Grain Highlights 11.04.2022

According to the forecast of the Ukrainian Grain Association, the grain production in Ukraine will reach 63 million tons in 2022, including wheat production of 18.2 million tons (33 in 2021).

- Over the week of April 4-10, 310,400 tons of grain were exported from the Russian port of Novorossiysk, which is 17% less than the previous week, including wheat exports of 260,600 tons, corn exports of 24,800 tons and barley exports of 25,000 tons. 124,300 tons of wheat were exported to Turkey, 68,100 tons to Iran, 31,500 tons to Algeria, 25,700 tons to Egypt and 11,000 tons to Lebanon.

- According to the forecast of the Ukrainian Grain Association, the grain production in Ukraine will reach 63 million tons in 2022, including wheat production of 18.2 million tons (33 in 2021). Transitional stocks of wheat will be 10 million tons, and wheat exports for 2022/23 will reach 10 million tons. The barley production is expected to reach 6.2 million tons (10.1) and barley exports are predicted at 2 million tons. The corn production is projected at 23.1 million tons (37.6) and corn exports are estimated at 20 million tons. The sunseed production will be 9.8 million tons (16.9). Rapeseed production is expected at 1.5 million tons (2.9) and rapeseed export will reach 1.3. The soybean production will be 1.8 million tons (3.5) and soybean exports are predicted at 0.6 million tons.

- The EU has introduced quotas for imports of fertilizers from Russia. They will be valid for 1 year.

- On Friday, commodity funds in Chicago were net buyers of 9,000 contracts of corn, 15,000 contracts of soybeans and 15,000 contracts of wheat.

- CNGOIC forecasts soybean consumption of 111.7 million tons in China in 2021/22 (-3 compared to the previous estimate and -5.5 million tons compared to the previous year). Soyoil consumption will decrease by 0.7 million tons compared to the previous estimate to 18.1 million tons. Soymeal consumption will be 74 million tons (-2). Corn consumption decreased by 2 million tons to 281.2 million tons (276).

- According to data from the Buenos Aires Grain Exchange, as of April 6, 2022, 93.7% of the sunseed areas in Argentina have been harvested. 3.1 million tons of sunseed were harvested at an average yield of 2.07 tons/hectare. The sunseed production is expected to reach 3.3 million tons (3.4 last year).

- According to ABS, 2.79 million tons of wheat were exported from Australia in February, which is 5% more than in January - 2.66 million tons. 3 million tons of wheat are expected to be exported in March.

- In March, palm oil stocks in Malaysia decreased for the fifth consecutive month to 1.47 million tons (-3% compared to February), which is the lowest level since March 2021. Palm oil production reached 1.41 million tons (+24%). Palm oil exports amounted to 1.27 million tons (+14.1%).