Grain Highlights 15.12.2022

15 Dec, 2022
Grain Highlights 15.12.2022
Algeria has bought 520,000 tons of wheat at prices of 348 – 349 USD/ton C&F and delivery in February 2023. Most likely it will come from the EU.

- According to data from APC - Inform, during the first 5 months of the season, wheat exports from Ukraine reached 6.8 million tons (-54% compared to the previous year), including 3.6 million tons through the grain corridor. The biggest buyers were Turkey with 1.4 million tons, Romania with 1.2 million tons and Spain with 808,000 tons. A year earlier, the biggest buyers were Egypt and Indonesia. The forecast for the total export during the season is broadly ranging from 8.1 to 13.8 million tons.

- According to an assessment by the Ministry of Agriculture of Great Britain, in the current season, the wheat production in the country is 15.5 million tons, which is 11% more than the previous year. Rapeseed production is projected at 1.4 million tons (+39%).

- Yesterday Chicago commodity funds were net sellers of 2,500 contracts of corn and 1,000 contracts of wheat and net buyers of 2,000 contracts of soybeans.

- The Rosario Grain Exchange lowered its forecast for the 2022/23 wheat production in Argentina to 11.5 million tons (11.8 in the previous estimate). The 2022/23 soybean production estimate is unchanged at 48 million tons, and the estimate for the corn production is also unchanged at 56 million tons.

- Farmers in Argentina have sold 76% of the 2021/22 soybean production, slightly below last year's level. The 2021/22 production was 44 million tons. During the week of December 1-7, 812,000 tons of soybeans were sold thanks to the active soy dollar. The sold wheat crop 2022/23 is 6.2 million tons.

- In 2022, the soybean production in China reaches 20.7 million tons (+24% compared to 2021). For the first time in history, the soybean production exceeded 20 million tons. The corn production reached 277.2 million tons (+2%), and the wheat production increased by 0.6%.

- In October, palm oil exports from Indonesia will be 3.65 million tons (3.21 in October 2021) according to GAPKI forecast. During the month, palm oil production was 5 million tons, and palm oil stocks were 3.38 million tons (4.03 in September).

- Iraq has announced a tender for the purchase of 50,000 bushels of milling wheat from the United States, Australia and Canada.

- Tunisia is looking to buy 100,000 tons of durum wheat of any origin and delivery within January-February.