Grain Highlights 07.03.2023

07 Mar, 2023
Grain Highlights 07.03.2023
As of 03/04/2023, 63.6% of the planned areas for the second corn crop have been sown in Brazil (74.8% a year earlier).

- Over the July-February period, the largest customer of Russian wheat is Turkey with 5.5 million tons (4.9 a year earlier), followed by Egypt with 5.3 million tons (3.8), Saudi Arabia with 1.9 million tons (0.9) and Iran with 1.8 million tons (4.8).

- According to data from the Russian government, the export tax on Russian grain will not be changed until the end of the season.

- As of March 2, 2023, 95% of the 2022 corn crop areas in Ukraine have been harvested. 26.9 million tons of grain have been harvested. At the same time, the 2023 crop is sown.

- As of 03/04/2023, 63.6% of the planned areas for the second corn crop have been sown in Brazil (74.8% a year earlier). Areas with the second corn crop are expected to reach 14.9 million hectares (14.8). Soybeans have been harvested on 43% of areas according to AgRural data (+10% for the week and 55% a year earlier).

- Over the January-February period, the import of soybeans in China reached 16.17 million tons (+16.1% compared to the previous year) and is a record achievement. During this period, soybean exports from Brazil were 6 million tons (-31%). Due to the slow harvesting campaign in Brazil, soybean imports to China are also expected to be weak in March.

- According to a forecast of the Indian Association of Vegetable Oil Producers, the supply of vegetable oils in India will be 14.37 million tons in 2022/23 (14.07 a year earlier), incl. palm oil 9.3 million tons (7.99), soyoil imports were 3.01 million tons (4.05), sunseed oil imports reached 2.01 million tons (1.93). Domestic oil production will reach 9.68 million tons (9.06). The export of meal will be 3.2 million tons (+70%). In 2023 (January - December) palm oil production in Malaysia is projected at18.95 million tons (18.45 in 2022), and in Indonesia it is expected at 49.78 million tons (48.30). In total, stocks in both countries will decrease by 2.3 million tons. For the production of biodiesel in Indonesia, 10.8 million tons of palm oil will be used (9.65).

- Algeria has announced a tender for the purchase of at least 50,000 tons of durum wheat of any origin and delivery in April.