Grain Highlights 15.12.2021

The quota for grain exports from Russia is expected to be 11 million tons, which is below previous forecasts.

- The quota for grain exports from Russia is expected to be 11 million tons, which is below previous forecasts. Wheat exports will be limited to 8 million tons. Quantities are below expectations, but not critically low, analysts say. The quota will be valid during the period of 15.02 - 30.06.2022. A quota of 14 million tons of grain, including 9 million tons of wheat, was initially being discussed.

- According to the December MARS report, winter crops in the EU are in good condition. In some areas, the cold resistance of crops is low.

- Yesterday, commodity funds in Chicago were net buyers of 5,500 contracts of corn and 10,500 contracts of soybeans and net sellers of 2,500 contracts of wheat.

- Anec raised its estimate for soybean exports from Brazil in December to 2.8 million tons (161,000 tons in December 2020). For the whole of 2021, exports are projected at 86.9 million tons. Exports of soymeal are expected to reach 1.7 million tons (+57.7%). Over the period of January - November, exports were 15.3 million tons (15.7).

- According to Oil World, exports of palm oil from Indonesia reached 2.58 million tons in October 2021 (2.28 in September and 2.3 in October 2020), including 466,000 tons for China, 344,000 tons for the EU, 234,000 tons for Pakistan and 201,000 tons for India. Over the period of January - October, exports of palm oil from Indonesia reached 23.6 million tons (21.61), including 4.08 million tons for China (2.88), 2.2 million tons for Pakistan (1.8), 1.2 million tons for Malaysia (0.6), 1.2 million tons for the United States (0.7) and 2.9 million tons for India (3.9).

- The Egyptian state-owned company GASC purchased 30,000 tons of soyoil at a price of 1,354.5 USD/ton C&F and 39,000 tons of sunseed oil for 1,390 USD/ton C&F. 36,000 tons of soyoil were purchased from the domestic market.

- Algeria bought 690,000 - 700,000 tons of milling wheat at a price of 372 - 376 USD/ton C&F and delivery in February. 800,000 tons of wheat were purchased at the previous tender.