Grain Highlights 01.03.2022

The EU has imposed sanctions restricting work with the Russian port of Novorossiysk. Sanctions have also been imposed on a number of other large companies in Russia.

- The Danish company Maersk is suspending all container shipments to and from Russia. Exceptions will be only cargo such as food, medicine and humanitarian aid.

- The EU has imposed sanctions restricting work with the Russian port of Novorossiysk. Sanctions have also been imposed on a number of other large companies in Russia.

- Yesterday, commodity funds in Chicago were net buyers of 32,500 contracts of corn, 21,500 contracts of soybeans and 28,000 contracts of wheat.

- According to Conab, as of February 26, 2022, 42% of the soybean areas in Brazil have been harvested (+10% for the week and 23% for the year before). In Mato Grosso, 80% of the areas has been harvested. The first corn crop was harvested on 23% of the areas, and the second corn crop was sown on 60% of the planned areas (32% a year earlier).

- According to the forecast of Abares, the production of summer crops in Australia will increase by 64% compared to last year to 5.3 million tons, including sorghum production of 2.6 million tons. The total production of winter crops was 61.9 million tons (+6% compared to the December estimate), including wheat production of 36.3 million tons, barley production of 13.7 million tons and canola production of 6.4 million tons.

- Tunisia has announced a tender for the purchase of 75,000 tons of durum with delivery within 20.03 - 20.04.2022.

- Algeria has announced a tender for the purchase of at least 50,000 tons of durum wheat with delivery in April.