Grain Highlights 20.04.2022

According to the forecast of Refinitiv, the corn production in the EU is expected to reach 68.9 million tons in 2022/23 (68.9 in the previous estimate and -6.6 compared to 2021/22).

- According to the forecast of Refinitiv, the corn production in the EU is expected to reach 68.9 million tons in 2022/23 (68.9 in the previous estimate and -6.6 compared to 2021/22). However, the European Commission is optimistic and forecasts a corn production in the EU of 74 million tons.

- Authorities in Serbia have banned the export of wheat, corn and oils. It is noted that if the EU bans the supply of Russian oil and gas, the country will seek imports from other suppliers.

- Yesterday, commodity funds in Chicago were net buyers of 1,000 soybean contracts and net sellers of 7,000 corn contracts and 8,500 wheat contracts.

- According to GAPKI, 2.09 million tons of palm oil were exported from Indonesia in February, which is 3.7% less than in January (2.17 million tons). Compared to February 2021, palm oil exports increased by 1.35%.

- In March, China imported 3.37 million tons of soybeans from the United States (7.18 in March 2021). Deliveries from Brazil were 2.87 million tons (315,330).

- Wheat prices in India have risen after the announcement that Egypt has bought 1 million tons of Indian wheat. The average yield of the crop during the current season is projected to drop to 4.47 tons/hectare (4,868 a year earlier).

- In 2022/23, wheat imports in Turkey will reach 11 million tons (+1 compared to 2021/22) according to the forecast of the FAS USDA. Over the period of June-January, imports amounted to 6.95 million tons, including 4.52 million tons from Russia (6.37 in the whole 2020/21 and 6.89 million tons in the whole 2019/20), 1.63 million tons from Ukraine (0.74 and 1.31), 1.13 million tons from Romania (0.02 and 0.129) and 0.4 million tons from Moldova (0.183 and 0.26).

- Jordan has canceled a tender for the purchase of 120,000 tons of feed barley of any origin. Only one offer for sale was presented at the tender.