Grain Highlights 24.01.2023

24 Jan, 2023
Grain Highlights 24.01.2023
Over the period January 1-22, 2.8 million tons of grain were exported from Russia (+170% compared to the previous year), including wheat exports of 2,473 million tons (1,253).

- According to Fedoil data, the processing of rapeseed in the EU reached 1.7 million tons in December 2022 (+3% compared to December 2021), which is the highest monthly indicator since August 2022. The processing of soybeans was 1.1 million tons (+32 % compared to November and -7% compared to December 2021), and the processing of sunseed reached 511,000 tons (+6% and no change).

- Chicago commodity funds were net sellers of 10,000 contracts of corn, 8,500 contracts of soybeans and 8,500 contracts of wheat yesterday.

- According to Conab data, as of 21.01.2023, 2% of the areas sown with soybeans were harvested in Brazil (6% a year earlier). In the state of Mato Grosso, 7% of the areas have been harvested (16%). Of the first corn crop, 6% of the areas have been harvested (+3% for the week and 8% a year earlier).

- According to traders, in the last 2-3 weeks, Chinese consumers bought 350-900 thousand tons of barley from France. The export will be carried out by March.

- On 23/01/2023, wheat prices in India reached another record high after the government delayed sales of production from state reserves.

- According to a forecast by RMI Analytics, the world barley production is expected to reach 147.5 million tons in 2023, which is below the level of 2022.