Grain Highlights 29.10.2021

According to Oil World, world's canola exports will fall to 14.88 million tons in 2021/22, which is 18% less than 2020/21 (18.13 million tons) and this will be the lowest level for the last 9 years.

- For the week starting from 10.11.2021, the export tax on Russian wheat will be 69.9 USD/ton (67 weeks earlier). The export tax on barley will be 54.8 USD/ton (42.6) and the export tax on corn will be 50.1 USD/ton (49.7).

- According to FranceAgriMer, as of October 25, 2021, 54% of the corn areas in France have been harvested (+22% for the week and 87% a year earlier). The sowing campaign of winter wheat was carried out on 61% of the planned areas (+21% and 63%) and the sowing campaign of winter barley has been carried out on 78% of total planned areas (+19% and 77%).

- According to the AHDB forecast, wheat production in the UK will be 14.02 million tons in 2021/22 compared to only 9.66 million tons in 2020/21. Imports will reach 1.7 million tons (2.43), domestic consumption is estimated at 14.7 million tons (12.9), including 7.24 million tons for feed (+21%) given the lower barley production of 7.1 million tons (-1).

- According to Anec's estimates, 1.25 million tons of soybeans and 773,000 tons of corn were prepared for export to Brazilian ports over the period of October 24 - 30. A week earlier, 579,900 tons of soybeans and 397,600 tons of corn were exported. In October, the country exported 3.43 million tons of soybeans (4.7 in September and 2.17 in October 2020) and 2.14 million tons of corn (2.55 and 4.53). Since the beginning of the year, soybean exports have totaled 82.4 million tons (unchanged) and corn exports reach a total of 14.13 million tons (-40%).

- According to the forecast of the Buenos Aires Grain Exchange, the wheat production in Argentina will be 19.8 million tons in 2021/22 (19.2 in the previous estimate and 17 million tons in 2020/21). As of October 28, 2021, 47% of the wheat crops are in good and excellent condition (44% a week earlier and 14% a year earlier). 6.7% of the areas with the new wheat crop have been harvested.

- The Indonesian authorities have raised the reference price for palm oil in November to 1,283.38 USD/ton compared to 1,196.60 USD/ton in October. Thus, the export tax on unrefined palm oil increased from 166 USD/ton to 200 USD/ton and from 83 USD/ton to 117 USD/ton for olein.

- Jordan purchased 60,000 tons of Australian barley at a price of 333 USD/ton C&F and delivery at the end of February 2022.

- According to Oil World, world's canola exports will fall to 14.88 million tons in 2021/22, which is 18% less than 2020/21 (18.13 million tons) and this will be the lowest level for the last 9 years. Exports from Canada will be 6.27 million tons (11), 4.18 million tons from Australia (3.13) and 2.56 million tons from Ukraine (2.4).