Grain Highlights 21.10.2022

The Rosario Grain Exchange lowered its forecast for the 2022/23 wheat production in Argentina by 1.5 million tons to 15 million tons (-35% compared to 2021/22 or 22.4).

- In the week of 26.10 - 01.11.2022, the export tax on Russian wheat will be 3,028 rubles/ton (2,534.3 a week earlier). The export tax on barley will be 2,524.2 rubles/ton (2,479.9) and the export tax on corn will be 1,909.1 rubles/ton (2,410.1).

- The Ministry of Agriculture of Russia has confirmed its forecast for grain exports from the country in 2022/23 of over 50 million tons.

- From the beginning of the season to 21.10.2022, 11,526 million tons of cereals were exported from Ukraine, including 2,834 million tons in October. Wheat exports were 4,363 million tons (1,322), barley exports reached 950,000 tons (176,000) and corn exports totaled 6,17 million tons (1,831).

- As of 21.10.2022, 528,000 hectares of corn (12% of the area) were harvested in Ukraine with 2.7 million tons of grain harvested at an average yield of 5.07 tons/hectare. 3.2 million hectares of sunseed (68%) have also been harvested with 7 million tons harvested at an average yield of 2.19 tons/hectare.

- In Belarus, 99,400 hectares of corn were harvested (36.5% of the area) and 705,800 tons of corn were harvested with an average yield of 7.1 tons/hectare. 1.45 million hectares were sown with winter crops (94.6% of the planned).

- Fedoil estimates rapeseed processing in the EU in September at 1.6 million tons (-13% compared to August and -3% compared to September 2021). Processed soybeans were 0.9 million tons (-11% and -2%), and processed sunseed reached 321,000 tons (+8% and -5%). Over the period of January - September, the processing of oil crops in the EU was 27.4 million tons (+2%).