Grain Highlights 06.06.2022

According to analysts, the production of winter cereals in Spain will decrease by 21% to 15.5 million tons from 21 million tons in 2021.

- In the week starting from 08.06.2022, the export tax on Russian wheat will be 129.2 USD/ton (121.2 a week earlier). The export tax on barley remains unchanged at 76.5 USD/ton, and the export tax on corn will be 78.7 USD/ton (73.9).

- In May, 747,900 tons of grain were exported from the Russian port of Novorossiysk, which is about 50% less than in April. Wheat exports reached 581,300 tons (1,169 million tons) and corn exports were 150,600 tons (86,300).

- As of June 2, 2022, 4,574 million hectares of sunseed have been sown in Ukraine (70.3% of the areas a year earlier).

- Over the period of 01.07.2021 - 05.06.2022, 47.177 million tons of grain were exported from Ukraine. Over the period of June 1 - 5, grain exports were 148,000 tons. 18,578 million tons of wheat (8,000), 5,686 million tons of barley (7,000) and 22,445 million tons of corn (132,000) were exported.

- According to analysts, the production of winter cereals in Spain will decrease by 21% to 15.5 million tons from 21 million tons in 2021. The soft wheat production is expected at 5.3 million tons, durum wheat production will be 600.00 tons and barley production is estimated at 7.6 million tons.

- As of 30.05.2022, 67% of the crops in winter wheat in France are in good and excellent condition (69% a week earlier). 91% of the corn crops are in good and excellent condition.

- According to data from Safras & Mercado, as of 03.06.2022, Brazilian farmers have sold 65.9% of their 2021/22 soybean production (75.6% a year ago). 80.61 million tons of soybeans were sold out of the expected 122.3 million tons. 13% of the 2022/23 production was also sold (19.21 million tons out of the projected 144.7 million tons).

- According to data from the Buenos Aires Grain Exchange, as of 31.05.2022, 14.69 million hectares of soybeans or 94% of the areas have been harvested in Argentina. 41.68 million tons of soybeans were harvested at an average yield of 2.84 tons/hectare. 32% of the corn areas were harvested and 15.83 million tons of corn were harvested at an average yield of 6.86 tons/hectare. The sowing campaign of wheat was carried out on 14% of the planned areas (+9% for the week).

- Rapeseed areas in Australia will increase by 21% to 3.63 million hectares, and barley areas will decrease by 6.7% to 4.09 million hectares. The change is related to China's policy towards Australian production.

- In April, 2.63 million tons of wheat were exported from Australia, which is 3% more than in March - 2.56 million tons. The main customers were China with 761,270 tons, Vietnam with 339,900 tons and the Philippines with 333,400 tons.

- Authorities in Egypt have bought 3.5 million tons of wheat from the new crop from local farmers. The harvesting campaign will end in August.

- Egypt's state-owned company GACS has announced a tender for the purchase of 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery in August.

- Saudi Arabia is looking to buy 240,000 tons of wheat.