Grain Highlights 28.03.2023

28 Mar, 2023
Grain Highlights 28.03.2023
The Union of Grain Exporters of Russia set a minimum export price for wheat with 12.5% protein of 275 USD/ton FOB, below which it is not appropriate to export.

- From the beginning of the season to 27.03.2023, 36,922 million tons of grain were exported from Ukraine (44,849 a year earlier), including 4,625 million tons in March (1,344). 12,623 million tons of wheat (18,399 a year earlier), 2,267 million tons of barley (5,641) and 21,714 million tons of corn (20,348) were exported.

- Romania and Poland have turned to the European Commission with a proposal to take measures to stop the sale of Ukrainian grain on their territories at reduced prices.

- According to USDA data, now 51% of the wheat crops are experiencing a moisture deficit in the United States (53% a week earlier). In Texas, 18% of crops are in good and excellent condition (23% a week earlier), and 48% (44%) are in poor and very poor condition. 28% of wheat crops in Colorado are in good and excellent condition (36%), 19% in Kansas (19%), 51% in Arkansas (60%) and 22% in Nebraska (19%). Corn in Texas has been sown on 52% of the planned areas (45% average over the past five years).

- According to Statistic Canada data, canola processing in Canada reached 812,000 tons in February (875,300 in January). Canola oil production was 336,900 tons (-7%) and canola meal production reached 481,900 tons (-8%).

- Over the week of March 10-16, China purchased 2.234 million tons of corn from the United States, which is the third highest purchase in history. After this week, another 832,000 tons of corn were purchased. Over the September-March period, US soybean sales to China totalled 7,637 million tons (12,123 a year earlier).

- Jordan has purchased 60,000 tons of Russian wheat (planned 120,000 tons) at a price of 308.5 USD/ton C&F and delivery within 16.09 – 31.10.2023.

- According to Oil World, global soybean processing will be 314.3 million tons in 2022/23 (-3.5 compared to the previous estimate and -5 compared to 2021/22), which is the lowest level for the last three years. Processing will reach 31 million tons in Argentina (35.8 in the previous season), 92.8 million tons in China (92.04), 13.75 million tons in the EU (15.28), 60.4 million tons in USA (59.98), 54 million tons in Brazil (+ 3.1), including the record 4.9 million tons for Brazil in April and 5 million tons in May.