Grain Highlights 19.12.2022

19 Dec, 2022
Grain Highlights 19.12.2022
According to a forecast by Strategie Grains, the soft wheat production in the EU will reach 128.7 million tons in 2023(125.5 in 2021/22). Corn production is projected at 63.7 million tons (50.5) and EU barley production is estimated at 52.5 million tons (51.3).

- During the week of December 12-18, 506,300 tons of grain were exported from the Russian port of Novorossiysk, including wheat exports of 465,400 tons and barley exports of 40,900 tons. The largest customers for wheat are Egypt with 167,500 tons, Pakistan with 66,000 tons, Turkey with 63,500 tons and Saudi Arabia with 60,200 tons. Barley was only exported to Iran.

- The Government of Kazakhstan will apply a sunseed export taxof 20%, but not less than 100 EUR/ton.

- On Friday, Chicago commodity funds were net sellers of 1,000 contracts of corn and 1,500 contracts of wheat and net buyers of 3,500 contracts of soybeans.

- In their December report, analysts from the Ministry of Agriculture of Canada lowered their forecast for the wheat productionin the country by 0.9 million tons to 33.8 million tons (22.3 in the previous season). Domestic consumption of wheat will be 8.9 million tons (-0.1 and -0.7 compared to 2021/22) and wheat exports are expected at 23.7 million tons (-0.2 and +8.6). Ending wheat stocks are estimated at 5 million tons (-1 and + 1.3). Barley production will be 10 million tons (+0.6 and +3), the estimate for domestic barley consumption remains unchanged at 6 million tons (+1.2). Barley exports are expected at 3.7 million tons (+0.2 and +1.1), and ending barley stocks at 0.9 million tons (+0.3 and +0.4). The corn production will reach 14.5 million tons (-0.4 and +0.5). The canola production is estimated at 18.2 million tons (-0.9 and +4.4) and canola exports are projected at 8.6 million tons (-0.7 and +3.3). The estimate for the soybean production is unchanged at 6.5 million tons (4.4).

- In November, 740,00 tons of corn were imported into China, according to data from the country's customs service, and since the beginning of the year corn imports totaled 19.8 million tons, which is 27% less than the previous year. During the month, wheat supplies were 1 million tons, and since the beginning of the year they reach 8.9 million tons (+1%). Barley imports in November were 530,000 tons, and since the beginning of the year they amount to 5.3 million tons (-54%). Rice imports in November reached 330,000 tons, and since the beginning of the year total rice imports are 5.8 million tons (+32%). Sorghum imports were 500,000 tons in Nomveber and total sorghum imports since the beginning of the year reach 10 million tons (+15%).

- According to ABS data, 42,900 tons of canola were exported from Australia in October (-75% compared to September – 170,900). 27,800 tons of canola were exported to Japan.

- Grain production in Western Australia will reach a record 24.747 million tons (previous record 2021/22 - 24 million tons). The wheat production will be 13 million tons, barley production 6.25 million tons and rapeseed production is projected at 4.24 million tons.

- As of 01.01.2023, wheat stocks in the state warehouses of India will be 15.9 million tons, while the necessary consumption until the end of the season will be 13.8 million tons. Now the stocks are 18.2 million tons.

- The European Investment Bank grants a 220 million euro loan to Tunisia. Of these, 150 million euros are for dealing with the food crisis. A tender has been announced for the purchase of 100,00 tons of durum wheat with delivery within 10.01 - 25.02.2023.