Grain Highlights 07.06.2023

As of 07/03/2023, 1% of second corn crop has been harvested in Brazil (3% a year earlier).

- Over the period of 01.07.2022 – 28.05.2023, supplies of sunseed oil from Ukraine to the EU reached 1.808 million tons or 84.4% of the total imported amount (27.9% a year earlier). Deliveries from Moldova were 194,219 tons (347,540 a year ago or 49%), 35,638 from Argentina (36,715), 35,400 from China (35,455) and 26,782 from Turkey (32,248). The largest importers of Ukrainian sunseed were Bulgaria, Romania and Hungary.

- Chicago commodity funds were net buyers of 6,000 contracts of corn, 2,500 contracts of soybeans and 2,000 contracts of wheat yesterday.

- As of 07/03/2023, 1% of second corn crop was harvested in Brazil (3% a year earlier). Harvesting takes place only in Mato Grosso. First corn crop has been harvested on 83% of the areas (+1% for the week and 87% last year). Wheat was sown on 41% of the planned areas (+6% and 39%). Rainfall in Rio Grande do Sul has accelerated the campaign, and in Paraná crops are in good condition.

- According to preliminary data of the Chinese customs service, 12.02 million tons of soybeans were delivered to the country in May, which is 65% more than April - 7.26 million tons and 24% more than May 2022. In the first five months of 2023, soybean imports totalled 42.31 million tons (+11.2% compared to 2022). In June, the forecast indicates imports of 13 million tons.

- On 06/08/2023, Algeria held a tender for the purchase of 140,000 feed corn with delivery within July-August and 35,000 tons of soymeal with delivery by early July.

- Morocco is looking to buy 500,000 tons of feed barley. Given the drought in the country, the total grain production will reach 5.5 million tons, including soft wheat production is estimated at 2.98 million tons, durum wheat production of 1.18 million tons and barley production of 1.35 million tons.

- On 06/06/2023, Egypt purchased 55,000 tons of Russian wheat at a FOB price of 229 USD/ton + freight of USD/ton or a total price of 244.50 USD/ton C&F and delivery at the end of July.

- The Grain Agency of Turkey has raised the purchase prices of wheat by 28% and the purchase prices of barley by 23%, which will be applied to transactions with local farmers. Thus, the prices for wheat reached 430 USD/ton, and for barley 348.50 USD/ton.