Grain Highlights 31.08.2022

SovEcon has once again raised its forecast for the export of wheat from Russia in 2022/23 to 43.1 million tons (+0.2 compared to the previous estimate).

– SovEcon has once again raised its forecast for the export of wheat from Russia in 2022/23 to 43.1 million tons (+0.2 compared to the previous estimate). In the previous estimate, the wheat production was estimated at 94.7 million tons (90.9).

– Over the period of August 1-29, the export of grain from Russia reached 4,732 million tons (6,145 a year earlier), including 3.892 million tons of wheat (-23.3%), 715,000 tons of barley (+41%) and 54,500 tons of corn (+26%). Since the beginning of the season, grain exports totaled 7.7 million tons (11), including wheat exports of 6.69 million tons (9.7).

– According to AHDB data, as of 23/08/2022, 98% of the areas with winter wheat have been harvested in Great Britain, the average yield fluctuates around 8.2 – 8.6 tons/hectare with protein 12 – 13%. Spring barley has been harvested on 81% of the areas and oats on 90%.

– Yesterday, Chicago commodity funds were net buyers of 12,500 contracts of corn and 13,000 contracts of wheat and net sellers of 8,500 contracts of soybeans.

– According to ANEC’s preliminary estimate, soybean exports from Brazil will reach 5.5 million tons in August (-1.5 compared to July and 5.79 in August 2021). An opinion has been expressed that it is possible to lower the forecast for August to 4.8 million tons. Over the January-August period, soybean exports from Brazil will reach 67.65 million tons (74.27 a year earlier). During the month, soymeal exports will be 1.92 million tons (2.07 and 1.28).

– South Korea has announced a tender for the purchase of 30,000 tons of non-GM soybeans with delivery within 10/30 – 12/12/2022.

– Algeria has announced a tender for the purchase of at least 50,000 tons of wheat with delivery within September-October.

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