Grain Highlights 03.11.2021

According to data from the Buenos Aires Grain Exchange, corn areas in Argentina will reach 7.1 million hectares in the new 2021/22 season and soybean areas are projected at 16.5 million hectares.

- The Russian government has proposed a reduction in the deadlines for the entry into force of export taxes on crops. The current major periods create market distortions due to rapid changes in international prices.

- Yesterday, commodity funds in Chicago were net buyers of 6,000 soybean contracts and net sellers of 3,500 corn contracts and 4,000 wheat contracts.

- According to data from the Buenos Aires Grain Exchange, corn areas in Argentina will reach 7.1 million hectares in the new 2021/22 season and soybean areas are projected at 16.5 million hectares. Soybean areas are expected to be the lowest for the last 15 years. At present, 27.6% of the corn areas and 4.6% of the soybean areas have been sown.

- Farmers in Argentina have already sold 2.6 million tons of the new 2021/22 soybean crop. 10% of the planned areas have been sown. Sales of soybeans from the 2020/21 crop reached 33.1 million tons (34.4 years earlier).