Grain Highlights 14.10.2022

According to Rusagrotrans data, 1.7 million tons of wheat were exported from Russia over the period of October 1-13.

- According to Rusagrotrans data, 1.7 million tons of wheat were exported from Russia over the period of October 1-13. For the whole month, the export is projected within 4.2 - 4.3 million tons (4.4 - 4.5 in the previous forecast).

- During the week starting on 19.10.2022, the export tax on Russian wheat will be 2,934.3 rubles/ton (1,926.8 a week earlier). The export tax on barley will be 2,479.9 rubles/ton (+52.3%) and the export tax on corn will be 2,410.1 rubles/ton (-22.6% ).

- As of 14.10.2022, 64% of the areas with grain crops were harvested in Ukraine, and 27.1 million tons of grain were harvested. Harvested wheat is 19.2 million tons and 5.6 million tons of barley were harvested. Corn was harvested on 5% of the areas and the harvested amount reaches 996,000 tons. 46% of the sunseed areas were harvested, and 4.5 million tons of sunseed were harvested.

- From the beginning of the season to 14.10.2022, 10,535 million tons of grain were exported from Ukraine (15,945 a year earlier), including 1,842 million tons in November (1,581). Exported wheat was 3.842 million tons (801,000), barley exports reached 895,000 tons (121,000) and corn exports totaled 5.76 million tons (916,000).

- On Thursday, Chicago commodity funds were net buyers of 2,500 contracts of corn, 1,000 contracts of soybeans and 4,500 contracts of wheat.

- The Rosario Grain Exchange expects a 2022/23 wheat production in Argentina of 16 million tons (-0.5 vs. the previous estimate), which is the lowest level in the last 7 years. The Grain Exchange in Buenos Aires predicts a production of 16.5 million tons (-1).

- According to SEA data, palm oil imports to India in September increased by 18% compared to August to 1.17 million tons. Deliveries of soyoil during the month were 261,800 tons (+7%), and sunseed oil imports reached 159,800 tons (+18%).

- On 10/10/2022, Iraq canceled a tender for the purchase of at least 50,000 tons of milling wheat. The lowest price offered is for wheat from Ukraine – 386 USD/ton C&F.

- According to data from Oil World, the global export of soymeal was 4.62 million tons in September compared to 4.57 million tons in August, which is a total of 0.9 million tons less than the previous year. Argentina exported 1.75 million tons of soymeal in September and 1.83 million tons in August (2.67 in September 2021). In September, 1.92 million tons of soymmeal (1.3) were exported from Brazil. Throughout 2021/22, world exports were 61.07 million tons (59.3), including 26.7 million tons from Argentina (28.4), 20.3 million tons from Brazil (16.6), 12.33 million tons from the USA (12.41) and 1.74 million tons from Paraguay (1.89).