Grain Highlights 26.05.2022

Refinitiv has lowered its forecast for the wheat production in the United States in 2022/23 by 1.7 million tons to 46 million tons (44.8 in 2021/22).

- Refinitiv has lowered its forecast for the wheat production in the United States in 2022/23 by 1.7 million tons to 46 million tons (44.8 in 2021/22). The winter wheat production will be 33.5 million tons (-0.7 and -9% compared to 2021/22), and the spring wheat production is expected at 11.1 million tons (-0.9). Durum wheat production is estimated at 1.4 million tons (-0.1).

- The authorities in Turkey are negotiating with Russia and Ukraine for a corridor for the export of Ukrainian grain through the Bosphorus. Russia is seeking to lift sanctions in exchange for a corridor, but the United States disagrees.

- In April, 13,625 tons of sunseed oil were delivered to China (34,498 in March). Over the period of January - April, sunseed oil imports reached 219,599 tons (462,817). In April, the main suppliers were Kazakhstan with 7,059 tons, Russia with 3,309 tons and Ukraine with 3,190 tons.

- Traders expect India to significantly reduce palm oil imports, given that the authorities have allowed duty-free imports of soyoil. Over the period of November - October, imports were 6.7 million tons (-19% compared to the previous season), which is the lowest level since 2010/11. In the first half of the current season, deliveries totaled 3.23 million tons (-15%).

- According to the forecast of the National Grain Council of Turkey, the wheat production in the country will reach 20 million tons in 2022/23 (20.5 in the forecast from March and +17.6% compared to 2021/22).