Grain Highlights 06.12.2021

06 Dec, 2021
Grain Highlights 06.12.2021
Saudi Arabia bought 689,000 tons of wheat with 12.5% ​​protein at an average price of 365.14 USD/ton C&F and delivery in July.

- The Russian government will probably introduce a restriction on grain exports from the country of 14 million tons of grain (including 9 million tons of wheat) over the period of 15.02 - 30.06.2022. In 2020/21, the quota was for a total export of 17.5 million tons.

- According to analysts from Strategie Grains, the rapeseed production in the EU will reach 18 million tons in 2022, which is 6% more than in 2021. The highest production growth will be realised in Germany, France and Poland. The sunseed production in the EU is expected to reach 9.9 million tons (10.4).

- According to AHDB data, at the end of November, 84% of wheat crops (57% a year earlier), 90% of the winter barley crops (58%) and 78% of the rapeseed crops (77%) were in good and excellent condition in the UK.

- In 2021/22, soybean exports from the United States to China will fall by 20% to less than 30 million tons. Due to the damage from Hurricane Ida, there was a delay in operations during the most active period for soybean exports from the United States.

- On Friday, commodity funds in Chicago were net buyers of 4,000 contracts of corn and 11,000 contracts of soybeans and net sellers of 6,500 contracts of wheat.

- By February 15, 2022, 51 million tons of soybeans will be harvested in Brazil, which is a record for the country. In 2018/19, 47.4 million tons of soybeans were harvested. As of January 15, 2022, 6.5-9 million tons of soybeans will be harvested. The total soybean production is projected to reach 144.6 million tons (137) and soybean exports are expected at 92.2 million tons (+6.6).

- Saudi Arabia bought 689,000 tons of wheat with 12.5% ​​protein at an average price of 365.14 USD/ton C&F and delivery in July. The supplies will most likely be from the EU, the Black Sea region, North and South America and Australia. At the previous tender on November 1, 2021, 1.268 million tons of wheat were purchased at a price of 377.54 USD/ton C&F.

- According to the China Bureau of Statistics, the corn production in China reached 272.6 million tons in 2021, which is 4.6% more than the previous year. Corn areas estimate has been increased by 5% to 43.32 million hectares. The wheat production is estimated at 136.9 million tons.