Grain Highlights 11.05.2022

Given the dry weather in France, analysts expect a decline in wheat production of 30 - 40% compared to 2021.

- Last week, 117,100 tons of grain were exported from the Russian port of Novorossiysk, which is 63% less than the previous week. Exports of wheat are 53,000 tons and corn exports reached 64,000 tons. The main customers for wheat were Tunisia, Egypt and Sudan and the main customers for corn were Turkey and Egypt.

- Over the period of 01.07.2021 - 11.05.2022, 46.168 million tons of grain were exported from Ukraine, including 18.532 million tons of wheat, 5.676 million tons of barley and 21.495 million tons of corn. Over the period of May 1 - 11, exports reached 299,000 tons, including 6,000 tons of wheat, 8,000 tons of barley and 284,000 tons of corn.

- In April, 1.09 million tons of grain were exported from Ukraine, which is five times more than in March.

- As of 05.05.2022, 7.1 million hectares of the planned 14.4 million hectares have been sown in Ukraine (16.9 in 2021). Sowing lags by 20 - 30% comapred to the previous year.

- According to data from the European Commission, 238,500 tons of wheat were exported from the EU last week (473,060 a week earlier), including 58,900 tons from Poland, 47,900 tons from Lithuania, 47,700 tons from Germany and 31,700 tons from France. Since the beginning of the season, exports reach 22.77 million tons (-3%). The largest customers are Algeria with 3.46 million tons (5.17), Nigeria with 1.74 million tons (2.15), Morocco with 1.45 million tons (2.22), Egypt with 2.36 million tonnes (1.01) and China with 2.13 million tons (1.76) .

- The authorities in Serbia have decided to lift the ban on flour exports. The ban on the export of corn and sunseed oil remains.

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

- The authorities in Malaysia will reduce the export tax on palm oil from 8% to 4 - 6%, which will take effect in June.

- In April, 1.4 million tons of wheat were exported from India, which is a record result. Export prices were 295 - 340 USD/ton FOB, and the largest customers were Turkey, Israel, Indonesia, Mozambique and Tanzania.

- Bangladesh is looking to buy 50,000 tons of wheat of any origin.

- In the season April 2022 - March 2023, wheat imports to Iran will be over 7 million tons. Last season, imports reached a record 8 million tons.

- In 2022, the grain production in Tunisia will increase by 30 - 40% compared to 2021. In 2021, the wheat production was 1.6 million tons. Purchases from local farmers are expected to reach 1.185 million tons and imports are projected at 2.68 million tons.