Grain Highlights 15.09.2021

According to the forecast of the Buenos Aires Grain Exchange, corn areas in Argentina will increase to 7.7 million hectares in 2021/22 (eight years of continuous growth) while in 2020/21 they were 6.6 million hectares.

- In 2020/21, rapeseed exports from Russia reached a record 680,000 tons. The previous record of 529,000 tons was set back in 2018/19.

- Yesterday, commodity funds in Chicago were net buyers of 4,500 contracts of corn and 6,500 contracts of wheat and net sellers of 2,000 contracts of soybeans.

- According to the forecast of the Buenos Aires Grain Exchange, corn areas in Argentina will increase to 7.7 million hectares in 2021/22 (eight years of continuous growth) while in 2020/21 they were 6.6 million hectares. The corn production is expected to reach 55 million tons. Wheat areas are projected to reach 6.6 million hectares (+0.1) and the wheat production is estimated at 19.2 million tons (+0.2). The soybean areas fall for the sixth consecutive year to 16.5 million hectares (-0.4) and the soybean production will be 44 million tons (43.1).

- According to ABS estimates, rapeseed exports from Australia reached 114,400 tons in July compared to 189,900 tons in June. The largest customers were the UAE with 51,200 tons, Japan with 39,400 tons and Nepal with 17,500 tons.

- Over the period of September 1-8, wheat imports to Egypt were 755,300 tons, compared to just 165,900 tons a month earlier. The largest suppliers were Russia with 347,800 tons, Ukraine with 281,400 tons and Romania with 126,000 tons.

- Algeria has announced a tender for the purchase of 30,000 tons of soymeal with delivery within 10.11 - 10.12.2021.

- Jordan has canceled a tender for the purchase of 120,000 tons of durum wheat of any origin and delivery within December-February.