Grain Highlights 23.02.2022

According to Oil World, in January, soybean processing in Argentina reached 2.51 million tons (2.95 in December and 3.22 in January 2021).

- In 2021, the quality of Russian wheat was at a record high. Of the 76 million tons of wheat harvested, 65.5 million tons is milled. In 2017, the wheat production reached a record 86 million tons, but only 58 million tons was of high quality.

- At the beginning of February, grain stocks in Ukraine were 26.6 million tons, which is 8.3 million tons more than the previous year. Wheat stocks were 8.2 million tons (+60%), barley stocks were 1.3 million tons (+39%) and corn stocks were 16.5 million tons (+44%). Sunseed stocks reached 6.1 million tons (+43%).

- As of February 20, 2022, 26% of winter wheat crops were in good and excellent condition in the US state of Kansas (30% as of January 24, 2022), and 9% (16%) in Oklahoma. The winter wheat areas in the United States reach 34.4 million acres, which is the highest level for the last 6 years.

- Yesterday, commodity funds in Chicago were net buyers of 23,500 contracts of corn, 18,500 contracts of soybeans and 19,000 contracts of wheat, which is an exceptional activity in the market.

- According to Oil World, in January, soybean processing in Argentina reached 2.51 million tons (2.95 in December and 3.22 in January 2021). The country's soyoil stocks were 205,000 tons (245,000 and 319,000), and soymeal stocks were 919,000 tons (724,000 and 612,000). Over the month, exports of soymeal reached 1.4 million tons (2.55 in January 2021). Sunseed crush reached 162,000 tons (121,000).

- Turkey bought 6,000 tons of sunseed oil at a price of 1,474.9 USD/ton C&F and delivery in March.