Grain Highlights 14.03.2022

The Russian government may suspend the export of wheat, rye, barley and corn over the period of 15.03 - 30.06.2022.

- The Russian government may ban the export of wheat, rye, barley and corn over the period 15.03 - 30.06.2022. Throughout the period of 01.07.2021 - 10.03.2022, 28.1 million tons of grain were exported from the country (-30.3% compared to the previous year), including wheat exports of 23 million tons (-30.9%), barley exports of 2.9 million tons (-34.7%) and corn exports of 1.8 million tons (-21.7%).

- Over the week of March 7-13, 245,100 tons of grain were exported from the Russian port of Novorossiysk (+10% compared to the previous week), including wheat exports of 224,900 tons and corn exports of 20,200 tons. 83,000 tons of wheat were sent to Egypt, 65,600 tons to Turkey, 41,300 tons to Israel and 35,000 tons to Libya. All corn exports were for Turkey.

- From 01.04.2022 the export tax on sunseed oil from Russia will be 313 USD/ton (260.1 in March).

- The authorities in Ukraine have imposed a ban on exports of all types of fertilizers.

- According to FranceAgriMer, as of March 7, 2022, 92% of winter wheat crops were in good and excellent condition in France (93% a week earlier and 88% a year earlier). 88% of the durum wheat crops (89% and 89%) were in good and excellent condition.

- Spain will start importing corn from Argentina and the United States very soon. Until now, the country has been buying corn from Ukraine.

- According to local analysts, ​​wheat areas in Canada will increase by 5 - 10% in 2022 compared to 2021.

- According to Safras & Mercado, wheat areas in Brazil this season will reach 3.64 million hectares, which is 33.4% more than last year, which will be a new record for the country. The previous record was set back in 1986/87 when wheat areas were 3.91 million hectares. The wheat production is projected at reach a record 10.79 million tons (+40%).

- According to data from the Buenos Aires Grain Exchange, as of March 9, 2022, the harvesting campaign of corn in Argentina has been carried out on 5.7% of the areas (+0.8% for the week). Over the week the condition of the crops improved and 25% of them were in good and excellent condition (+4% for the period). Yields are below expectations, which could lead to a new decline in the production estimate - 51 million tons now (-1.5 compared to 2020/21).

- The Argentine authorities have suspended exports of soybeans and soybean products due to an expected increase in export tax from 31% to 33%. 1.5 million tons of soymeal and 0.3 million tons of soyoil are exported from the country every month.

- In February, imports of sunseed oil in India fell by 50% compared to January in connection with the war in Ukraine. Imports of palm oil decreased by 18% due to high prices.

- Algeria prohibits the re-export of wheat and its products.

- Egypt received 189,000 tons of wheat from Russia, Ukraine and Romania, which was purchased a month ago. On March 5, 2022, 63,000 tons of wheat were received from Romania, and on March 8, 2022, 63,000 tons were imported from France.

- The authorities in Egypt have banned the export of vegetable oils and corn from the country.