- Over the week of 19 - 25.01.2022, the export tax on Russian wheat will be reduced to 97 USD/ton (98.2). This is the first decline since 22.09.2021. The export tax on barley will be 79 USD/ton (86.2) and the export tax on corn will be 46.1 USD/ton (67.7).

- According to a forecast by a Russian analyst, the total grain prodution in Russia will reach 129.6 million tons in 2022 (+7.4% compared to 2021), including wheat production of 82 million tons, barley production of 19.1 million tons and corn production of 15.5 million tons.

- Over the period of January - November 2021, wheat exports from Russia reached 29.962 million tons (-10.8% compared to the previous year). In November, exports amounted to 3.19 million tons (+12.7%).

- In the first half of 2021/22, barley exports from Ukraine to Turkey reached 915,600 tons (12,000 a year earlier and 22,900 tonnes for the whole of 2020/21). Turkey ranks second among buyers of Ukrainian barley for the period.

- On Thursday, commodity funds in Chicago were net sellers of 16,000 contracts of corn, 14,000 contracts of soybeans and 8,000 contracts of wheat.

- AgroConsult has lowered its forecast for the soybean production in Brazil in 2021/22 by 10.1 million tons to 134.2 million tons. In 2020/21, the soybean production was 137.1 million tons. Soybean exports will be 90 million tons (92). The corn production is projected at 119 million tons (-4.6), incl. first corn harvest 24.5 million tons.

- According to the Statistical Office of Australia, in November 2021, the export of barley from the country reached 659,500 tons (+53% compared to October). The largest buyers were Saudi Arabia with 317,900 tons (the highest level since March 2021), the Philippines with 149,300 tons (the highest level in history) and Vietnam with 53,900 tons.

- In 2021, soybean imports to China reached 96.52 million tons compared to 100.33 million tons in 2020. This is the first decline since 2018. The decline in imports in the second half of 2021 is due to the low margin of soybean processors in China. The lowest level of imports was in the period of September-October given the logistical problems of the United States. In December 2021, imports increased by 18% compared to December 2020 to 8.87 million tons.

- The authorities in China plan for the domestic soybean production to reach 23 million tons in 2025. In 2021, the soybean production was 16.4 million tons, which was a decrease of 16% compared to 2020. The rapeseed production is planned to reach 18 million tons, wheat production is projected at 140 million tons and corn production is estimated at 277.5 million tons.

- Iran bought 240,000 tons of milling wheat at prices within 350 - 364 EUR/ton C&F and delivery over February - March. A week earlier, 240,000 tons were purchased, and in December 740,000 tons were purchased.

- Iraq has bought 150,000 tons of wheat from Australia at a price of 447 USD/ton C&F.

- In their January report, IGC analysts forecast a global wheat production in 2021/22 of 781.3 million tons (777.3 in December and 773.1 in 2020/21), including:

• Australia - 35.5 million tons (32 and 33.3)
• Argentina - 22.1 million tons (19.9 and 17.6)
• EU - 138.2 million tons (138 and 124.5)

World wheat exports will reach 196.1 million tons (195.7 and 190.7), including:

• Argentina - 14.3 million tons (13.5 and 12.2)
• Australia - 24 million tons (23.5 and 23.5)
• Kazakhstan - 7.3 million tons (7 and 8.1)
• United States - 23.2 million tons (23.8 and 26.8)
• Russia - 33.4 million tons 34.1 and 38.4)
• Canada - 16.8 million tons (17 and 26.3)

The world ending wheat stocks will be 276 million tons (274.3 and 277.6), including:

• Argentina - 2.9 million tons (2.5 and 1.4)
• United States - 16.3 million tons (15.8 and 23)
• EU - 12.4 million tons (12.6 and 9.7)
• Kazakhstan - 0.7 million tons (0.9 and 0.9)