Grain Highlights 06.09.2022

Strategie Grains forecast a 2022 EU sunseed production of 9.17 million tons (10.34 in 2021 and 8.8 in 2020), soybean production of 2.49 million tons (2.69 and 2.64) and rapeseed production of 19.15 million tons (17 and 16.63).

- As of September 2, 2022, 227,600 tons of sunseed were harvested in Russia (356,500 a year earlier) with an average yield of 2.3 tons/hectare (1.46). The harvested rapeseed reaches 2.17 million tonn (1.3) at an average yield of 2.5 tons/hectare (1.98) and harvested soybeans reached 70,500 tons (106,000) at an average yield of 1.73 tons/hectare (1.68). The sunseed production is expected to reach 16.8 million tons (15.6), soybean production is expected at 5.5 million tons and rapeseed production is projected at 4 million tons.

- Russian Foreign Minister Lavrov has stated that the West is not fulfilling its obligations under the grain corridor agreement for the export of Ukrainian grain. The logistical sanctions hindering the export of Russian grain and mineral fertilizers to world markets have not been lifted. Another Russian representative has stated that his country does not see a particular need to continue the agreement.

- As of September 2, 2022, 2.73 million hectares were sown with winter crops in Russia, which is 526 thousand hectares less than last season.

- Sowing campaign of winter crops has started in Ukraine. 7,640 hectares have already been sown, including 5,170 hectares with wheat, 2,000 hectares with barley and 470 hectares with rye.

- In 2021/22, the export of sunseed oil from Ukraine reached 4.49 million tons (-15% compared to 2020/21) and is the lowest level since 2016/17. The largest customer is the EU with a share of exports of 41% (27% in 2020/21). Ukraine provided 83% of sunseed oil imports to the EU.

- Strategie Grains forecast a 2022 EU sunseed production of 9.17 million tons (10.34 in 2021 and 8.8 in 2020), soybean production of 2.49 million tons (2.69 and 2.64) and rapeseed production of 19.15 million tons (17 and 16.63).

- ABARES estimates that in 2022/23 Australian farmers could receive a record USD 48 billion from agricultural exports. The season's wheat production is projected at 32.2 million tons, barley production is estimated at 12.3 million tons and canola production is expected at 6.6 million tons. The total production of winter crops will reach 55.5 million tons.

- Iraq has purchased 100,000 tons of hard red wheat from the United States at 494 USD/ton C&F.

- Nigeria plans to increase corn production to 23 million tons, which is 12% more than the previous season. The annual consumption of corn in the country is 30 million tons.