Grain Highlights 15.11.2022

The USA, EU and Great Britain have limited sanctions on Russian entities in order to ease the export of agricultural products and fertilizers. The relief will affect banks, insurers, carriers and others.

- IKAR is projecting the sunseed production in Russia in 2022 at the level of 16.35 million tons (-0.6 compared to the previous estimate and 15.65 a year earlier). Rapeseed production is estimated at 4.51 million tons (4.45 in the previous estimate).

- The USA, EU and Great Britain have limited sanctions on Russian entities in order to ease the export of agricultural products and fertilizers. The relief will affect banks, insurers, carriers and others.

- As of 14.11.2022, 4.4 million hectares or 92% of the planned areas have been sown with winter cereals in Ukraine. Before the war, these areas were about 70 million hectares.

- During the past week, the condition of winter wheat improved in the United States and 32% of the crops were in good and excellent condition (30% a week earlier and 46% a year earlier). 96% of the planned areas have been sown.

- According to AgRural data, as of 11/10/2022, 69% of the planned areas were sown with soybeans in Brazil (+12% for the week and 78% a year earlier).The first corn crop was sown on 70% of the areas (+7% and 85%).

- According to data from the Australian Bureau of Statistics, Australia exported 5.4 million tons of rapeseed in 2021/22, which is a new record for the country (previous highest indicator was 3.512 million tons in 2012/13). In September, the largest customers were Belgium with 63,350 tons, UAE with 61,408 tons and Japan with 35,434 tons. Total exports for the month were 176,695 tons (151,556 in August).

- In 2021/22, India's palm oil imports fell by 4.8%, but soybean imports grew by 45.3% to a record level. Palm oil deliveries were 7.9 million tons (8.3).

- As of November 1, 2022, wheat stocks in India were 21 million tons (42 million tons as of November 1, 2021).