Grain Highlights 16.05.2022

India banned wheat exports on Saturday. The ban does not apply to already agreed quantities of 4.3 million tons.

- From the beginning of the season to the middle of May, 33.85 million tons of wheat were exported from Russia (-10.4% compared to the previous year). Total grain exports reached 38.3 million tons over the same period (-17.6%). The lag of exports of barley compared to 2020/21 is 33.6%, and corn exports are lagging by 30%.

- In the past week, 119,000 tons of grain were exported from the Russian port of Novorossiysk (+2% compared to the previous week), including 113,000 tons of wheat for Saudi Arabia, Syria, Italy and Turkey.

- According to meteorologists from the EU, the summer in Europe, Asia and parts of the United States will be dry and hot.

- On Friday, commodity funds in Chicago were net sellers of 8,000 contracts of corn, 1,000 contracts of wheat and 12,000 contracts of soybeans.

- According to the forecast of the Buenos Aires Grain Exchange, the wheat production in Argentina will reach 20.5 million tons in 2022/23 (22.4 in 2021/22). The barley production is projected at 5.4 million tons (+0.2).

- The heat continues in India and covers Pakistan, where temperatures reach 50 degrees.

- Turkish authorities have denied the news that the country will buy wheat from India.

- According to Oil World in April, the world's four largest soybean exporters - Brazil, the United States, Argentina and Paraguay - exported 15.51 million tons of soybeans (15.98 in March and 19.05 in April 2021). Exports from Brazil reached 11.48 million tons (12.19 and 16.11) and 3.24 million tons from the United States (3.21 and 1.39). Imports to China were 8.87 million tons (9.82 and 12.06) and imports to the EU were 1.56 million tons (1.36 and 1.51). Soybean processing in these 4 countries reached 13.65 million tons in April (12.9 in March).