Grain Highlights 09.12.2021

According to Imea's forecast, the soybean production in the Brazilian state of Mato Grosso will reach 38.14 million tons in 2021/22, which will be a new historical record.

- In October, 251,000 tons of corn were exported from Russia, which is 80% more than in October 2020. Over the period of July-October, exports were 532,000 tons (-16%).

- According to the latest forecast of FranceAgriMer, soft wheat exports from France to non-EU countries will be 9.2 million tons in 2021/22 (9.4 in November and +24% compared to 2020/21). Exports to EU countries remained unchanged at 7.8 million tons. The ending wheat stocks increased by 0.3 million tons to 3.5 million tons.

- According to the forecast of Refinitiv, wheat production in the EU is 134.1 million tons in 2021/22. The latest forecast of the European Commission is for a wheat production of 130.4 million tons. At the same time, IGC projects EU wheat production of 138 million tons.

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

- According to Imea's forecast, the soybean production in the Brazilian state of Mato Grosso will reach 38.14 million tons in 2021/22, which will be a new historical record. 91% of crops are in good and excellent condition in Parana, but there are still concerns that the indicator will deteriorate due to lower rainfall.

- The Rosario Grain Exchange forecasts a wheat production in Argentina in 2021/22 of 22.1 million tons, which is 1.4 million tons more than the previous estimate. The latest forecast of the Buenos Aires Grain Exchange is for a production of 20.3 million tons.

- According to the forecast of Oil World, rapeseed areas in India will reach a record 7.76 million hectares in 2022/23, which is 30% more than 2021/22. The rapeseed production is expected to reach 9.1 million tons (8.5 in 2021/22 and 7.5 on average for the last five years). Rapeseed processing in the country will be 8.3 million tons (7.95 in 2021/22), which will be a new record for the country.

- Over the period of July - September, soyoil imports in Morocco reached 173,000 tons, according to data from Oil World.

- At the end of November, palm oil stocks in Malaysia decreased by 3.2% to 1.78 million tons (1.83 months earlier). Over the month palm oil exports from the country reached 1.57 million tons (+10.9%) and palm oil production decreased by 1% to 1.70 million tons.