According to Imea's forecast, the soybean production in the Brazilian state of Mato Grosso will reach 38.14 million tons in 2021/22, which will be a new historical record.
Farmers in Ukraine have almost completed the harvesting campaign of corn and immediately increased sales. The larger volume of corn on the market pushes prices down. Corn price for December range within 258 - 260 USD/ton and prices for January are within 260 - 262 USD/ton.
According to market information, after the sharp decline in soybean prices in Chicago, Chinese importers have bought about 240,000 tons of soybeans from the United States and Brazil with deliveries within December - January. More soybeans were bought from Brazil due to the lower prices.
According to Anec, soybean exports from Brazilian ports reached 2.28 million tons in November (2.98 million tons in October and 770,000 tons in November 2020).
In their November report, analysts from Oil World raised their forecast for world's soyoil production in 2021/22 to 61.9 million tons (61.54 in the previous estimate and 59.3 in 2020/21).
In their November report, analysts from the European Commission raised their forecast for soft wheat exports from the EU in 2021/22 to 32 million tons (30 in the previous estimate).
