Grain Highlights 12.05.2022

In 2022/23, the wheat production in Argentina will reach 19 million tons, according to estimates by the Rosario Grain Exchange.

- Over the period January - April, 125,000 tons of sunsed were exported from Ukraine to the EU, which is 3 times more than the previous year. In April alone, deliveries were 110,000 tons, the highest level for this month of the year since 2008/09.

- FranceAgriMer has lowered its forecast for wheat exports from France to non-EU countries this season to 9.25 million tons (9.5 in April). For EU countries, exports will be 8 million tons (8.1). The ending wheat stocks in the country will reach 3.2 million tons (3), and ending corn stocks will be 2.2 million tons (2).

- Yesterday, commodity funds in Chicago were net buyers of 10,000 corn contracts, 8,000 soybean contracts and 15,000 wheat contracts.

- Anec has increased its forecast for soybean exports from May by 2.6 million tons to 10.6 million tons, which is 25% less than in May 2021. Soymeal exports are expected to reach 1.9 million tons (+0.3 million tons compared to the previous estimate and +13% for the year).

- According to the forecast of Patria Agronegocios, the soybean production in Brazil will reach 146 million tons in 2022/23 (+19.5% compared to 2021/2). FAS USDA estimates the production at 141 million tons.

- In 2022/23, the wheat production in Argentina will reach 19 million tons, according to estimates by the Rosario Grain Exchange. In 2021/22, wheat production was 22.1 million tons and the average production for the last five years was 19.3 million tons. Sowing took place over May-June, and the harvest began in October.

- Turkey has reserved 50,000 tons of Indian wheat, which happens for the first time. In the last week alone, the price of Indian wheat has risen by 15%.