Grain Highlights 09.08.2023

Rusagrotrans expects wheat production in Russia of 88.7 million tons in 2023 (up from 85.5 million in the previous estimate).

Rusagrotrans predicts wheat production in Russia in 2023 at 88.7 million tons (up from 85.5 million in the previous estimate). The total grain production is projected at 137.2 million tons, including barley production of 19.7 million tons and corn production of 14.9 million tons. Grain exports are expected to reach 61.3 million tons (compared to 57 million in 2022/23), with wheat exports at 49.2 million tons (up from 47 million).

During the period July 01 - August 09, 2023, Ukraine has exported 2.762 million tons of grain (compared to 2.339 million tons in the same period the previous year), including 488,000 tons in August (compared to 726,000 tons). Wheat exports have amounted to 1.076 million tons (255,000 tons in August), barley exports reached 349,000 tons (54,000 tons), and corn exports were 1.331 million tons (178,000 tons).

Poland has requested funding from the EU to establish a transit corridor for exporting Ukrainian grain, including ports, railway infrastructure, and other facilities.

According to government data, Brazil has exported a record-breaking 50.4 million tons of soybeans to China from January to July. During the period, Brazil's total soybean exports have reached 72.5 million tons (+19% compared to 2021/22), with China accounting for 69.5%. Conab's forecast for soybean exports in 2022/23 is a record 96 million tons (+25%).

According to Imea's forecast, the soybean production in the Brazilian state of Mato Grosso is expected to reach 43.8 million tons in 2023/24 (-3.4% compared to 2022/23).

According to Anec's forecast, soybean exports from Brazil are projected to reach 8.8 million tons in August (compared to 9.1 million in July and 5 million in August 2022). Soymeal exports will be 2.2 million tons (-0.3 and +0.6), and corn exports are estimated at 9.8 million tons (compared to 6.4 and 6.8).

Syria has announced a tender to purchase 200,000 tons of soft wheat with delivery over the next 2 months following the contract's conclusion.