Grain Highlights 22.11.2021

Over the period of 01.07 - 18.11.2021, 17.6 million tons of grain were exported from Russia, which is 23% less than the previous year.

- Over the period of 01.07 - 18.11.2021, 17.6 million tons of grain were exported from Russia, which is 23% less than the previous year. Wheat exports reached 14.8 million tons (-21.6%), barley exports were 2 million tons (+34.3%) and corn exports reached 0.6 million tons (-13.8%). For the whole of 2021/22, grain exports are projected at 45-48 million tons, including wheat exports of 38.4 million tons. According to official announcements from Russia, the country will introduce restrictions on wheat exports in the period of 15.02 - 30.06.2022. Total wheat exports for the season will be 31 million tons which mean that about 500 thousand tons per week should be exported within the period of 19.11.2021 - 30.06.2021. In recent months, weekly exports have never fallen below this level. We must also keep in mind that at the end of the season, exports traditionally decrease.

- Over the week of November 15-21, 388,300 tons of wheat were exported from the Russian port of Novorossiysk, including 212,400 tons for Egypt.

- According to FranceAgriMer, as of 15.11.2021, 91% of the corn areas have been harvested in France (+9% for the week). The sowing campaign of winter wheat was carried out on 93% of the planned areas (+6%). The sowing campaing of winter barley has been carried out on 97% of the planned areas (+3%).

- According to AHDB, wheat areas in the UK reached 1.81 million hectares in 2021/22, which is 1.3% more than the previous season. The rapeseed areas were 345,000 hectares (+12.9%).

- On Friday, commodity funds in Chicago were net buyers of 1,000 contracts of wheat and net sellers of 4,000 contracts of corn and 1,000 contracts of soybeans.

- According to data from Statistic Canada, 847,400 tons of cereals and oilseeds were exported from Canada over the week ending 14.11.2021 (811,300 a week earlier). Exports of soft wheat reached 309,400 tons (130,200).

- According to the forecast of Safras & Mercado, the corn production in Brazil will reach 119.3 million tons in 2021/22, which is 3.3 million tons below the previous estimate. The second corn production is expected to drop to 81.7 million tons. The first corn production is projected to increase by 0.2 million tons to 25.7 million tons.

- According to local analysts, the wheat production in India will reach a record 112 million tons in 2021/22.