Grain Highlights 27.05.2022

FranceAgriMer reports that as of 23.05.2022, 69% of winter wheat crops are in good and excellent condition in France (73% a week earlier and 80% a year earlier).

- In the week starting on 01.06.2022, the export tax on Russian wheat will be 121.2 USD/ton (110.5 a week earlier). The export tax on barley remains unchanged at 76.5 USD/ton and the export tax on corn will be 73.9 USD/ton (76.5).

- The Ministry of Agriculture of Russia has confirmed its forecast for the grain production in the country in 2022 at the level of 130 million tons. Grain exports are projected at 50  million tons.

- Rusagrotrans forecasts grain exports from Russia in 2022/23 of 52 million tons, including wheat exports of 39 - 40 million tons. ProZerno forecasts total exports of 53.5 million tons, including wheat exports of 42.5 million tons. The grain production is expected to reach 131.5 million tons, including 85 million tons of wheat.

- In Kazakhstan, the sowing campaign of spring crops has entered a very active phase. It is planned to sow 23 million hectares with spring crops, including 15.8 million hectares with cereals and 2.9 million hectares with oilseeds and others.

- FranceAgriMer reports that as of 23.05.2022, 69% of winter wheat crops are in good and excellent condition in France (73% a week earlier and 80% a year earlier). 67% of the durum wheat crops (73% and 68%), 66% of winter barley crops (71% and 77%) and 61% of spring barley crops (69% and 85%) are also in good and excellent condition. 99% of the planned areas for corn have been sown and 91% of the crops are in good and excellent condition (90% last year).

- Turkey bought 175,000 tons of corn of any origin at a price of 394.8 - 406.4 USD/ton C&F and delivery in June.

- Egypt has lowered the moisture requirement for wheat to 14% from the current 13.5%. Most EU countries supply wheat with a moisture of 14% (Poland, the Baltic countries).

- In the 2022/23 season (March - February), wheat imports to Iran will reach over 7 million tons. Grain supplies from Russia are expected to be 5 million tons (not just wheat).