Grain Highlights 29.04.2022

A ship loaded with 71,000 tons of Ukrainian corn has left the Romanian port of Constanta.

- According to preliminary data from the Russian Grain Union, 3.1 million tons of grain will be exported from Russia in April (+33% compared to March), including 2.6 million tons of wheat (+36%), 135,000 tons of barley and 363,000 tons of corn. Since the beginning of the season, grain exports reach 37.6 million tons, including 33.2 million tons of wheat. During the month, the largest buyers of wheat were Turkey with 1 million tons and Iran with 520,000 tons.

- Over the week of May 6 - 12, the export tax on wheat from Russia will be 120.1 USD/ton (119.1 week earlier). The export tax on barley will be 73.5 USD/ton (73.3). The export tax on corn will be 58.3 USD/ton (54.9).

- In the first quarter of 2022, the import of fertilizers in Ukraine was 688,700 tons, including 230,000 tons from Belarus, 122,000 tons from Poland, 58,000 tons from Lithuania, 37,000 tons from Uzbekistan and 30,000 tons from Kazakhstan. In March, imports fell sharply and took place by rail from Poland, Romania and Bulgaria.

- A ship loaded with 71,000 tons of Ukrainian corn has left the Romanian port of Constanta (Comvex). This is the first ship loaded and departed with Ukrainian corn since the beginning of the war. Comvex operates the fastest terminal in Europe, carrying 70,000 tons of grain a day. Another 80,000 tons of Ukrainian grain are in the port of Constanta, and another 80,000 tons are on the way.

- According to data from the European Commission, over the period of 01.07.2021 - 24.04.2022, 21.6 million tons of wheat were exported from the EU (22.4 years earlier and 29.5 in 2019/20). In the last week, exports were 213,700 tons (245,200 a week earlier), including 90,800 tons from France, 55,000 tons from Lithuania and 24,500 tons from Romania. Since the beginning of the season, the largest buyers of European wheat have been Algeria with 3.18 million tons (4.9), Egypt with 2.3 million tons (0.82), China with 2.08 million tons (1.76), Nigeria with 1.6 million tons (1.9) and Morocco with 1.17 million tons (2.19).

- According to data from the Buenos Aires Grain Exchange, as of April 27, 2022, 46.4% of the soybean areas in Argentina have been harvested (+15.2% for the week). The forecast for a soybean production of 42 million tons remains unchanged. The first corn crop was harvested on 24.6% of the crops (+1.4%), and the forecast for the production remained unchanged at 49 million tons.

- Indonesia banned the export of refined and unrefined palm oil. It is specified that the ban will be lifted after saturating the domestic market with enough oils. 290,000 tons of palm oil destined for India have been blocked in Indonesian ports. Exports from Malaysia are growing, but they cannot completely replace Indonesian exports.

- The stocks of vegetable oils in Egypt are sufficient to meet domestic consumption for 6 months.

- According to the forecast of Oil World, over the period of April - September, soyoil production in the world's top 3 producers will reach 15.55 million tons (15.3 a year earlier and 14.19 in the first half of the season). Soyoil production in the United States will be 5.73 million tons (5.37 a year earlier), 4.65 million tons in Argentina (4.68) and 5.16 million tons in Brazil (5.25). Soyoil exports are projected at 5.12 million tons (4.47), including 3.76 million tons from Argentina (3.31), 1 million tons from Brazil (0.98) and 0.37 million tons from the United States (0.18).