Grain Highlights 08.06.2022

From 01.07.2022 the export tax on Russian sunseed oil will be 560.1 USD/ton (525 in June).

- In April, the production of unrefined vegetable oils in Russia reached 738,000 tons, which is 6% more than in March and +33% compared to April 2021.

- From the beginning of the season to 08.06.2022, 47.281 million tons of grain were exported from Ukraine. Over the period of June 1 - 8, only 252,000 tons were exported from Ukraine. Wheat exports reached 18.587 million tons (17,000), barley exports were 5.688 million tons (9,000) and corn exports totaled 22,538 million tons (225,000).

- According to Conab, as of 04.06.2022, the harvesting campaign of the second corn crop in Brazil has been completed on 3% of the areas (0.6% a week earlier). 87% of the areas with the first corn crop have been harvested (+5% and 85% a year earlier). The forecast for the total corn production in 2021/22 remains at a record level of 114.6 million tons.

- According to ABARE's forecast, the wheat production in Australia will reach 30.3 million tons in 2022/23 (+6 compared to 2021/22). The total production of winter crops will reach 50.9 million tons, which is the fourth highest result in history. The barley production is expected at 10.9 million tons (-2.8) and the rapeseed production is estimated at 5.6 million tons (-0.9).

- After a three-week suspension of palm oil exports from Indonesia, the authorities have issued an order to resume it.

- According to the forecast of the Ministry of Agriculture of Tunisia, the grain production in the country will reach 1.8 million tons in 2022/23, which is 10% more than the previous year. The durum wheat production is expected at 1.1 million tons, soft wheat production is estimated at 117,000 tons and barley production is projected at 520,000 tons. In the new season, wheat imports in the country will be 1.1 million tons.