Grain Highlights 07.04.2022

According to StoneX's forecast, the Brazilian corn production will reach 118.6 million tons in 2021/22 (116.1 in the previous estimate).

- Yesterday, commodity funds in Chicago were net sellers of 3,500 contracts of corn, 6,000 contracts of soybeans and 2,000 contracts of wheat.

- According to data from Oil World, over October - February 2021/22, exports of canola oil from Canada reached 1.1 million tons (1.4 years earlier) and exports of cannabis meal were 1.9 million tons (2.2). According to Statistics Canada, canola exports from Canada reached 300,000 tons in February (850,000 in February 2021 and 490,000 in January 2022). Since the beginning of the season, canola exports totaled 3.1 million tons (5.2).

- According to Anec's forecast, soybean exports from Brazil will reach 11.1 million tons in April (-8.6% compared to March and -30% compared to April 2021). Exports of soymeal will be 1.9 million tons (1.37 and 1.58). Over the period of April 3-9, 3.64 million tons of soybeans and 558,000 tons of soymeal were prepared in the ports for export. In April, corn exports are projected to reach 60,000 tons (107,300 and 508,200).

- In the first three months of the year, imports of fertilizers in Brazil reached 10.43 million tons, which is 27.4% more than the previous year. The main suppliers are Russia, China and Belarus.

- According to StoneX's forecast, the Brazilian corn production will reach 118.6 million tons in 2021/22 (116.1 in the previous estimate). Safras & Mercado forecasts a corn production of 118.16 million tons (115.64).

- According to the FAS USDA forecast, the canola production in Australia will be 4.7 million tons in 2022/23 (6.35 in 2021/22). The country's export potential will be 3.6 million tons (4.8).

- According to S&P Global in March, palm oil stocks in Malaysia increased by 0.9% compared to February to 1.53 million tons. During the month, palm oil production reached 1.34 million tons (+17%) and the export were 1.2 million tons (+18%), which is the highest level for the last three months.

- According to the FAS USDA forecast , the import of wheat in Bangladesh will reach 7.6 million tons in 2022/23 (+0.2 compared to 2021/22). In 2020/21, deliveries from India accounted for 26% of imports. Imports from Russia were 26%, imports from Canada were 20% and imports from Ukraine were 10% of total imports. In the first seven months of 2021/22, 66% of the total wheat imports came from India, 15% came from Ukraine and 7% came from Russia.

- Jordan has canceled a tender for the purchase of 120,000 tons of feed barley of any origin. A new tender has been announced for the same amount with delivery within August - September, which will be held on 12.04.2022.