Grain Highlights 17.03.2022

According to Allendale's forecast, corn areas in the EU will be 92.42 million acres in 2022 (93.36 in 2021).

- Strategie Grains has raised its forecast for wheat exports from the EU in 2021/22 by 2 million tons to 32.5 million tons. The forecast for the wheat production in 2022/23 has been increased by 1.1 million tons to 126.9 million tons.

- The Association of Farmers' Cooperatives in Germany forecasts a wheat production in the country of 22.6 million tons (+5.8% compared to 2021). The winter barley production will be 8.85 million tons (-0.4%), spring barley production is expected at 1.72 million tons (+13.3%) and corn production is projected to reach 4.13 million tons (-7%).

- According to Allendale's forecast, corn areas in the EU will be 92.42 million acres in 2022 (93.36 in 2021). Soybean areas will reach 89.28 million acres (87.2) and wheat areas are projected at 48.89 million acres (46.7).

- Indonesian authorities lift restrictions on palm oil exports from the country, but raise export taxes from USD 375/ton to USD 675/ton at prices above USD 1,500/ton.

- Jordan once again canceled the tender for the purchase of 120,000 tons of wheat, but scheduled the next one for March 24, 2022 under the same conditions.

- Turkey has held a tender for the purchase of 270,000 tons of wheat with 12.5% ​​protein. The lowest offered price was 450 USD/ton C&F.