Grain Highlights 22.11.2022

Algeria has announced a tender to buy at least 50,000 tons of durum wheat with delivery within December-January.

- In October, 152,000 tons of oil crops were exported from Russia, including 67,300 tons of soybeans and 19,600 tons of rapeseed. All 19,600 tons of rapeseed and 47,400 tons of soybeans were exported to China.

- The Russian grain union states that a minimum of 60 million tons of grain should be exported from the country in 2022/23. This is an excess that can bring down the market.

- As of 21.11.2022, 4.4 million hectares of winter cereals have been sown in Ukraine, which is 94% of the forecast. Wheat was sown on 3.8 million hectares (94%), barley 613,000 hectares (91%).

- According to MARS data, the warmest weather in the last 30 years is now being observed in the EU. Moisture in many places is sufficient for the development of the 2022/24 crop crops. There was some drought in Italy, Spain, Bulgaria and Romania, but it is now gone.

- Yesterday, Chicago commodity funds were net sellers of 6,000 corn and 2,500 wheat and 4,000 soybean contracts.

- According to data from the National Council for Energy Policy in Brazil, the biodiesel B10 mandate in the country will be used until 31.03.2023. From April 2023, the B15 standard will be used. After the increase, 30 million tons of biodiesel will be used annually in the country.

- The authorities in China plan to allow the import of soymeal from Brazil. In October, soybean imports into China reached 4.14 million tons (-19% compared to last year), which is the lowest level since October 2014. Given the low import of soybeans, soymeal prices increased by 5.6% during the month. In November, soybean imports to China will be 4.5 million tons, and in December they are expected at 9.5 million tons. Despite the growth, monthly sales of 1.5 million tons of soybeans from the state reserve are also expected.

- The state company of Egypt GACS has announced a tender for the purchase of 40,000 tons of vegetable oils with delivery in January, including 30,000 tons of soyoil and 10,000 tons of sunseed oil.