Grain Highlights 24.06.2022

Over the week of June 29 - July 5, 2022, the export tax on Russian wheat will reach 146.1 USD/ton (142 weeks earlier).

- In the week 29.06 - 05.07.2022, the export tax on Russian wheat will be 146.1 USD/ton (142 weeks earlier). The export tax on barley will be 117.5 USD/ton (unchanged) and the export tax on corn will reach 88.7 USD/ton (86.5).

- As of June 23, 2022, 29.1 million hectares were sown with cereals in Russia (-0.6 compared to 2021). Wheat areas reached 12.7 million hectares (13.1), barley areas reached 7.3 million hectares (7.4) and corn areas amount to 2.9 million hectares (3). 9.6 million hectares (9.2) have been sown with sunseed.

- In 2021, 6.5 million hectares were sown with winter wheat in Ukraine. In the autumn of 2022, the areas are expected to decrease by at least 30% to 4.4 million hectares.

- In early July, the authorities in Ukraine will cancel the licenses for the export of wheat from the country.

- Over the period of 01.07.2021 - 24.06.2022, 48.13 million tons of grain were exported from Ukraine, and from the beginning of June, grain exports totaled 1.032 million tons. Wheat exports reached 18.687 million tons (89,000), barley exports were 5.739 million tons (23,000) and corn exports were 23,232 million tons (915,000).

- Yesterday, commodity funds in Chicago were net sellers of 30,000 contracts of corn, 26,000 contracts of soybeans and 11,000 contracts of wheat.

- According to data from the Buenos Aires Grain Exchange in Argentina, the 2021/22 harvesting campaign of soybeans has been completed. 43.3 million tons of soybeans were harvested (+0.2 compared to 2020/21 and -8.5% compared to the average five-year level). Corn has been harvested on 42% of the areas and 21.2 million tons of corn were harvested. The sowing campaign of wheat has been completed on 62% of the planned areas.

- In April, palm oil exports from Indonesia were 2.09 million tons (-20.75% compared to March). During the month palm oil production was 3.88 million tons (+2.67%) and palm oil stocks reached 6.1 million tons (+7.4%).