Grain Highlights 27.01.2022

According to the forecast of HIS Markit, corn areas in the United States will be 89 million acres in 2022 (91.49 in the December estimate and -1.87 compared to 2021).

- Over the period of July-December 2021/22, a record 15.9 million tons of wheat were exported from Ukraine (12.5 years earlier). Wheat exports to Turkey were 1.532 million tons (0.56), exports to Saudi Arabia reached 621,900 tons (64,200) and wheat exports to Israel were 325,400 tons (160,200).

- According to the forecast of HIS Markit, corn areas in the United States will be 89 million acres in 2022 (91.49 in the December estimate and -1.87 compared to 2021). The areas with spring wheat (excluding durum wheat) will be 12.01 million acres (-710,000 and +590,000). The soybean areas are projected to reach 87.81 million acres (-1.01 and +610,000).

- Yesterday, commodity funds in Chicago were net buyers of 7,500 contracts of corn and 15,000 contracts of soybeans and net sellers of 12,000 contracts of wheat.

- According to the forecast of Safras & Mercado, soybean exports from Brazil will decrease by 4.5 million tons in 2022 compared to the previous estimate to 85.5 million tons, which is 1% below the level of 2021. The soybean production in 2021/22 is estimated at 132.33 million tons (-8.55% compared to the previous estimate).

- As of January 27, 2022, the Indonesian authorities have introduced a mandatory sale of part of the quantities purchased by exporters on the domestic market at a price set by the government.

- In 2021, the grain production in Turkey was 31.9 million tons, which is 14.3% less than in 2020. The wheat production was 17.7 million tons (-13.9%), barley production was 5.8 million tons (-30.7%) and the corn production reached 6.8 million tons (+3.8%).

- Algeria has most likely bought 60,000 - 80,000 tons of milling wheat from the Black Sea region at a price of 375 USD/ton C&F.