Grain Highlights 24.01.2023

According to data from Oil World, over the period of October – December 2022, soybean processing in the world was 79.5 million tons (-1.2 compared to the previous year).

– During the week of January 16-22, 482,000 tons of grain were exported from the Russian port of Novorossiysk (445,000 tons a week earlier), including wheat exports of 456,000 tons. 131,000 tons of wheat was delivered to Egypt, 72,000 tons to Saudi Arabia and 68,000 tons to Pakistan.

– According to data from APC – Inform, 3.1 million tons of corn were exported from Ukraine in December 2022 (2.5 million tons in November and 4.9 in December 2021), which is the highest level since the beginning of the war. The biggest customers were China with 839,400 tons, Spain with 485,900 tons and Romania with 417,600 tons.

– Romanian port operator Socep has started the construction of a large grain export terminal in the port of Constanta with an annual capacity of 650,000 tons. In the first stage of construction, it will be possible to load a ship with 800 tons/hour, and in the second with 1,600 tons/hour.

– In their January report, Agriculture and Agri-Food Canada presented their first forecast for wheat production in Canada for the 2023/24 crop – 34.3 million tons (+1.5% compared to 2022/24). Domestic consumption of wheat will be 9.5 million tons (+0.5 million tons), wheat exports are estimated at 24 million tons (+0.1) and ending wheat stocks will be 5.7 million tons (+1).

– According to ABS data, Australian canola exports reached 829,700 tons in November (39,900 in October and 482,600 in November 2021). The biggest customers were Germany with 257,600 tons, France with 185,500 tons and Belgium with 125,600 tons. Throughout 2022/23, Australian canola exports will exceed 6 million tons with a production of 7.6 million tons and domestic consumption of around 1 million tons.

– According to a forecast of the Solvent Extractors Association, over the period of April – December 2022/23, 2.82 million tons of oil meal were exported from India (+60% compared to 2021/22). In December alone, exports were 433,430 tons (170,870). The export of rapeseed meal was 1.67 million tons (1.24).

– According to data from AmSpec Agri Malaysia, in the first 20 days of January, palm oil exports from Malaysia reached 566,500 tons (921,800 for the same period in December).

– According to data from Oil World, over the period of October – December 2022, soybean processing in the world was 79.5 million tons (-1.2 compared to the previous year). 15.7 million tons of soybeans were processed in the United States (15.9), 24.5 million tons in China (24.8), 8.9 million tons in Argentina (9.2) and 11.8 million tons in Brazil (11.9). In all of 2022 soybean processing totalled 317.7 million tons (-1.5), which is an exception, because in the last 10 years there has always been an increase in the indicator.

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