Grain Highlights 11.01.2022

Over the week of January 12-18, the export tax on wheat from Russia will be 98.2 USD/ton, which is calculated at a wheat price of 340.4 USD/ton. This will probably be the highest tax for this season.

- Yesterday, commodity funds in Chicago were net sellers of 11,000 contracts of corn and 14,000 contracts of soybeans and net buyers of 2,000 contracts of wheat.

- Over the week of 27.12.2021 - 02.01.2022, 870,800 tons of cereals and oilseeds were exported from Canada (903,200 a week earlier). Exports of wheat were 263,800 tons (199,100), soybean exports reached 260,600 tons (184,800) and canola exports were 166,400 tons (164,300). Over the period of 01.08.2021 - 02.01.2022, the country exported 4.98 million tons of wheat (-41%), 1.18 million tons of durum (-52%), 1.48 million tons of barley (-9%), 2.94 million tons of canola (-43%) and 2.38 million tons of soybeans (-17%). The total export since the beginning of the season reaches 15.35 million tons (-37%).

- According to Abitrigo, 381,000 tons of wheat were imported into Brazil in November (517,500 in November 2021 and 284,070 in November 2020). 366,500 tons of wheat were delivered from Argentina (474,800 in October). In the first 11 months of 2021, 5.77 million tons of wheat (5.75) were delivered to the country, including 5.02 million tons from Argentina.

- According to Oil World, in November, exports of palm oil from Indonesia fell to 1.73 million tons (2.58 a month earlier and 2.69 million tons a year earlier). 351,000 tons of oil were exported to China (-25% compared to October), 265,000 tons (-23%) to the EU, 150,000 tons (-36%) to Pakistan, 102,000 tons (-37%) to the United States and 91,000 tons to Bangladesh -41%). In the first 11 months of 2021, palm oil exports from the country reached 25.35 million tons (34.34).

- Turkey has announced a tender for the purchase of 335,000 tons of red milling wheat of any origin and delivery within 10.02 - 10.03.2022.