Grain Highlights 27.09.2022

MARS predicts a new wheat production in Russia of 95 million tons (+25% compared to 2021).

- MARS predicts a new wheat production in Russia of 95 million tons (+25% compared to 2021). Winter wheat production is projected at 70.2 million tons (+31%) and spring wheat production is expected at 24.8 million tons (+10%). Barley production will reach 21.7 million tons (+18%), and corn production is estimated at 16.4 million tons (+6%).

- In Russia, 9 million hectares were sown with winter crops (47% of the planned).

- In Ukraine, 709,000 hectares were sown with winter cereals (15% of the planned), including wheat areas of 622,000 hectares (16%) and barley areas of 65,000 hectares (10%). For the last week, 298,000 hectares have been sown.

- As of 22.09.2022, 440,930 hectares of cereal crops were harvested in Moldova (92.8% of all areas), and 1.58 million tons of grain were harvested at an average yield of 3.57 tons/hectare.

- According to USDA data, as of 09/25/2022, 12% of corn areas was harvested in the United States (-5% compared to last year and -2% on average for the last five years). Soybeans have been harvested on 8% of the areas (-7% and -5%), and spring wheat has been harvested on 96% of the areas. 31% of the planned areas are sown with winter wheat.

- As of 09/24/2022, the second 2021/22 corn production has been fully harvested in Brazil. From the 2022/23 wheat crop, 19% of the areas have been harvested, and yields are below expectations. Soybean was sown at 2% of the planned areas with good soil moisture.

- Pakistan is still considering offers to sell 300,000 tons of wheat. Two offers were received - 115,000 tons of wheat at a price of 398.92 USD/ton and 100,000 tons at a price of 409.92 USD/ton with delivery in October.

- South Korea has bought 68,000 tons of corn from South America at USD 330.95/ton C&F with delivery within October-November. NOFI has purchased 12,000 tons of feed barley at USD 329.55/ton C&F with delivery in January 2023.