Grain Highlights 09.03.2022

There will be a shortage of sunseed oil in the EU in 4-6 weeks. Stocks at that time will be depleted as there are no supplies from Ukraine.

- Yesterday, commodity funds in Chicago were net buyers of 13,500 contracts of soybeans and 2,500 contracts of corn and net sellers of 14,000 contracts of wheat.

- According to Conab, as of 05.03.2022, 52% of the soybean areas were harvested in Brazil (+10% for the week and 38% a year earlier). The harvesting campaign of corn from the first crop was carried out on 26% of the areas (25%), and the sowing campaign of corn from the second crop was completed on 75% of the planned areas (+15% and 54%).

- Over the period of January-February, soybean imports to China reached 13.94 million tons according to the country's customs service, which is 4.1% more than the previous year - 13.41 million tons .

- According to ABS data, the export of malting barley from Australia reached 73,650 tons in January (18,560 in December) and fodder barley exports were 549,450 tons (938,290). The largest customers were Saudi Arabia with 229,110 tons and Jordan with 126,000 tons.

- The Indonesian authorities will continue to restrict the export of palm oil from the country.

- Jordan has canceled a tender for the supply of 120,000 tons of wheat. A new tender has been announced, which will be held on March 16, 2022.

- In the current season, India can export a record 7 million tons of wheat. The current record of 6.6 million tons was set back in 2013/14. In recent days, deals have been agreed for the export of 0.5 million tons of wheat from the country and FOB prices are now at 340 - 350 USD/ton.

- In recent days, two ships with wheat have arrived in Lebanon from Ukraine - a total of 15,000 tons.