Grain Highlights 30.11.2022

As of 29.11.2022, the export prices of Australian premium white wheat and standard white wheat have decreased to 357 USD/ton and 315 USD/ton FOB Kwinana, respectively.

- In 2022/23, the export of sunseed oil from Russia will reach a record 4 million tons. Over the period of September-October, 344,600 tons of oil were exported, and the main buyers were Turkey with 136,000 tons, China with 82,000 tons and India with 34,000 tons.

- According to data from the European Commission, as of 27.11.2022, the export of soft wheat from the EU reached 13.89 million tons (13.45 a year earlier). The biggest buyers were Algeria with 1.97 million tons, Morocco with 1.85 million tons and Egypt with 1.49 million tons. The main exporters were France with 5.65 million tons, Romania with 1.81 million tons, Germany with 1.57 million tons, Latvia with 1.19 million tons and Poland with 1.11 million tons.

- In October, it is expected that 5.877 million tons of soybeans were processed in the US (4.46 million tons in September), which is a ten-month high.

- As of 26.11.2022, 86% of the planned soybean areas in Brazil have been sown (+10% for the week and 92% a year earlier).

- As of 11/23/2022, Argentine farmers have sold 32.1 million tons of soybeans from the 2021/22 crop (35.1 a year earlier) and 2 million tons of the 2022/23 crop (3.3). 42.8 million tons of the 2021/22 corn crop (45.3) and 6.4 million tons of the new 2022/23 corn crop (10.9) have been sold. 22.9 million tons of wheat (17.2), and 2.8 million tons of sunseed (2.7) were also sold.

- As of 29.11.2022, the export prices of Australian premium white wheat and standard white wheat have decreased to 357 USD/ton and 315 USD/ton FOB Kwinana, respectively. The drop is due to the heavy rains that reduced the quality of the wheat and made it difficult to transport in the country as well.

- Malaysian authorities continue the 8% export tax on palm oil in December. The reference price will be raised to 866.50 USD/ton.

- Given the high prices of wheat in India, the good conditions for sowing and the larger areas sown, in 2023 a record wheat production will be obtained in the country. The export ban is likely to be lifted.

- According to the SES forecast, corn production in South Africa will be 5.7% lower than the previous season to 15.387 million tons in 2022/23 (16.315). The white corn production is projected at 7,790 million tons, and yellow corn production is expected at 7,597 million tons.

- Turkey bought 455,000 tons of mostly Ukrainian wheat at 329.90 – 344 USD/ton C&F and delivery within December – January.

- On 29.11.2022, Jordan canceled a tender for the purchase of 120,000 tons of milling wheat of any origin. The next tender is expected to be announced no earlier than January.