Grain Highlights 16.12.2021

16 Dec, 2021
Grain Highlights 16.12.2021
According to Oil World, in the first 3 months of the current MY, soybean imports to China are at their lowest level of 20.56 million tons for the last 4 years (28 years earlier).

- According to APC-Inform, 6.7 million tons of cereals were exported from Ukraine in November (5.4 in October). Exports of wheat were 2.2 million tons (-34.4%), corn exports reached 4 million tons (+300%) and barley exports were 0.46 million tons (-34.1%). The largest customer of Ukrainian wheat in November was Egypt with 485,500 tons. The largest customer of Ukrainian corn was China with 1.4 million tons (35.5% of exports) and тhe largest customer of Ukrainian barley was Turkey with 157,400 tons.

- Export prices of sunseed oil from Ukraine with delivery within January - February have fallen to the lowest level since the beginning of the season to 1,305 - 1,310 USD/ton. The drop in price for the last week reached 100 USD/ton.

- Yesterday, commodity funds in Chicago were net buyers of 1,000 soybean contracts and net sellers of 5,000 corn contracts and 20,000 wheat contracts.

- According to Oil World, in the first 3 months of the current MY, soybean imports to China are at their lowest level of 20.56 million tons for the last 4 years (28 years earlier). The reduction is due to the reduced demand for soymeal in the country due to the usage of substitutes.

- According to Abiove's forecast, the soybean production in Brazil will reach 144.8 million tons in 2021/22, which will be a new record for the country. In 2020/21, the soybean production was 6.5 million tons less. Soybean exports in the new season are expected at 93.4 million tons (+1.3 and 86). Soybean processing in the country is projected to reach 48 million tons (+1.5 compared to the previous season).

- As of December 8, 2021, Argentine farmers have sold 35.7 million tons of soybeans from the new crop, which is 0.9 million tons less than the previous year. According to data from the Buenos Aires Grain Exchange, the soybean production in the country reached 43.1 million tons in 2020/21, which is 5.9 million tons less than the previous season. The sowing campaign of soybeans takes place over the months of October-November and the harvesting campaign takes place over April-June. 45.9 million tons of corn from the 2020/21 crop were sold and additional 11.4 million tons from the new 2021/22 crop, compared to 41.1 million tons and 10.5 million tons a year earlier.