Grain Highlights 11.07.2022

According to a forecast from ProZerno, the grain production in Russia will reach a record 136.2 million tons in 2022/23, including 88.1 million tons of wheat.

- Over the week of July 4 - 10, 124,000 tons of grain (entirely wheat) were exported from the Russian port of Novorossiysk. 70,000 tons of wheat went to Egypt, 28,000 tons to Turkey and 26,000 tons to Libya. A week earlier, the export was 69,000 tons of grain, including 42,000 tons of barley and 27,000 tons of wheat.

- According to a forecast from ProZerno, the grain production in Russia will reach a record 136.2 million tons in 2022/23, including 88.1 million tons of wheat. In 2017, the grain production was 135.5 million tons, including 86 million tons of wheat. The sunseed production is estimated at 15.7 million tons (15.56), soybean production is projected at 5.4 million tons (4.8) and rapeseed production is expected at 3.8 million tons (2.8). In the new season, wheat exports will be 40 million tons (33).

- According to a forecast of the Ministry of Agriculture of Ukraine, grain exports from the country will decrease by 30% in 2022/23. In 2021/22, exports reached 48.508 million tons (+3.79 more than 2020/21).

- According to FranceAgriMer data, as of 07/04/2022, 14% of wheat areas were harvested in France (+9% for the week and 1% a year earlier). 50% of the durum wheat areas (+24% and 15%) have been harvested. 63% of soft wheat crops are in good and excellent condition (64% a week earlier and 79% a year earlier). 56% of the durum wheat crops are in good and excellent condition (56% and 66%). 83% of the winter barley areas (+40% and 9%) have been harvested, as well as 14% of the spring barley areas (+9% and 1%).

- According to an estimate of the European Commission in 2021/22 (01.07 – 30.06) the import of rapeseed in the EU was 5.51 million tons (6.5 in 2020/21). 2.9 million tons of rapeseed were delivered from Australia (53% share), 1.66 million tons from Ukraine, and 611,200 tons from Canada. The import of soybeans was 14.53 million tons (-6%), and sunseed imports were 1.06 million tons (+22%). 487,300 tons of sunseed were imported from Ukraine, 379,400 tons from Moldova, 63,200 tons from Argentina, 39,300 tons from China, and 33,600 tons from Turkey.

- According to data from the Buenos Aires Grain Exchange, due to the drought in Argentina, the harvesting campaign of corn is progressing quickly. As of 07/06/2022, 3.77 million hectares have been harvested (53% of the planned areas and +5.5% for the week). 26.56 million tons of grain were harvested at an average yield of 7.05 tons/hectare. The forecast for the production reaches 49 million tons.

- The authorities in Indonesia will introduce the use of a mandate for B35 biodiesel from 20.07.2022. Until now the consumption was B30. The change will create an additional demand of 727,800 kiloliters of fuel for this year to a total of 10.88 million kiloliters. Tests of B40 fuel begin, which will increase annual oil consumption by another 2.5 million tons.

- FAO forecasts a world's wheat production of 770.8 million tons in 2022/23 (778.3 in 2021/22). The total grain production is projected at 2,792 million tons (+7 and -0.6%) and grain consumption is expected at 2,797 million tons (+9.2 and -1.7). World's ending grain stocks are estimated at 854 million tons (+7.6 and -5).