Grain Highlights 13.12.2021

Last week, China bought 6-10 loads of French feed wheat (about 600,000 tons) with delivery within January - March 2022. For the whole of 2021/22, wheat exports in this direction are expected to exceed 2 million tons.

- According to the forecast of Rusagrotrans, the grain production in Russia will reach a total of 126 - 127 million tons in 2022, including wheat production of 80 - 81 million tons.

- Over the week of December 6-12, 552,100 tons of grain were exported from the Russian port of Novorossiysk, which is twice as much as the previous week. 468,100 tons of wheat were exported - 208,000 tons to Egypt, 110,000 tons to Iran and 82,500 tons to Syria. Barley exports were 58,000 tons, including 26,100 tons for Turkey.

- As of 09.12.2021, the grain production in Ukraine reached 84.177 million tons (98.6% of the areas have been harvested). Shortly before the end of the harvesting campaign of corn, 40 million tons of corn have already been harvested. The sunseed production reached 16.29 million tons.

- Last week, China bought 6-10 loads of French feed wheat (about 600,000 tons) with delivery within January - March 2022. For the whole of 2021/22, wheat exports in this direction are expected to exceed 2 million tons. Forward purchases of barley were also made from France and Ukraine. Up to 4 loads of French barley and up to 10 loads of Ukrainian barley were purchased with delivery in July-August. No new purchases are expected from other destinations. Up to 10 loads of corn were purchased from Ukraine with delivery over January - April. Deliveries within January - February are priced at 270 - 273 USD/ton FOB. As before, corn purchased from Ukraine was more expensive than American corn. For the whole season, China is expected to buy 5 million tons of corn from Ukraine.

- On Friday, commodity funds in Chicago were net buyers of 2,500 contracts of soybeans and 3,500 contracts of wheat.

- Algeria has announced a tender for the import of mill wheat with delivery within 15.01 - 28.02.2022. 800,000 tons of wheat were purchased at the previous tender.

- ICAR has raised its forecast for the total grain production in Russia in 2021 to 122.7 million tons, which is 1 million tons more than the previous estimate. The wheat production is projected at 76.7 million tons (75.5), barley production is estimated at 18.2 million tons and corn production is expected at 15.3 million tons.

- Egypt plans another purchase of 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery within February 5-22. 3,000 tons of soyoil and 10,000 tons of sunseed oil will be purchased at an domestic tender with delivery over February 1-20.