Grain Highlights 03.01.2023

In 2023, global biodiesel production will reach 55.85 million tons (51.3 in 2022), according to Oil World's forecast.

- The Ministry of Agriculture of Ukraine predicts that in 2023 the areas with oil crops (sunseed, soybeans and rapeseed) in the country will grow. This will be a compensation for the smaller areas with wheat and corn.

- During the first two days of the year, the export of grain from Ukraine was only 15,000 tons of corn. Since the beginning of the season, corn exports have reached 12,639 million tons.

- According to operational data from Ukraine, the export of sunseed meal from Ukraine reached 287,000 tons in November, which is 21% more than in October. Over the period September-November 2022/23, exports were 994,000 tons, which is almost at the level of last year. The main recipient of Ukrainian sunseedmeal is China with a share of 52% (-18%).

- In 2022, Brazil's trade balance has a positive balance of 62.3 billion USD. The total export of goods is 335 billion USD (+19.3%), including soybean exports of 46.7 billion USD (+20.8%).

- In 2023, global biodiesel production will reach 55.85 million tons (51.3 in 2022), according to Oil World's forecast. Production in the United States is projected at reach 11.1 million tons (10.1) using 5-5.1 million tons of soyoil. Biodiesel production in Brazil is expected at 6.67 million tons (5.53) using 4.8-4.9 million tons of soyoil, lowering the export up to 0.5 million tons. Biodiesel production in Indonesia will be 10.2 million tons (8.9).