Grain Highlights 11.11.2021

11 Nov, 2021
Grain Highlights 11.11.2021
According to data from the European Commission, 9.78 million tons of milling wheat have been exported from the EU since the beginning of the current season (01.07 - 07.11.2021), which is 15% more than the previous year - 8.47 million tons.

- According to a statement by the Ministry of Agriculture of Russia, with the continued growth of wheat prices, the export tax will be increased. Now, the export tax on wheat is 69.9 USD/ton. In the first half of 2022, quotas for grain exports from Russia will be introduced, including a quota for wheat exports.

- According to data from the European Commission, 9.78 million tons of milling wheat have been exported from the EU since the beginning of the current season (01.07 - 07.11.2021), which is 15% more than the previous year - 8.47 million tons. Over the week of November 1 - 7, exports reached 102,800 tons (373,200). The largest customers for the season are Algeria with 1.4 million tons, Egypt with 1.2 million tons, South Korea with 823,300 tons, Nigeria with 663,500 tons and Jordan with 461,900 tons. The top 3 exporters to non-EU countries are Romania with 3.5 million tons, Bulgaria with 1.6 million tons and Germany with 1.1 million tons.

- FranceAgriMer experts have lowered their forecast for soft wheat exports from France outside the EU for 2021/22 to 9.4 million tons (9.6 in the previous estimate). Wheat exports to EU countries will be 7.8 million tons (-0.2). Consumption of wheat for feed in the country will decrease to 4.8 million tons. The ending wheat stocks are expected to reach 3.2 million tons (2.4). The ending stocks of corn are estimated at 1.9 million tons (+0.1) and the ending stocks of barley are projected at 1.4 million tons (+0.1).

- Yesterday, commodity funds in Chicago were net buyers of 4,000 contracts of corn, 17,500 contracts of soybeans and 8,500 contracts of wheat.

- As of November 11, 2021, 213,300 hectares of corn were harvested in Belarus (97.3% of the area) and 1,522 million tons of corn were harvested at an average yield of 7.14 tons/hectare.

- Bangladesh will hold an international tender for the purchase of 50,000 tons of milling wheat of any origin.

- At the end of October, palm oil stocks in Malaysia increased by 4.4% compared to September to 1.834 million tons. Production increased by 1.3% for the month to 1.726 million tons. Ending stocks reached 1,803 million tons and palm oil exports were 1,418 million tons (-12%).

- Tunisia has purchased 100,000 tons of milled wheat at prices of 380.30 - 385.6 USD/ton C&F and 75,000 tons of barley at prices within 356.48 - 359.88 USD/ton of C&F.