes on cereals in order to increase revenues in the state budget.

- The South Korean feed manufacturer FLC has purchased 65,000 tons of feed corn from Latin America with delivery by 25.08.2021 at a price of 305.99 USD/ton C&F + 1.5 USD/ton for unloading in port.

- Bangladesh has announced a tender for the purchase of 50,000 tons of wheat of any origin.

- The Egypt's state grain buyer GASC has announced a tender for the purchase of 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery within 21.06 - 10.07.2021. A tender for the purchase of oils from the country has also been announced.