Grain Highlights 06.12.2022

In November, 6.1 million tons of corn were exported from Brazil, which is a historical record for the country for November.

- According to IKAR data, the grain production in Russia will reach 153 million tons in 2022, including 101.5 million tons of wheat.

- According to data from the Ministry of Agriculture of Russia, as of December 1, 2022, 156.2 million tons of grain bunker weight were collected in the country, which is 30 million tons more than the previous season. Wheat production was 105.3 million tons and barley production reached 24.5 million tons. So far, 11.3 million tons of corn have been harvested, as well as 13.7 million tons of sunseed.

- IKAR lowered the forecast for the 2022/23 sunseed production in Russia to 15.8-16 million tons (16.3 in the previous estimate).

- The state of winter crops in Russia is good, better than last year and the five-year average.

- In November, the export of wheat from Ukraine reached 1.6 million tons (-0.4 compared to October). Exports of sunseed oil were 466,000 tons (433,000 in October), sunseed exports reached 377,000 tons (+80,000), soybean exports were 385,000 tons (+155,000) and rapeseed exports were 412,000 tons (365,000).

- In 2022, the corn production in Romania will be the lowest for the last 15 years and will be 40-50% below last year's level.

- According to Conab data, as of 12/03/2022, soybean sowing in Brazil was carried out on 91% of the planned areas (+5% for the week and 95% a year earlier). Sowing of the first soybean crop corn was carried out on 71% of the planned areas (+2% and 78%). Wheat has been harvested on 92% of the areas (+5% and 99%).

- Yesterday, Chicago commodity funds were net sellers of 4,000 contracts of corn and 7,000 contracts of wheat and net buyers of 500 contracts of soybeans.

- In November, 6.1 million tons of corn were exported from Brazil, which is a historical record for the country for November. The main buyers were Japan with 856,250 tons, Vietnam with 714,409 tons and Iran with 673,505 tons. The previous record was set in 2015 – 4.8 million tons. Since the beginning of the calendar year, exports totaled 37.2 million tons, which is also a record.

- In November, palm oil imports into India were 1.14 million tons, up 29% from October (539,600 in November 2021). In December, imports are expected to remain strong at around 1 million tons. In November, the import of soyoil was 215,000 tons (-36%), and sunseed oil imports of 160,00 tons (+10%).