Grain Highlights 16.08.2023

During the week ending on August 10, wheat exports from Russia reached 1.2 million tons (1 year earlier). The last time such an export level occurred was in August 2021.

During the week ending on August 10, wheat exports from Russia reached 1.2 million tons (1 year earlier). The last time such an export level occurred was in August 2021. SovEcon forecasts wheat exports for August to be between 4.8 to 5.1 million tons (3.5).

According to predictions from Russian analysts, the sunseed production in Russia for 2023 will be excellent, within the range of 16 to 16.6 million tons.

In the first 15 days of August, 820,000 tons of grain have been exported through Ukrainian Danube ports. Additionally, 75,000 tons of grain have been exported via automobiles.

In June 2023, wheat exports from the United Kingdom reached 99,080 tons, marking the lowest level in the last eight months (compared to 156,600 in June 2022). The main customer was Spain with 72,600 tons. Since the beginning of the season, exports amount to 1.58 million tons (compared to 511,100 a year earlier). In June, imports were 127,030 tons, and since the start of the season, they reached 1.35 million tons (compared to 1.99). Canada has been the largest supplier in June, with 75,300 tons.

Anec forecasts soybean exports from Brazil for August to reach 7.8 million tons (a decrease of 1 compared to the previous estimate and a decrease from 9.1 in July and 5.1 in August 2022). Corn exports are expected at 9 million tons (a decrease of 0.8, compared to 6.4, 6.8) and soymeal exports are projected at 2.1 million tons (a decrease of 0.1).

According to Conab data, as of August 12, 2023, the harvesting of the second corn production in Brazil has been completed on 72% of the areas (an increase of 8% for the week and 86% compared to the previous year). Wheat harvesting has been completed on 4% of the areas (an increase of 1% and 3%).

Jordan has purchased 60,000 tons of wheat (out of a initial demand for 120,000 tons) at a price of 295 USD/ton C&F with delivery scheduled for January. Other offers were priced between 299.95 USD/ton and 317 USD/ton.