Grain Highlights 16.06.2022

The export of cereals and oilseeds from Russia is facing a serious shortage of vessels due to the refusal of many companies to accept Russian orders.

- According to government forecasts, wheat exports from Russia will reach 39.5 million tons in 2022/23. Russia's grain production will exceed 130 million tons, and total grain exports are expected to exceed 50 million tons.

- As of June 14, 2022, 9.4 million hectares have been sown with sunseed in Russia, which is 3.5% more than in 2021. 9.2 million hectares were initially planned for sowing.

- The export of cereals and oilseeds from Russia is facing a serious shortage of vessels due to the refusal of many companies to accept Russian orders. Now the ships are mainly Turkish and Arab. There is a great shortage of vessels with a load of 50 - 60 thousand tons.

- Yesterday, commodity funds in Chicago were net sellers of 2,000 contracts of soybeans and 1,000 contracts of wheat and neutral to corn.

- In April, 681,300 tons of canola were exported from Australia, which is 20% less than in May. The main buyer was Japan with 156,620 tons (2,790 a year earlier). Exports are expected to remain unchanged in May, but will drop to 450,000 tons in June due to active exports of barley and wheat.

- Iraq is allocating 100 million USD for the rapid purchase of wheat and the creation of a strategic reserve.

- Jordan purchased 60,000 tons of feed barley at a price of 428.50 USD/ton C&F and delivery in September. Last week, 60,000 tons of barley were also purchased at a price of 444.90 USD/ton C&F. 60,000 tons of wheat were also purchased at a price of 489.75 USD/ton with delivery in September.