Grain Highlights 15.09.2022

Saudi Arabia has announced a tender for the purchase of 535,000 tons of wheat with delivery within 11/10/2022 – 02/25/2023.

- According to the forecast of APC - Inform, the total oilseed production in Ukraine will be 17 million tons in 2022, which is 25% less than in 2021. The sunseed production is expected to reach 10.9 million tons (-34%), which is the lowest level since 2015.

- In their September forecast, Strategie Grains analysts raised the wheat production estimate in EU in 2022/23 by 0.8 million tons to 131 million tons (137.5 in 2021/22). The soft wheat production estimate has been increased to 124.1 million tons, and the estimate for hard wheat remained unchanged at 6.9 million tons. The barley production is projected at 51 million tons (+1 and +0.8) and corn production is expected to reach 52.9 million tons (-2.5 and 70).

- According to the forecast of the National Association of Oil Cultures in Kazakhstan, the export of sunseed oil from the country will be 278,000 tons in 2022/23 (182,200 in 2021/22 and 95,300 in 2020/21).

- In August, 4.52 million tons of soybeans were processed in the United States (4.63 in front of July and 4.32 in August 2021).

- Yesterday, Chicago commodity funds were the net sellers of 9,000 contracts of maize and 9,500 contracts soy and net buyers of 4,000 contracts of wheat.

- The estimate for the rapeseed production in Canada was lowered to 19.1 million tons in 2022/23 (19.5 and +39% compared to 2021/22) by Statscan. The 2022/23 wheat production in Canada is projected to reach 34.7 million tons (34.6 and +57% compared to 2021/22).