Grain Highlights 10.09.2022

The United Nations says Russian fertilizers must return to world markets to prevent a food crisis in the coming years.

– The UN says that Russian artificial fertilizers must return to world markets to prevent a food crisis in the coming years. At the same time, the President of Turkey, Erdogan, says that Putin has the right to be unhappy with the grain deal with Ukraine. So we are waiting for the return of Russian fertilizer to the world, and if this happens, fertilizer prices will probably decrease slightly. However, grain prices will go down significantly, because Ukraine will continue to export.

– The Russian government can buy up to 3 million tons of grain by the end of 2022 to replenish the state reserve.

– According to an AGPB estimate, in the new season, French farmers will reduce their fertilizer use by 20% compared to 2021/22. The cost price of French wheat is around 260 – 280 EUR/ton, which is about 100 EUR/ton above the previous season.

– Poland and Ukraine will build a 600 km oil pipeline with an annual capacity of 2 million tons.

– As of September 8, 2022, the harvesting campaign of grain was completed in Belarus. 8.145 million tons of grain were harvested.

– Yesterday, commodity funds in Chicago were net sellers of 3,250 contracts of corn and 5,000 contracts of soybeans and net buyers of 10,000 contracts of wheat.

– According to data from Oil World, palm oil exports from Indonesia reached 2.36 million tons in July (1.92 in June), but the amount is below potential. Deliveries to China were 355,000 tons (256,000). Palm oil exports reached 342,000 tons to India (190,000), 311,000 tons to Pakistan (294,000), 249,000 tons to EU (206,000), 166,000 tons to United States (57,000) and 178,000 tons to Malaysia (71,000). Since the beginning of the year, the export was 11.56 million tons (15.39), including 1.15 million tons for China (2.5) and 1.5 million tons for the EU (2.2). At the end of July, oil stocks were high enough – 8.8 – 9 million tons.

– On September 5 and 6, Argentine farmers sold 2.1 million tons of soybeans and benefited from the preferential rate for selling dollars. At the same time, China has bought several carloads of Argentine soybeans.

– In 2022, palm oil production in Malaysia may decline for the third year in a row, or at best remain unchanged from 2021 and reach 18.1 million tons. The main reason for the decline in production is the shortage of labor – the lowest labour supply since 1917.

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