- Experts from SovEcon have increased their estimate for wheat exports from Russia by 0.2 million tons to 34.3 million tons. The quota for wheat exports from Russia, which will be introduced in the period 15.02 - 30.06.2022, is projected to be fulfilled. SovEcon believes that the risk of problems with supplies from the Black Sea region remains low.

- According to the Russian Ministry of Agriculture, wheat areas will reach 29.535 million hectares, which will be 818.1 thousand hectares more than the previous season. Corn areas will increase by 34 thousand hectares to 3.008 million hectares. Barley areas will remain at 8.189 million hectares.

- Over the week 02 - 08.02.2022, the export tax on Russian wheat will be 93.9 USD/ton (95.8 a week earlier), the export tax on barley will be 74.4 USD/ton (74.6) and the export tax on corn will be 49.2 USD/ton (50.6).

- Over the week of January 24-30, 208,200 tons of wheat were exported from the Russian port of Novorossiysk, which is 5% more than the previous week. The main customers were Egypt, Turkey, Pakistan and Sudan.

- On Friday, commodity funds in Chicago were net buyers of 19,000 contracts of corn, 12,500 contracts of soybeans and 5,500 contracts of wheat.

- According to Conab's forecast, cereals and oilseed production in Brazil will be 284.4 million tons in 2021/22 (+32 compared to 2020/21). A record wheat production is expected.

- Iran has bought 60,000 tons of feed barley and 60,000 tons of soymeal with delivery within February-March.