According to Statistics Canada, canola stocks in Canada were 12.14 million tons as of 31.12.2020, which is 24% less than the previous year and the lowest level for the last 8 years.
Starting from 01.04.2021, Russia introduces an export tax on wheat at the amount of 70% of the difference between a base price of wheat per ton and 200 USD/ton.
According to the forecast of S&P Global Platts, the wheat production in the EU+UK will reach 147 million tons in 2021/22, which is 8% more than the previous season.
Due to less rainfall, Buenos Aires Grain Exchange has lowered its forecast for the soybean production in Argentina by 0.5 million tons to a total of 46 million tons (49 million tons in 2019/20).
As of Jan 27, 2021, 72 ships are waiting to be loaded in the ports of Rostov-on-Don. Everyone is in a hurry to export before the implementation of the export tax on wheat on 15.02.2021.
