Grain Highlights 28.03.2022

According to the forecast of the Russian Grain Union, the grain production in Russia will reach 120 million tons in 2022.

- Over the week of March 21-27, 2022, 262,400 tons of grain were exported from the Russian port of Novorossiysk, which is 9% less than the previous week. 231,900 tons of wheat and 30,500 tons of corn were exported. The largest customers for wheat were Egypt with 87,600 tons and Turkey with 58,000 tons. The only customers for corn were Turkey and Egypt.

- The Russian Grain Union reports that over the period of 01.07.2021 - 27.03.2022 grain exports from Russia reached 34.7 million tons, including wheat exports of 30.3 million tons. During the period 01.03 - 27.03.2022, wheat exports totaled 1.6 million tons (1.7 throughout February).

- According to Oil World, rapeseed oil exports from the EU will reach 400,000 tonsin 2021/22 compared to 735,000 a year earlier. Imports are growing and during the season the EU will be a net importer of 100,000 - 120,000 tons of oil.

- On Friday, commodity funds in Chicago were net buyers of 4,500 contracts of corn, 4,500 contracts of soybeans and 6,500 contracts of wheat.

- According to data from Safras & Mercado, as of March 25, 2022, the harvesting campaign of soybeans in Brazil was carried out on 76.4% of the areas (+6.5% for the week and +9.5% compared to last year). In the state of Mato Grosso, the harvesting campaign is over, and in Parana it is completed on 80% of the areas.

- According to the forecast of Oil World, the import of vegetable oils in India will decrease to 13.41 million tons in 2021/22 (-0.8 compared to the previous estimate), which is the lowest level for many years. Over the period of April - September, imports will decrease by 1 million tons compared to last year. Over the period April - June, the sunseed oil imports will be only 0.2 - 0.3 million tons due to high prices.

- Turkey bought 300,000 tons of corn on two tenders at an average price of 423.1 USD/ton C&F and delivery within 08.04 - 05.05.2022.