Grain Highlights 25.11.2021

Turkey bought 385,000 tons of wheat at prices of 376.00-394.90 USD/ton C&F and delivery within January 10 - 31 2021.

- In 2021/22, vegoil production in Ukraine will increase. Sunseed oil production is expected to increase by over +24%.

- Yesterday, commodity funds in Chicago were net sellers of 1,000 corn contracts, 4,000 soybean contracts and 11,500 wheat contracts.

- As of November 17, 2021, Argentine farmers have sold 34.8 million tons of soybean from the old 2020/21 crop (35.5 years earlier) out of the total soybean production of 43.1 million tons. 3.2 million tons from the new 2021/22 crop were also sold. The 2021/22 soybean production is projected at 44 million tons.

- According to Oil World, soybean processing in Argentina reached 3.32 million tons in October (3.7 in September and 3.11 in October 2020). Soyoil stocks reached 247,000 tons (215,000 in September) and soymeal stocks were 1.01 million tons (0.92). Exports of soyoil from Argentina were 467,000 tons (528,000), including 258,000 tons for India (209,000). Exports of soymeal were 2.43 million tons (2.67), including 717,000 tons for the EU (845,000), 193,000 tons for Indonesia (303,000) and 223,000 tons for Vietnam (259,000).

- According to GAPKI's forecast, the export of palm oil from Indonesia will decrease by 0.34% in 2021 compared to 2020. Exports of crude oil are expected to decrease by 60.5%.

- Turkey bought 385,000 tons of wheat at prices of 376.00-394.90 USD/ton C&F and delivery within January 10 - 31 2021. At the tender, there were sale offers sale at prices up to 425 USD/ton C&F.