Grain Highlights 07.06.2022

07 Jun, 2022
Grain Highlights 07.06.2022
The Odessa region of Ukraine is affected by severe drought. If it does not rain soon, the yields will decrease to 2 - 2.5 tons/hectare compared to over 4 tons/hectare in 2021/22.

- In May, 1.26 million tons of wheat were exported from Russia (675,000 in May 2021). Total grain exports during the month reached 1,808 million tons, including barley exports of 144,000 tons (695,000) and corn exports of 404,000 tons (640,000). Over the period of 01.07.2021 - 05.06.2022, grain exports totaled 41.7 million tons, including wheat exports of 35.04 million tons, barley exports of 3.42 million tons and corn exports of 3.232 million tons.

- In May, 1.743 million tons of grain were exported from Ukraine, which is 180% more than in April. Wheat exports were 43,500 tons (857,800 in May 2021), barley exports were 11,600 tons (11,800), corn exports were 959,350 tons (601,000 in April and 2,245 million tons in May 2021). Sunseed exports were 341,800 tons (104,000 and 189,600), sunseed oil reached 202,650 tons (+56% and 501,800), and sunseed meal exports were 101,000 tons (+260% and 440,000).

- Analysts from the European Commission have raised their forecast for the soft wheat production in the EU in 2022/23 by 0.3 million tons to 130.4 million tons (130.1 million tons in 2021/22). Wheat exports decreased by 2 million tons to 38 million tons (31 in 2021/22, which is -1 below the previous estimate). The corn production is projected at 72.5 million tons (73.4 in May) and corn imports are estimated at 13 million tons (+4). In 2021/22, corn imports will reach 16 million tons (+2). The EU's rapeseed production is expected to reach 18.1 million tons (-0.2) and the sunseed production is estimated at 10.9 million tons (-0.3).

- In the USA, 5% of the areas with winter wheat have been harvested (+3% compared to 2021). 30% of the crops (50%) are in good and excellent condition. As of 05.06.2022, 94% of the planned areas have been sown with corn and 73% of the crops (72%) are in good and excellent condition.

- As of 06.06.2022, 55% of the areas with winter wheat have been harvested in China.

- Australian analysts expect the wheat production in Australia in 2022/23 to be over 30 million tons compared to 36 million tons in 2021/22.

- Turkey has announced an agreement with Ukraine to buy grain. Ankara will buy it at a discount of over 25%.