Grain Highlights 30.11.2021

In their November report, analysts from Oil World raised their forecast for world's soyoil production in 2021/22 to 61.9 million tons (61.54 in the previous estimate and 59.3 in 2020/21).

- Yesterday, commodity funds in Chicago were net sellers of 15,000 contracts of corn, 8,000 contracts of soybeans and 12,000 contracts of wheat.

- According to the latest ABARES forecast, the wheat production in Australia will be 34.4 million tons in 2021/22, which will be 3% more than in 2020/21. The barley production is expected at 13.3 million tons, which will be the second highest result in history. The canola production is projected to reach a record 5.7 million tons (27%).

- According to data from Safras & Mercado, as of November 26, 2021, 92.6% of the planned areas or 4.38 million hectares have been sown with corn.

- In their November report, analysts from Oil World raised their forecast for world's soyoil production in 2021/22 to 61.9 million tons (61.54 in the previous estimate and 59.3 in 2020/21), including:

  • United States - 11.9 million tons (+0.55)
  • China - 17.13 million tons (+0.5)
  • Brazil - 9.93 million tons (+0.53)
  • Argentina - 8.27 million tons (+0.34)

Soyoil exports are projected to reach 13.59 million tons (13.19 in 2020/21). The world's ending soyoil stocks will be 6.7 million tons (6.4).