Grain Highlights 18.07.2022

As of 14.07.2022, the average wheat yield in Russia reached 4.22 tons/hectare (3.41 a year earlier) and the average barley yield was 4.57 tons/hectare (3.93).

- Over the period of July 1-15, wheat exports from Russia reached 1.245 million tons (637,000 a year earlier). Barley exports were 84,000 tons (160,000) and corn exports totaled 54,600 tons (81,000).

- In the 2021/22 season, the largest buyer of Russian grain was Turkey with 9.013 million tons, followed by Iran with 7.888 million tons, Egypt with 4.919 million tons and Saudi Arabia with 1.344 million tons. In total, during the season, the export from Russia was 40.3 million tons, including 31.5 million tons of wheat (excluding exports to the Eurasian Union). For 2022/23, exports are expected to be 42.5 million tons and the grain production is estimated at 136.2 million tons, including wheat production of 88.1 million tons.

- As of 11/07/2022 in France, 50% of the wheat areas have been harvested (+36% for the week and 3% a year earlier). The harvesting campaign of durum wheat has been carried out on 82% of the areas (+32% and 37%).

- According to a forecast by Safras&Mercado, the soybean production in Brazil will reach 151.5 million tons in 2022/23 (125.88 in 2021/22). Soybean areas will grow by 2.6% to 42.88 million hectares, and average soybean yield is projected at 3.55 tons/hectare (3.03).

- The Government of Indonesia has canceled the export tax on palm oil until 31.08.2022 in order to stimulate exports and reduce domestic stocks. It is expected that from 01.09.2022 the tax will be within 55 - 240 USD/ton depending on the price of the product.

- In 2021/22, Bangladesh's wheat imports are down 25% compared to 2020/21 as consumption has shifted to cheaper rice.

- Egypt's state-owned company GASC has announced a tender for the purchase of wheat with suppliers from Australia, Argentina, Brazil, Canada or the United States.