Grain Highlights 02.06.2023

According to a forecast of the Ukrainian Grain Association, the export of grain and oil crops from Ukraine will reach 43.9 million tons in 2023/24.

- During the week of June 7-13, the export tax on Russian wheat will be 2,856.3 rubles/ton (4,525.4 a week earlier). The export tax on barley will be 0 rubles/ton (1,224.7) and the export tax on corn will be 1,214.4 rubles/ton (2,753.6).

- Russia has restricted the movement of ships around the currently largest Ukrainian port of Pivdenny because the country cannot export ammonia through the territory of Ukraine.

- From the beginning of the season to 02.06.2023, the export of grain from Ukraine reached 45,468 million tons, including 65,000 tons in June. Exports of wheat were 15.529 million tons (20,000), barley exports reached 2.647 million tons (100) and corn exports totalled 26.96 million tons (45,000).

- According to a forecast of the Ukrainian Grain Association, the export of grain and oil crops from Ukraine will reach 43.9 million tons in 2023/24. Wheat exports are projected at 15 million tons, and wheat production is estimated at 17.9 million tons (-11% compared to 2022/23). Ending wheat stocks will be 5.3 million tons. Barley exports are expected at 2 million tons and barley production is predicted at 4.4 million tons (-1.4). Corn exports are estimated at 19 million tons, and the production will be 23.3 million tons (-14%). The sunseed production is projected to reach12.7 million tons (+14%), domestic sunseed processing will be 11.5 million tons and sunseed export will be 1.2 million tons. Rapeseed production will reach 3.8 million tons (+3.8%), rapeseed export are expected at 3.5 million tons. Soybean production is expected to reach 4.4 million tons (+19%) and soybean export at 3 million tons.

- As of June 1, 2023, 5,472 million hectares (5,457 in the forecast) were sown with spring cereals in Ukraine, including 269,500 hectares of spring wheat, 766,100 hectares of spring barley and 3.893 million hectares of corn. 5,043 million hectares (89% of the forecast) were sown with sunseed, and 1,739 million hectares (94%) with soybeans.

- According to data from FranceAgriMer, as of 29/05/2023, 91% of soft wheat crops in France are in good and excellent condition (93% a week earlier and 67% a year earlier), as well as 92% of the corn crops (94% and 90 %) with the sowing campaign of corn being completed on 98% of the planned areas (+3% for the week and 100% a year earlier). Of winter barley, 88% of crops are in good and excellent condition (90% and 65%). 93%of spring barley are in good and excellent condition (95% and 54%).

- According to data from the Buenos Aires Grain Exchange, as of 31/05/2023, 6% of the planned 6.3 million hectares have been sown with wheat for the 2023/24 crop in Argentina (14% and 6.1 million hectares a year earlier). 29% of the corn areas have been harvested (+2%, 32% a year earlier and 40% on average for the last five years). The harvesting campaign of soybeans was carried out on 87% of the areas (+9%, 97% and 96%).

- According to data from the Ministry of Agriculture of Argentina, as of 05/24/2023, farmers in the country sold 36.8 million tons of the 2021/22 soybean crop (41 in 2020/21) and 100,000 tons of the new 2023/24 crop. Sunseed sales of the 2022/23 crop are 2.6 million tons (2.3) and 100,000 tons for the new 2023/24 sunseed crop. Corn sales were 12.3 million tons of the old crop (25.8), and 0.2 million tons for the new 2023/24 crop (1.9).

- Saudi Arabia has announced a tender for the purchase of 480,000 tons of wheat with delivery within September-October.

- From 01.05.2023, Turkey has raised import duties on wheat, corn and barley to 130%. The import tax on sunseed rose to 27% and the import tax on sunseed oil to 36%.