Grain Highlights 26.07.2022

26 Jul, 2022
Grain Highlights 26.07.2022
According to the FAS USDA forecast, wheat exports from Argentina could reach a maximum of 12.35 million tons in 2022/23 (16.2 in 2021/22).

- Over the period of July 1 - 23, 2.03 million tons of wheat (+30% compared to the previous year), 157,000 tons of barley (-58%) and 76,000 tons of corn (-34%) were exported from Russia.

- Ukraine's government plans to reach pre-war grain export levels in mid-autumn. At that time, at least 5 million tons of grain were exported monthly.

- According to a government forecast from Kazakhstan, the wheat production in the country will reach 13-13.5 million tons in 2022/23, which is 15-20% more than the average five-year level. Domestic consumption is expected at 6 million tons.

- France's Agritel predicts that in 2022/23 the soft wheat production in France will reach 33.44 million tons (-5.6% compared to the previous year and 33.44 compared to the first estimate for the season).

- As of 24.07.2022, 67% of the spring wheat crops in the United States are in good and excellent condition (-3% compared to the previous week), as well as 61% (64%) of the corn crops and 59% (61%) of the soybean crops. 77% of the winther wheat areas were harvested (82% a year earlier).

- According to data from Safras&Mercado, as of 22.07.2022, the second corn production in Brazil has been harvested on 53.6% of the areas, which are 14.73 million hectares (33.8% a year earlier).

- According to the latest forecast by Safras&Mercado, the wheat production in Brazil will be 10 million tons in 2022, which is a new record for the country.

- According to the FAS USDA forecast, wheat exports from Argentina could reach a maximum of 12.35 million tons in 2022/23 (16.2 in 2021/22). The wheat production will decrease to 18.5 million tons (22.5). The corn production is expected to reach 53 million tons, and corn exports are projected at 38.8 million tons.

- The authorities in China assess the Ukrainian grain export agreement as positive for the cooling of international markets and note that the deal does not have a very big impact on Chinese purchases. In 2021, China delivered products from Ukraine worth 3.2 billion dollars, which is 4.3% of the country's total imports.