Grain Highlights 19.04.2022

According to USDA data, as of April 17, 2022, 8% of the areas planned for spring wheat have been sown in the United States (18% a year earlier and 9% on average for the last five years).

- Over 1 million tons of cereals and oilseeds that are loaded on ships in Ukrainian ports may be exported soon. There are now 57 vessels in ports with 1.25 million tons of loaded crops.

- According to USDA data, as of April 17, 2022, 8% of the areas planned for spring wheat have been sown in the United States (18% a year earlier and 9% on average for the last five years). 4% of the areas were sown with corn (7% and 6%) and 1% with soybeans (3% and 2%). 30% of the winter wheat crops are in good and excellent condition (32% a week earlier and 53% a year earlier).

- On Friday, commodity funds in Chicago were net buyers of 16,000 contracts of corn, 10,000 contracts of soybeans and 10,500 contracts of wheat.

- According to the FAS USDA forecast, soybean areas in Brazil will increase by 0.5% in 2022/23 compared to 3.8% a year earlier. The production is projected to reach 141 million tons with an average yield of 3.53 tons/hectare. The soymeal production will be 37.5 million tons (36.85) and soyoil production is expected to reach 9.8 million tons.

- According to Conab data, as of April 16, 2022, 87% of soybean areas have been harvested in Brazil (+2% for the week and 90% a year earlier).

- According to data from the Buenos Aires Grain Exchange, as of April 12, 2022, the harvesting campaign of soybeans in Argentina was completed on 14.4% of the areas, which is twice as much as last year. 7.33 million tons of soybeans were harvested at an average yield of 3.14 tons/hectare. The production is expected to reach 42 million tons (43.1).

- According to the Chinese Customs Service, 2.41 million tons of corn (+25% compared to March 2021), 870,000 tons of wheat (+95%), 550,000 tons of barley (-48%) were imported into the country in March.

- The authorities in Egypt are considering the possibility of growing GM wheat in the country given the high prices on international markets. Wheat consumption in Egypt reaches18 million tons annually with a domestic wheat production of 10 million tons. Over the next three years, wheat area are planned to increase by 630,000 hectares.