According to market data, Indian importers have bought a record 100,000 tons of soyoil from the United States given the limited supply from South America and high palm oil prices.
According to Chinese analysts, China could reduce domestic consumption of soybeans by about 30 million tons by further reducing its consumption in feed.
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.
Conab has lowered its forecast for the soybean production in Brazil in 2021/22 by 15 million tons compared to the previous estimate (140.7) to 125.4 million tons.
According to the Statistical Office of Canada, as of 31.12.2021, the stocks of cereals and oilseeds in the country were 46.67 million tons (-20.8 compared to the previous year).
In January, wheat exports from France to non-EU countries were at their lowest level for the last five months, reaching 775,000 tons (808,200 in December and 546,000 in January 2021).
According to data from the Buenos Aires Grain Exchange, as of February 3, 2022, 37% of soybean crops are in good and excellent condition in Argentina (38 weeks earlier and 17% last season).
