Grain Highlights 20.04.2023

20 Apr, 2023
Grain Highlights 20.04.2023
The Ministry of Agriculture of Russia forecasts a 2023/24 grain production in the country of 123 million tons, including wheat production of 78 million tons.

- The CNH Industrial company, which is one of the leading manufacturers of agricultural machinery in the world, is leaving Russia and selling its assets in the country for about 60 million USD. In 2021, the company had sales in Russia of USD 380 million, which is 2% of the group's consolidated revenue.

- Now, by land, Ukrainian production is most actively exported through Romania with a share of almost 80 - 85%, followed by Poland with 10%, Hungary with 5 - 6% and Slovakia with 1.5%.

- The European Commission has stated that Poland, Slovakia, Hungary, Romania and Bulgaria will not receive a package of financial aid without canceling the restrictions on the import of Ukrainian agricultural products.

- According to a forecast of the Association of Agricultural Cooperatives in Germany, the wheat production in the country will reach 22.15 million tons in 2023, which is 1.6% less than the previous year. The winter rapeseed production is expected at 4.25 million tons (-0.6%).

- In an ERA program proposed in March, starting in the summer of 2024, eight US states will be able to sell E15 gasoline year-round.

- The Federation of Port Workers' Unions in Argentina has called off a three-day strike after a meeting with the country's government. The main requests were to change the taxes of those working in the field.

- The Argentine government has given the country's wheat exporters the right to delay deliveries without penalties. Until 03.07.2023, companies have the right to postpone deliveries by 360 days. By this measure, the authorities wish to leave enough grain to meet domestic demand. In 2022/23, the wheat production in Argentina was 12.6 million tons (-43% compared to 2021/22).

- The State Company of Egypt GASC has purchased 35,000 tons of sunseed oil at a price of 1,020 USD/ton C&F and delivery within 25.05 – 18.06.2023. The purchase of soyoil was refused because the offer price was at least 80 USD/ton above the sunseed oil.

- According to data from the Ministry of Agriculture of Egypt, 228,000 tons of corn and 28,000 tons of soybeans were released for import from ports in the country. From 16.10.2022 until now, the import of corn has reached 3 million tons and soybean imports have reached 1 million tons.