Grain Highlights 11.10.2021

According to Rusagrotrans' forecast, 2.8-3 million tons of wheat will be exported from Russia in October.

- According to Rusagrotrans' forecast, 2.8-3 million tons of wheat will be exported from Russia in October. In September, exports reached 4.7 million tons, which is the second highest result in history. In September 2020, exports were a record 5.2 million tons (4.2 in 2019 and 4.5 in 2018). The main customers were Iran with 1.29 million tons, Turkey with 0.84 million tons, Egypt with 0.46 million tons, Bangladesh with 210,000 tons and Nigeria with 210,000 tons.

- Over the week of October 4-10, 74,800 tons of wheat and 63,000 tons of barley were exported from the Russian port of Novorossiysk. Compared to the previous week, exports decreased by over 50%.

- Active purchases of barley from Turkey have raised the barley price in Ukraine. Barley is now quoted at only USD 20/ton below feed wheat. From the beginning of the season until 08.10.2021, 3.912 million tons of barley were exported from Ukraine, which is 28% more than the previous year, when 4.23 million tons of barley were exported for the whole season. Ukraine's expert potential is another 1 million tons, which are usually exported in the spring. The price of barley from a producer in Ukraine reaches 253 - 255 USD/ton (including VAT).

- On Friday, commodity funds in Chicago were net sellers of 2,000 contracts of corn, 3,000 contracts of soybeans and 5,000 contracts of wheat.

- As of October 7, 2021, 1.5 million hectares or 21% of the planned areas (+4% for the week) have been sown with corn in Argentina and 479,000 hectares (29% and + 2%) with sunseed.

- According to Oil World, the six largest soybean exporters in the world (Brazil, USA, Argentina, Canada and Uruguay) exported a total of 8.33 million tons of soybeans in September (-17.4% compared to August). 4.8 million tons of soybeans (6.5) were exported from Brazil, 0.8 million tons (1.5) from Argentina and 2 million tons from the United States (1.3 and 7.2 in September 2020). 5.1 million tons of soybeans (6.3 and 8.5) were delivered to China in September.

- According to MROV, at the end of September, palm oil stocks in Malaysia fell by 7% to 1.75 million tons. Palm oil production in September reached 1.7 million tons (-0.4%) and exports were 1.6 million tons (+37%). The expectations were for ending palm oil stocks of 1.87 million tons.

- On 08.10.2021, Turkey bought 310,000 tons of feed barley with delivery within November 5 - 25 and at a price of 310.00 - 321.30 USD/ton C&F.

- Turkey has abolished import taxes on wheat, rye, barley, oats and corn and others by the end of the year.