Grain Highlights 12.09.2023

From the beginning of the season, Egypt's state company GASC has imported 2.14 million tons of wheat, including 1.55 million tons from Russia, 420,000 tons from Romania, 120,000 tons from France, and 51,000 tons from Bulgaria.

- In 2022/23, Ukraine exported 4 million tons of sunseed oil, which is 24% higher than in 2021/22, although it remains one of the lowest levels in the last seven seasons. The main buyers were China and the EU, with a 42% share.

- In Ukraine, winter crops were sown on 1.155 million hectares, including 905,900 hectares of rapeseed, 228,600 hectares of wheat, and 10,800 hectares of barley.

- During the first eight months of 2023, Kazakhstan exported 7.4 million tons of grain, a 29% increase compared to 2022.

- As of September 10, 2023, in the United States, 5% of the 2023 corn crop has been harvested (5% earlier and 4% on average for the last five years). Spring wheat has been harvested on 87% of the acres (83% and 87%). Planting for winter wheat in the 2023/24 season has been completed on 7% of the planned areas (9% and 7%).

- As of September 7, 2023, in Brazil, 93% of the areas for the second corn crop for 2022/23 have been harvested (+5% in the last week). According to AgRural, 17% of the planned areas for the first corn crop in 2023/24 have been sown for central and southern regions of Brazil. Soybean planting for the 2023/24 season has started, with expected areas of 45.4 million hectares (+4% compared to 2022/23) and a production of 164 million tons.

- In the first 10 months of 2022/23, China imported 84.3 million tons of soybeans (+10% compared to 2021/22). For 2023/24, imports of 98.5 million tons and a production of 19.7 million tons are expected.

- Iraq has wheat stocks for the next 12 months due to a good production. The country's annual consumption is 4.5 - 5 million tons.

- In 2023/24, wheat areas in Egypt will increase by 25% compared to 2022/23, reaching 4 million acres (3.2).

- The South Korean company NOFI has announced a tender to purchase 130,000 tons of wheat with delivery within January - February 2024.

- Poland has decided to extend the ban on the import of Ukrainian grain if the EU releases imports after September 15, 2023.