Grain Highlights 24.11.2021

According to an analysis by the University of Illinois, the profitability of ethanol producers in the United States is now beating the seven-year record due to the significant jump in oil prices over the past four months.

- According to data from the European Commission, rapeseed imports into the EU reached 1.7 million tons over the period of 01.07 - 21.11.2021 (-38% compared to the previous season and -47% compared to 2019/20). The largest suppliers were Ukraine with 1.2 million tons, Australia with 287,000 tons, Canada with 92,000 tons and Moldova with 51,000 tons. Imports of rapeseed oil were 233,900 tons (129,500 the previous season).

- Yesterday, commodity funds in Chicago were net buyers of 4,500 contracts of corn and 7,000 contracts of wheat and net sellers of 1,000 contracts of soybeans.

- According to an analysis by the University of Illinois, the profitability of ethanol producers in the United States is now beating the seven-year record due to the significant jump in oil prices over the past four months. Over the last six weeks, more than 1 million barrels of ethanol have been produced daily. Ethanol is now the cheapest tool to increase the octane number of gasoline and it is used by refiners.

- Turkey has purchased 370,000 tons of barley at prices 326.90 - 359.90 USD/ton C&F and delivery within January 03 - 28 2022.

- Egypt has announced a tender for the supply of 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery over January 15-31.

- The Philippines bought 100,000 tons of feed wheat at a price within 340 - 350 USD/ton C&F and delivery over January - June 2022, most likely from Australia. At the beginning of the week, 40,000 tons of Australian wheat were purchased at a price of 353.50 USD/ton C&F and delivery in February 2022.

- According to the forecast of Oil World, the production of the four leading oils around the world - palm, sunseed, soybean and rapeseed will reach the highest level for the last four years in 2021/22 - 6.3 - 6.8 million tons. This will happen after two years of global decline.