Grain Highlights 08.07.2022

In 2022/23, sunseed production in Argentina will reach 4.6 million tons (3.42 in 2021/22), which will be the highest level for the last 10 years.

- In June, 942,000 tons of wheat were exported from Russia (-9% compared to May). The main buyers were Turkey with 467,000 tons and Egypt with 118,000 tons. Corn exports were 254,000 tons, and barley exports were 60,000 tons.

- Over the period July 1-8, 318,000 tons of grain were exported from Ukraine, including 52,000 tons of wheat, 15,000 tons of barley and 249,000 tons of corn.

- According to data from the European Commission, 27.46 million tons of soft wheat were exported from the EU in 2021/22 (25.7 in 2021/22). Exports reached 8.27 million tons from France, 6.38 million tons from Romania, 3.88 million tons from Germany, 3.27 million tons from Bulgaria, 1.71 million tons from Lithuania, 1.5 million tons from Latvia and 1.4 million tons from Poland. The biggest customers were Algeria with 4.89 million tons (5.82), Egypt with 2.72 million tons (1.07), Nigeria with 2.23 million tons (2.35), China with 2.12 million tons (1 .76) and Morocco with 1.93 million tons (2.22). The export of durum wheat was 976,000 tons (476,000), including 332,000 tons from Italy and 252,000 tons from Spain. Corn exports reached 5.99 million tons (2.83), including 4.29 million tons from Romania . The biggest buyers were Iran with 1.2 million tons, Egypt with 966,000 tons, Great Britain with 775,000 tons, South Korea with 739,000 tons and Turkey with 442,000 tons.

- According to AHDB data, wheat areas in Great Britain increased by 1% compared to the previous year to 1.8 million hectares. Barley areas fell by 12% to 656,000 hectares, the lowest level since 2014. Rapeseed areas will reach 336,000 hectares in the new season (+9%), and winter barley areas will be 447,000 hectares (+10%).

- According to Conab's forecast, the wheat production in Brazil will be 9 million tons in 2022/23. Wheat areas will rise to a 32-year high, with 65% of the plan already committed. Wheat imports will reach 6.5 million tons (6), and wheat exports are projected at 2.5 million tons (3.2). The harvesting campaign starts in October.

- In 2022/23, sunseed production in Argentina will reach 4.6 million tons (3.42 in 2021/22), which will be the highest level for the last 10 years. Sunseed oil production will reach a record 1.8 million tons, and sunseed oil exports will be 1 million tons. In May, sunseed oil exports reached a record 153,300 tons (110,000 in May 2021 and 98,000 in May 2020). Against the background of high production, FOB oil prices in Argentine ports will fall to 1,500 USD/ton (2,400 at the beginning of the war in Ukraine).

- According to data from the Australian Bureau of Statistics, 578,800 tons of canola were exported from Australia in May (575,600 in April). The biggest customers were Germany with 295,280 tons, France with 92,800 tons and Bangladesh with 65,600 tons.

- Indonesia has the opportunity to highlight the export duty on palm oil in order to increase exports. It is now USD 200/ton against the previous USD 375/ton. From August, it will be raised to 240 USD/ton.

- Pakistan bought 500,000 tons of wheat at USD 439.40 – 485.00/ton C&F.