Grain Highlights 05.07.2022

According to a Rusagrotrans forecast, the wheat production in Russia will reach a record 90 million tons in 2022 (+0.7 compared to the previous estimate).

- According to a Rusagrotrans forecast, the wheat production in Russia will reach a record 90 million tons in 2022 (+0.7 compared to the previous estimate). The total grain production will be 138.6 million tons, including barley production of 20.3 million tons and corn production of 15 million tons.

- In June, 2.17 million tons of grain and oil crops were exported from Ukraine (+25% compared to May). Wheat exports reached 138,000 tons (43,500 in May and 662,000 in June 2021), barley exports were 26,000 tons (11,000 and 73,000) and corn exports reached 1.01 million tons (+54,000 and 1,700,000). Sunseed exports reached a new record of 540,000 tons (+60% compared to June 2021). In 2020/21, sunseed exports totaled 189,600 tons.

- The European Commission has lowered its forecast for the soft wheat production in the EU in 2022/23 by 5.3 million tons compared to the previous estimate to 125 million tons (130.1 million tons in 2021/22). Domestic consumption will reach 92.9 million tons (-0.4 and 94.7), exports are projected at 38 million tons (38 and +8), and ending stocks are expected at 13.2 million tons (-4 compared to 2021/22). The corn production will be 71.7 million tons (-0.8 and 72.7), and the barley production will reach 52.2 million tons (-0.1 and 52). Ending corn stocks will be 20.9 million tons (21.5), and ending barley stocks are expected at 5 million tons (+0.9).

- According to Conab data, as of 07/02/2022, 28% of the areas with the second corn crop have been harvested in Brazil (+8% for the week and 15% in 2021). 95% of the areas with the first corn crop have been harvested (+2% for the week). 71% of the planned areas (+7% and 87%) were sown with wheat.

- Turkey has bought 18,000 tons of sunseed oil on a tender with July-August delivery and at a price of 1,489.9 USD/ton EXW Iskenderun and Mersin ports.

- Egypt's state-owned company GASC has announced a tender for the purchase of sunseed and soybean oils from the domestic market with delivery in August.