Grain Highlights 03.05.2022

According to APC-Inform, grain and oil stocks in Ukraine are expected at 25.1 million tons at the end of 2021/22, which is 4.2 times more than 2020/21.

- According to APC-Inform, grain and oil stocks in Ukraine are expected at 25.1 million tons at the end of 2021/22, which is 4.2 times more than 2020/21. If losses in ports and some warehouses are accounted for, stocks will decrease to 21.3 million tons. As of January 1, 2022, the grain storage capacity in the country was 75 million tons. It is estimated that the loss of storage capacity will reduce the capacity to 60.9 million tons. The total grain production in Ukraine is expected to reach 55.9 million tons and there will be a shortage of storage capacity for 16.3 million tons of grain.

- According to USDA data, as of May 1, 2022, corn in the United States was sown on 14% of the planned areas (+7% for the week, 42% a year earlier and 33% on average for the last five years). The sowing campaign of soybeans was carried out on 8% of the planned areas (+5%, 22% and 13%). 27% of the winter wheat crops (27% and 48%) are in good and excellent condition.

- According to Conab data, as of April 30, 2022, 69% of the areas sown with the first corn crop have been harvested in Brazil (+3% for the week and 66% for the year before). The harvesting campaign of soybeans was completed on 94% of the crops (96% a year earlier).

- Over the last five years, India has consistently achieved record wheat productions. In February, the country's Ministry of Agriculture projected a production of 111.32 million tons, which would be another record. However, the current drought will reverse the trend and now the forecast shows a production of 105 million tons. The export of wheat, which is estimated at 12 million tons this year, will also be limited. From the beginning of 2022, exports reached 7.85 million tons (+275% compared to the first quarter of 2021).

- The authorities in Thailand have proposed the lifting of restrictions on imports of feed grain for a period of 3 months (May - July). The measure is related to reduced supplies from Ukraine and Russia. It is expected that 1.2 million tons of corn, wheat and barley will be imported during these three months. In addition, duty-free imports of 600,000 of corn are expected.