Grain Highlights 01.11.2022

In October, wheat exports from Russia will reach 4.7 million tons, which is a record achievement for the month. Exports in the previous week are estimated at 1.3 million tons.

– In 2022, the area with winter cereals in Russia will reach 18.4 million hectares against the plan of 19 million hectares. So far, 16.3 million hectares have been sown.

– Over the week of October 24-30, 341,300 tons of grain were exported from the Russian port of Novorossiysk, including 254,500 tons of wheat, 59,300 tons of barley, 27,600 tons of peas. Wheat exports reached 66,900 tons to Sudan, 53,200 tons to Yemen, 51,000 tons to Oman, 48,600 tons to Iran and 34,800 tons to Turkey.

– From the beginning of 2022/23 to 31.10.2022, 12.913 million tons of grain were exported from Ukraine (19.41 in 2021/22), including 4,221 million tons in October (5,047). Wheat exports were 4,936 million tons (12,371), barley exports were 1,087 million tons (4,475) and corn exports were 6,843 million tons (2,315).

– On Sunday, Turkey announced that after Russia’s exit from the grain deal, ships leaving Ukrainian ports will not be accepted for inspection. Russian exporters are ready to export grain outside the Ukrainian grain deal. It happened that paradoxical and absurd statements, requests, demands, statements were made by Russia and Turkey. Russian warships would guard merchant vessels leaving and entering Ukrainian ports.After the drone attacks in the Russian port of Sevastopol, will a Russian ship be able to roam freely in the Black Sea? Everything has become very absurd, and in the end it seems that everyone will put away their weapons and mind their own business.

– According to the forecast of the European Commission in 2022/23, the rapeseed production in the EU is projected to reach 19.6 million tons (+0.3 compared to the previous estimate and +2.5 compared to 2021/22). Domestic rapeseed consumption is expected at 23.9 million tons (+0.5 and 22.2), rapeseed imports are estimated at 4.7 million tons (+0.2 and -0.9), and ending rapeseed stocks will reach 0.5 million tons (unchanged). Sunseed production will be 10 million tons (-0.2 and +0.3), domestic sunseed consumption is projected at 10.9 million tons (+0.2 and unchanged). Sunseed imports are expected at 1.2 million tons (+0.4 and 1.1), and ending sunseed stocks are estimated at 0.9 million tons.

– On Friday, Chicago commodity funds were net sellers of 1,000 contracts of corn and 3,000 contracts of wheat and net buyers of 2,000 contracts of soybeans.

– In 2022/23, the soybean production in Paraguay is expected to reach 10 million tons (4.2 in 2021/22). Farmers have already sold 16% of the new crop (30% a year earlier).

– Pakistan has purchased 385,000 tons of wheat (announced tender for 500,000 tons) at a price of 373 USD/ton C&F and delivery within 13.11 – 10.01.2023.

– Egypt’s wheat stocks are sufficient to meet domestic consumption for the next 5.1 months, and oil stocks are sufficient for 5.3 months.

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