Grain Highlights 11.12.2021

For the week starting from 10.12.2021, the export tax on Russian wheat will be 91 USD/ton (84.9 weeks earlier).

- For the week starting from 10.12.2021, the export tax on Russian wheat will be 91 USD/ton (84.9 weeks earlier). The export tax on barley will be 75.1 USD/ton (78.7) and the export tax on corn will be 54.3 USD/ton (54.4).

- According to the latest forecast of Rusagortarns, wheat exports from Russia will reach 33 million tons in 2021/22.

- On Thursday, commodity funds in Chicago were net buyers of 2,500 contracts of corn and net sellers of 1,500 contracts of soybeans and 9,500 contracts of wheat.

- In their November report, Conab analysts once again raised their forecast for the soybean production in Brazil in 2021/22 by 0.8 million tons to 142.8 million tons. The estimate for soybean areas increased by 3.7% to 40.3 million hectares. Soybean exports will reach 85.8 million tons (-4.1 compared to November) and domestic soybean consumption is projected at 48.4 million tons (-2.3). The corn production is expected to reach 117.2 million tons (+0.5 and + 34.6%) and corn exports are estimated at 36.38 million tons (19.2 in 2020/21). The wheat production will reach 7.8 million tons.

- According to the Buenos Aires Grain Exchange, as of December 8, 2021, 3.43 million hectares of wheat were harvested in Argentina (54.3% of total wheat areas and +8.5% for the week) and 10.1 million tons of wheat were harvested. The forecast for the total wheat production has been raised by 0.7 million tons to 21 million tons.

- The Rosario Grain Exchange raised its forecast for the wheat production in Argentina in 2021/22 by 1.4 million tons to 22.1 million tons (17 years earlier).