Grain Highlights 01.05.2023

01 May, 2023
Grain Highlights 01.05.2023
The European Commission has agreed on the cancellation of national restrictions on the import of wheat, corn, rapeseed and sunseed with Poland, Hungary, Slovakia, Romania and Bulgaria. Farmers in these countires will be provided a second aid in the amount of 100 million euros.

- According to the data of APC - Inform, in March, 524,000 tons of sunseed oil (+28% compared to February) were exported from Ukraine, which is the highest level for the last 14 months. Exports to the EU are up 47%, and exports to China are 25% higher. There are also exports to Iraq after no exports for the last three months. Over the period of September - March, exports reached 3.2 million tons - at the level of last year. In April and May, exports will decrease given the large stocks in the main EU customers. By the end of 2022/23, another 1.2 - 1.3 million tons of oil may be exported.

- According to data from APC - Inform, soybean exports from Ukraine reached 417,000 tons (+27% compared to February) in March. Since the beginning of the season, the export is 2.4 million tons, which is the highest level for the last three seasons, of which less than half is for the EU.

- From the beginning of the season to 01/05/2023, 41.595 million tons of grain were exported from Ukraine (45,869 a year earlier), including 3.619 million tons in April (923,000). 14.385 million tons of wheat (18.526 in 2021/22), 2.461 million tons of barley (5.668) and 24.424 million tons of corn (21.211) were exported.

- The European Commission has agreed on the cancellation of national restrictions on the import of wheat, corn, rapeseed and sunseed with Poland, Hungary, Slovakia, Romania and Bulgaria. Farmers in these countires will be provided a second aid in the amount of 100 million euros. Quotas will be introduced when importing agricultural products from Ukraine, but details have not been announced.

- According to a CNGOIC estimate, during the week ending on 21/04/2023, soybean processing in China reached 1.64 million tons (+3% compared to the previous week and -1% compared to the previous year). Stocks of soybeans in the country are 3.2 million tons (+8% and -32%), soymeal stocks were 260,000 tons (-10% and -26%) and soyoil stocks were 600,000 tons (-2% and -25%).

- According to an estimate by the Ministry of Agriculture of Morocco, the production of cereals in the country will increase by 62% in 2023 compared to 2022 and will reach 5.51 million tons (3.43), including milling wheat production of 2.98 million tons, durum wheat production of 1.18 million tons and barley production of 1.35 million tons.

- Over the period of January - April, 3.48 million tons of wheat were delivered to Egypt, including 684,400 tons in April. The import of Russian wheat was 3.16 million tons, 209,300 tons from Ukraine, 59,500 tons from the United States and 51,600 tons from Australia.

- Oil World predicts that world soyoil production in 2022/23 will be 58.9 million tons (-0.3 compared to the forecast in March and -0.9 compared to 2021/22). Production in Argentina will decrease by 1.4 million tons, by 0.3 million tons in the EU, by 2.2 million tons in China. In Brazil soyoil production will increase by 0.7 million tons and in the United States it will increase by 0.1 million tons. Over the period of October - March, world production fell by 1 million tons, and consumption decreased by 1.2 - 1.3 million tons. The world export of soyoil in 2022/23 is projected to reach 11.75 million tons (-1.3 compared to 2021/22), including 4.25 million tons from Argentina.