Grain Highlights 14.02.2022

14 Feb, 2022
Grain Highlights 14.02.2022
The record feed wheat productions in Australia and India will compensate for the reduction in the supply of corn from South America to Asian countries.

- According to ICAR's forecast, the area of ​​oilseeds in Russia will be 16.7 million hectares in 2022 (16.48 in 2021). Sunseed areas will decrease to 9.34 million hectares (9.65).

- Over the week of February 7-13, grain exports from the Russian port of Novorossiysk reached 467,900 tons, including 418,900 tons of wheat and 49,000 tons of barley. The main customers for wheat were Iran with 163,300 tons, Sudan with 67,800 tons, Egypt with 52,200 tons. All barley was sent to Libya.

- As of 01.02.2022, stocks of cereals in Kazakhstan were 10.05 million tons (11.66 at the beginning of January). Wheat stocks reached 8.15 million tons.

- On Friday, commodity funds in Chicago were net buyers of 4,500 contracts of corn, 5,000 contracts of soybeans and 13,500 contracts of wheat.

- The Buenos Aires Grain Exchange forecasts a corn production in Argentina in 2022 of 51 million tons (57 in the previous estimate). As of February 10, 2022, 28% of the crops are in good and excellent condition, 47% in fair condition and 25% in poor and very poor condition.

- In December, 2.21 million tons of wheat were exported from Australia, which is 45% more than in November. Exports to China were 714,800 tons. Wheat exports to Indonesia were 231,800 tons. 173,900 tons of wheat were exported to Japan and 172,200 tons to Malaysia. Over the period of July - December, wheat exports reached 10.44 million tons, including 2.11 million tons for China, 1.68 million tons for Indonesia and 1.11 million tons for Vietnam.

- The record feed wheat productions in Australia and India will compensate for the reduction in the supply of corn from South America to Asian countries. The total wheat production in Australia and India will be 143 million tons, which is 20 million tons above the average for the last five years. Total wheat exports from both countries will be 32.5 million tons, which is twice the average level. Indian feed wheat is now available in Asian countries at USD 315/ton C&F. Australian feed is priced at USD 335/ton C&F and Black Sea feed wheat is priced at USD 355/ton C&F.

- Egypt has announced a tender for the purchase of vegetable oils with delivery within April 5-25.

- The record low rainfall in Morocco has led to the worst drought in the country in 30 years.