Grain Highlights 05.04.2022

In the United States, 30% of winter wheat crops are in good and excellent condition (53% a year earlier), 34% are in fair condition (31%) and 36% of the crops are in poor and very poor condition (16%).

- According to the Russian Grain Union, 2.25 million tons of grain were exported from Russia in March. Given the many risks, it is diffucult to predict the level of exports for April.

- The Ministry of Agriculture of Ukraine advise farmers to sow sunseed, rapeseed and soybeans, given that they are more expensive and provide lower yields, ie. easier logistics and storage.

- Yesterday, commodity funds in Chicago were net buyers of 14,500 contracts of corn, 10,500 contracts of soybeans and 13,500 contracts of wheat.

- In the United States, 30% of winter wheat crops are in good and excellent condition (53% a year earlier), 34% are in fair condition (31%) and 36% of the crops are in poor and very poor condition (16%). 2% of the planned areas have been sown with corn (2% on average for the last five years). 3% of the areas have been sown with spring wheat (3%).

- As of 02.04.2022, 81% of the soybean areas have been harvested in Brazil (+5% for the week and 79% a year earlier). The second corn crop was sown at 100% (98%) and the first corn crop has been harvested at 52% of the areas (51%).

- China has purchased 676,000 tons of corn from the old crop from the United States and 408,000 tons of the new 2022/23 crop. The purchase was necessary given the suspended exports from Ukraine. Over October - February, 5.55 million tons of corn were exported from Ukraine to China.

- In 2021/22, a record 7.85 million tons of wheat were exported from India (2.1 in 2020/21).

- Wheat stocks in Egypt are sufficient to meet domestic consumption for the next 2.6 months, ie. until the new wheat production enters the domestic market. Stocks of vegetable oils and rice are sufficient enough for 5.9 months.