Grain Highlights 27.06.2022

Saudi Arabia bought 495,000 tons of milling wheat at an average price of 411.93 USD/ton C&F and delivery within November - January.

- Over the period of 01.07.2021 - 26.06.2022, 43 million tons of grain were exported from Russia (-12.4% compared to the previous year), including wheat exports of 36 million tons (-5.5%). In the past week, grain exports were 205,000 tons (+16.8%), including wheat exports of 193,200 tons (+48.3%) and corn exports of 45,000 tons (-11,000 tons).

- Russian farmers have harvested 1.1 million tons of grain from 253,300 hectares.

- Over the period of 01.07.2021 - 27.06.2022, 48.209 million tons of grain were exported from Ukraine, and from the beginning of June grain exports totaled 1.111 million tons. Exported wheat reached 18,709 million tons (104,000), barley exports were 5.74 million tons (24,000) and corn exports were 23,295 million tons (978,000).

- As of June 24, 2022, Moldova has lifted the ban on the export of wheat and wheat flour. In 2022, the country's wheat production will be 900,000 tons (-30%), domestic consumption is projected at 600,000 tons and initial stocks are expected at 75,000 tons. The ban on wheat exports came into force on March 1, 2022.

- According to the forecast of the Association of German Farmers, the grain production in Germany will reach 41.2 million tons in 2022 (44.2 average level in the period 2015 - 2020). In 2021, the production was 42.3 million tons.

- Over the period of 13.05.2022 - 26.06.2022, 1.8 million tons of wheat were exported from India. During this period, the export of wheat was banned and the export was made after approval by the government.

- Taiwanese group MFIG has announced a tender for the purchase of 65,000 tons of corn from the United States, Brazil, Argentina or South Africa with delivery within 25.08 - 28.09.2022.

- According to the forecast of the Farmers' Union in Tunisia, the grain production in the country will reach 1.4 million tons in 2022 (-20% compared to 2021).

- Egypt has bought 180,000 tons of wheat from India with the initially announced 500,000 tons.

- Saudi Arabia bought 495,000 tons of milling wheat at an average price of 411.93 USD/ton C&F and delivery within November - January.

- Wheat stocks in Egypt are sufficient to meet domestic demand over the next 5.7 months. Authorities bought 3.9 million tons of wheat from local farmers. The stocks of vegetable oils are sufficient for the next 6.2 months, and those of rice for 3.3 months.

- According to data from the June forecast of Oil World, the world soybean and rapeseed productions may increase to a new record of 385.1 million tons for soybeans and 72.8 million tons for rapeseed in 2022/23. The soybean production is estimated at 125.7 million tons in the United States (+5 million tons compared to 2021), 144 million tons Brazil (+18), 45 million tons in Argentina (+3.2), 10 million tons Paraguay (+6), 18.2 million tons in China (+1.8). World soybean processing will reach 323.8 million tons (318.26) and ending soybean stocks will be 98 million tons (+12.3). The world rapeseed production will increase given the expected increase in Canada, where the rapeseed production will be 19.6 million tons (12.6) and the EU where production is expected to reach 18.62 million tons (17.39). There will be a decline in the production in Australia (6.5 million tons from 7 last year), India (10.1 million tons from 10.3) and Ukraine (2.6 million tons from 3.13). Rapeseed processing will be 68.1 million tons (64) and ending stocks are projected at 7.55 million tons (5.33).