In September, wheat exports from Russia will reach 4.4 - 4.5 million tons, according to Rusagrotrans. A record 5.12 million tons were exported in August. The previous record was set in September 2020 - 5 million tons.
- Given the current FOB prices of Russian wheat, the export tax is expected to reach 70 USD/ton in the second half of September.
- Coceral forecasts a wheat production in the EU in 2021/22 of 128.6 million tons (-2.4 million tons compared to the previous estimate and 118.7 million tons in 2020/21). The barley production is expected at 53.5 million tons (-1.9 and 55.7) and corn production is predicted at 67 million tons (+2.3 and 62.5).
- On Friday, commodity funds in Chicago were net buyers of 5,000 corn contracts and 10,000 soybean contracts and net sellers of 5,000 wheat contracts.
- According to Conab, the soybean production in Brazil reached a record 135.9 million tons in 2020/21 (+8.9% compared to 2019/20). Exports will be 83.6 million tons and ending soybean stocks are projected at 7.5 million tons. The corn production is estimated at 85.75 million tons (102.5) and this is the lowest level for the last 4 years. Corn exports are expected to reach 22 million tons (-1.5 and -37%).
- The President of Brazil has approved the document which reduces the consumption of the biocomponent in biodiesel from 13% to 10%.
- According to ABS, 571,800 tons of barley were exported from Australia in July, which is 40.5% more than in June - 406,900 tons. The largest customers were Mexico with 38,500 tons, Japan with 164,300 tons and the UAE with 107,900 tons.
- Saudi Arabia has purchased 382,000 tons of milling wheat 12.5% of any origin and at a price of 355.68 USD/ton C&F. The minimum permissible relative weight of wheat for the tender has been reduced from 770 to 760 kg/m3.
- Pakistan has bought 405,000 tons of milling wheat at a price of 369.50 USD/ton C&F. A new tender was immediately announced for the purchase of 500,000 tons of wheat with delivery within November-December.
- From 11.09.2021, the import tax on unrefined palm oil to India will be 2.5% (10% now) and 2.5% for unrefined soybean and sunseed oil (7.5%). For all refined oils, the import tax will be 32.5% (37.5).