Grain Highlights 21.01.2022

In December, 1 million tons of oilseeds were exported from Ukrainian seaports (1.15 in November).

- In the week starting on January 26, 2022, the export tax on Russian wheat will be 95.8 USD/ton (97.5). The export tax on barley will be 74.4 USD/ton (79) and the export tax on corn will be 50.6 USD/ton (46.1).

- In December, 2.9 million tons of wheat (+22.2% compared to November), 258,700 tons of corn (-25.7%), 266,600 tons of barley (-1,800 tons) were exported from Russia. The largest buyer of wheat was Turkey with 760,100 tons. The largest buyer of barley was also Turkey with 192,800 tons and the largest corn buyer was Iran with 139,300 tons.

- Over the period of July-November, 18.2 million tons of wheat were exported from Russia (21 years earlier). The biggest buyers were Iran, Turkey, Egypt, Nigeria and Azerbaijan.

- On Thursday, commodity funds in Chicago were net buyers of 19,000 contracts of soybeans, net sellers of 4,000 contracts of wheat and neutral to corn.

- In Argentina, 94.8% of the planned soybean areas have been sown. The areas are expected to reach a total of 16.4 million hectares. Recent rainfall is assessed as favorable, but not quite sufficient to restore crops.

- In December, 1 million tons of oilseeds were exported from Ukrainian seaports (1.15 in November). The export of sunseed and its products reached 790,300 tons, including sunssed oil exports of 562,600 tons (+17.1%). The largest buyers were India with 223,900 tons, Turkey with 137,100 tons and France with 97,000 tons.

- In 2021, wheat imports to China reached a record 9.8 million tons (+17%). The result is due to the change in wheat consumption in the country. According to Sitonia's forecast, imports are expected to grow in 2022.

- According to the Australian Bureau of Statistics, canola exports from Australia reached 213,500 tons in November (14,400 in October and 233,900 in November 2020). The growth is due to the entry of the new crop. The largest buyers in December were Pakistan with 64,400 tons, the Netherlands with 57,900 tons and Belgium with 54,600 tons. According to Abares, the canola production in Australia is expected to reach 5.7 million tons this season and exports will exceed the current record of 3.5 million tons set back in 2012/13.