Grain Highlights 25.01.2022

According to USDA data, the condition of winter wheat crops in the United States has been deteriorating in January.

- According to the forecast of Rusagrotrans, wheat exports from Russia will reach 33 million tons in 2021/22 and total grain exports will be 43 million tons. In January, 2 - 2.2 million tons of wheat will be exported from the country.

- According to MARS, most winter crops in the EU are currently in good condition due to the warm winter and sufficient rainfall. There is a significant increase in rapeseed areas of 12% in France and +9% in Germany compared to 2021.

- According to USDA data, the condition of winter wheat crops in the United States has been deteriorating in January. In Kansas, 30% of crops are in good and excellent condition (33% in early January and 43% a year earlier). In Oklahoma, 16% of the crops are in good and excellent condition (20% and 61%).

- Yesterday, commodity funds in Chicago were net buyers of 13,000 contracts of wheat and 6,000 contracts of corn and net sellers of 9,000 contracts of soybeans.

- According to the forecast of Agri-Food Canada, canola production in Canada will increase by 7 million tons in 2022/23 compared to 2021/22. Canola exports are projected to reach 10.5 million tons.

- In Brazil, 5% of the soybean areas have been harvested. Yields in Mato Grosso are satisfactory, but low in Paraná. The drought also affected the state of Rio Grande do Sul, but the harvesting campaign have not started there yet.

- Algeria is looking to buy at least 50,000 tons of milled wheat with delivery within February-March. 600,000 tons of wheat were purchased at the previous tender.