Grain Highlights 21.09.2022

According to Anec's forecast, the export of corn from Brazil in September will be 7.618 million tons (-0.2 compared to the previous estimate and 6.9 million tons in August and 2.5 million tons in September 2021).

- According to data from APC - Inform, in the first 11 months of 2021/22, 24.9 million tons of corn were exported from Ukraine (+5% compared to the previous year). The largest customers were the EU with 10.9 million tons (+51% compared to the previous year) and China with 6 million tons (-30%). The third place goes to Turkey with 1.6 million tons (639,500 tons). For 2022/23, the export forecasts are within 14.5 - 24.3 million tons. In the first 11 months of 2021/22, soybean exports reached 1.4 million tons, with the EU and Turkey being the largest customers.

- In the first 12 weeks of the season, sunseed oil exports from Ukraine to the EU reached 359,000 tons (315,000 a year earlier), rapeseed oil exports totaled 98,000 tons (103,000) and soyoil exports reach 81,000 tons (145,000). Ukraine has a share of 90% of the supply of sunseed oil to the EU.

- In the first 12 weeks of the season, EU imports of soft wheat reached 900,000 tons (545,000 a year earlier), durum wheat imports reached 60,000 tons (345,000), corn imports were 5.90 million tons (3.29) and barley 414,000 imports totaled tons (239,000). The main supplier of soft wheat is Ukraine with a share of 37%. The main supplier of durum wheat was Canada with 58% of the total imported quantity, barley - Great Britain with 68% and corn - Brazil with 57%.

- According to the MARS forecast, the yield of spring cereals in the EU will be 6.39 tons/hectare in 2022/23 (6.63 in the previous estimate and -19% compared to last year and -19% compared to the five-year average level). Sunseed yield will be 2.4 tons/hectare (-2%, -15%, -17%).

- The EU and Indonesia are expected to sign a free trade agreement in the next two years despite disputes over palm oil and nickel. In 2021, the trade turnover between the partners will reach 24.7 billion USD.

- Yesterday, Chicago commodity funds were net buyers of 10,000 contracts of corn, 6,000 contracts of soybeans and 20,000 contracts of wheat.

- In August, the import of vegetable oils in China was 707,000 tons (661,000 in July), including palm oil imports of 522,000 tons (450,000), which is the highest for the last 8 months and sunseed oil imports of 26,000 tons (7,000). Oilmeal imports in August were 661,000 tons (487,000), including 125,000 tons of sunseed meal (53,000) and 216,000 tons of rapeseed meal (169,000).

- In 2022/23, India will increase imports of palm oil by 9% to 8.4 million tons and sunseed oil exports by 15% to 2.5 million tons.

- According to Anec's forecast, the export of corn from Brazil in September will be 7.618 million tons (-0.2 compared to the previous estimate and 6.9 million tons in August and 2.5 million tons in September 2021). For the whole of 2022, exports will reach over 40 million tons.

- According to AgRural data, as of September 19, 2022, soybean sowing has begun in Brazil, with 1% of the planned areas already sown, which will reach a total of 42.7 million hectares.

- Jordan has again canceled a tender for the purchase of 120,000 tons of milling wheat of any origin.