Grain Highlights 17.10.2022

17 Oct, 2022
Grain Highlights 17.10.2022
According to the forecast of the Ministry of Agriculture of Ukraine, 4 million hectares will be sown with winter wheat in the country in 2022(5 a year earlier), and 0.5 million hectares (0.8) with barley.

- During the week of October 10-16, 244,400 tons of wheat were exported from the Russian port of Novorossiysk, including 68,300 tons for Sudan, 43,600 tons for Iran and 28,200 tons for Egypt. A week earlier, wheat exports were 388,600 tons.

- According to SovEcon's forecast, 4.4 million tons of wheat will be exported from Russia in October, which for the first time since the beginning of the season will be above the indicator of 2021/22 (3.3 million tons) and above the average for October of 3.9 million tons.

- From the beginning of the season to 17.10.2022, 10,812 million tons of grain were exported from Ukraine (16,536 a year earlier), including 2.119 million tons in October (2,172). 3.998 million tons of wheat (10.737), 896,000 tons of barley (4.022) and 5.879 million tons of corn (1.54) were exported.

- In Ukraine, 996,000 tons of corn were harvested from 5% of the corn areas with an average yield of 4.37 tons/hectare. Sunseed was harvested on 46% of the areas, and 4.5 million tons were harvested.

- On Friday, Chicago commodity funds were net sellers of 5,500 contracts of corn, 3,000 contracts of soybeans and 11,500 contracts of wheat.

- According to an estimate by Oil World, soybean processing in South America decreased by 1.3 million tonsin September (-9%) compared to the previous year. In Argentina, the indicator reached 2.8 - 2.9 million tons (3.7) and in Brazil it was 4.2 million tons (4.3 in August and 3.9 a year earlier). Soybean processing in the United States reached 4.62 million tons in September (4.76 and 4.47). Processing totaled 11.82 million tons for the United States, Brazil, Argentina, Paraguay and Uruguay (12.53 and 12.37). The export of soybeans during the month reached 7.67 million tons (10.14 and 8.4).

- According to data from Oil World, in the current year (January - September), 24.67 million tons of corn were exported from Brazil (12.83 a year earlier). For the period of July - September, corn exports were 18.37 million tons or 75% of the total amount. The largest customers over the period of July - September were the EU with 4.54 million tons (2.51), Iran with 3.11 million tons (1.6), Japan with 1.96 million tons (1.01), Egypt with 1.4 million tons (0.74) and Colombia with 1.35 million .tons (0.51). Over the period of January - September, the largest customers were the EU with 5.22 million tons, Iran with 4.68 million tons, Egypt with 2.94 million tons, Japan with 2.28 million tons and Colombia with 1.51 million tons.

- According to data from the Ministry of Agriculture of Argentina, as of 05.10.2022, Argentine farmers have sold 69.8% of the 2021/22 soybean production (68.4% a year earlier). Over the week of 29.09 – 05.10.2022, sales were 375,000 tons (1.7 million tons a week earlier). Corn sales reach 68.6% of the 2021/22 production (64.4%).

- Asian consumers have bought a significant number of Australian wheat cargoes given the complications surrounding Ukraine's grain corridor. South Korea has bought at least 4 cargoes of feed wheat. The Philippines Import Group has bought about 50,000 tons of feed wheat with January-February delivery at 340 USD/ton C&F. South Korea's Major Feedmill Group bought 65,000 tons of feed wheat with February-March delivery and at a price of 354.49 USD/ton.