Grain Highlights 03.02.2022

According to the forecast of the Cogo agency, the soybean production in Brazil will reach 125 million tons in 2021/22 (131 in the previous estimate and -14.2% compared to 2020/21).

- Yesterday, commodity funds in Chicago were net buyers of 9,000 contracts of soybeans and net sellers of 15,000 contracts of corn and 9,500 contracts of wheat.

- According to the forecast of the Cogo agency, the soybean production in Brazil will reach 125 million tons in 2021/22 (131 in the previous estimate and -14.2% compared to 2020/21). Datagro estimates the soybean production at 130 million tons (142.05 and 144.06).

- Egypt's wheat stocks are sufficient to meet domestic consumption for the next 5 months.

- According to the forecast of the USDA attache in Turkey, wheat imports in the country will be 5 million tons in 2021/22 compared to a previous estimate of 10.8 million tons. There is a discrepancy in the data with the statistical office of Turkey, which estimates imports at 5.3 million tons over the period of June - November.

- Tunisia bought 75,000 tons of durum wheat at prices of 348.69 - 350.77 USD/ton, 100,000 tons of soft wheat at prices of 348.69 - 350.77 USD/ton and 75,000 tons of barley at prices of 332.69 - 342.00 USD/ton.

- The IGC forecasts an increase in world's rapeseed areas in 2022/23 and they are now projected to reach a record 40 million hectares.

- Bangladesh has announced a tender for the purchase of 50,000 tons of milling wheat of any origin.