Grain Highlights 21.02.2023

Rusagrotrans has lowered its forecast for the grain production in Russia in 2023 to 125.4 million tons (127 in the previous estimate), including wheat production of 79.7 million tons (81.5).

- Rusagrotrans again lowers its forecast for the export of wheat from Russia in February to 3.55 million tons (3.8 the previous estimate), since 1.55 million tons of grain have been processed since the beginning of the month.

- As of 13/02/2023, 93% of winter wheat crops in France are in good and excellent condition (+1% for the week and 95% a year earlier). 93% of durum wheat crops (89% in 2022) and 92% of the winter barley crops (94%) are also in good and excellent condition. 26% of the planned areas were sown with spring barley (no change for the week and 58% a year earlier).

- According to Conab data, as of February 19, 2023, 14% of the planned areas were harvested with first corn crop in Brazil (+3% for the week and 20% a year earlier). 33% of the areas are sown with second corn crop (+13% for the week and 46%).

- The Government of India has decided to sell another 2 million tons of wheat from the state reserve to stabilize the domestic wheat price.

- Egypt has announced a tender for the purchase of 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery within April 1-20. A tender will also be held for the purchase of oils from the domestic market.