Grain Highlights 15.08.2022

IKAR expects a grain production in Russia in 2022 of 145 million tons, which is a record for the country. The wheat production is projected to reach 95 million tons.

- In the second week of August, 109,700 tons of grain (only wheat) were exported from the Russian port of Novorossiysk. A week earlier, grain exports were 408,000 tons, including 230,700 tons of wheat.

- According to AHDB data, as of 09/08/2022, 63% of the areas with cereals were harvested in Great Britain (40% on average for the last 5 years). Winter wheat has been harvested on 65% of the areas with an expected production of 14.33 million tons. Winter barley was harvested on 100% of the areas, and spring barley has been harvested on 23% of the areas with an expected total production of 6.75 million tons. 95% of the winter rapeseed areas have been harvested, and a production of 1.1 million tons is expected.

- According to data from the Buenos Aires Grain Exchange, as of 08/10/2022, 90% of the corn areas in Argentina have been harvested. 44.24 million tons of corn were harvested (49 expected total harvest) with an average yield of 7 tons/hectare.

- The Ministry of Agriculture of China has lowered its forecast for soybean imports in the country in 2021/22 to 91.02 million tons (-1.98 compared to the previous estimate). The decline is due to unprofitable pig production. The soybean production in 2022/23 is projected to reach 19.48 million tons. Corn production is expected at 272.56 million tons (272.55 in 2021/22), and corn imports are estimated at 18 million tons (20 last season). The consumption of corn for feed in 2022/23 will reach 290.51 million tons (287.7).

- Australia exported 480,900 tons of canola in June, down 11% from May, including 120,500 tons for Japan, 82,900 tons for the Netherlands, 66,000 tons for the UK and 65,000 tons for Belgium. During the first 9 months of the season, exports reached 4.64 million tons, including 1.15 million tons for Germany and 920,800 tons for Belgium. Lachstock Consulting expects exports of 400,000 tons in July and 270,000 tons in August.