Grain Highlights 28.04.2022

According to the meteorological service EarthDaily Agro, April turned out to be the driest month for the Brazilian state of Mato Grosso in the last 17 years.

- According to the IGC forecast, the wheat production in Kazakhstan will reach 13.5 million tons in 2022/23, initial stocks will be 0.8 million tons, wheat imports are estimated at 0.9 million tons, domestic consumption is projected at 6.2 million tons, wheat exports will reach 8 million tons and ending wheat stocks are expected at 0.9 million tons.

- According to the latest forecast of Refinitiv, winter wheat production in the United States will be 33.8 million tons in 2022/23 (-5% compared to the previous estimate and 32.8 in 2021/22). The spring wheat production will be 12 million tons (9 in 2021/22). The total wheat production will reach 47.4 million tons (2.6).

- Yesterday, commodity funds in Chicago were net buyers of 8,500 contracts of corn and 10,500 contracts of soybeans and net sellers of 1,500 contracts of wheat.

- According to the meteorological service EarthDaily Agro, April turned out to be the driest month for the Brazilian state of Mato Grosso in the last 17 years. During the month, precipitation was only 30% of the average level for the last 10 years. Farmers are worried about the second corn production, which is currently projected at 40 million tons for the state. The total corn production is expected to reach 88.5 million tons in Brazil.

- Analysts expect exports of palm oil from Indonesia to resume in 3 weeks. During this period, the world market will be deprived of 1.52 million tons of palm oil .

- Egypt has received 7 offers for the sale of soyoil with prices of 1,955 - 2,190 USD/ton when paid immediately and 1,970 - 2,200 when paid after 180 days. Deliveries will be made over June - July. No offers have been received for the sale of sunseed oil.

- Turkey has purchased 18,000 tons of sunseed oil at prices of 1,997 - 2,007 USD/ton C&F with delivery within May - June.

- Jordan has canceled a tender for the purchase of 120,000 tons of wheat of any origin. The next tender will be held on 11.05.2022.