Grain Highlights 26.04.2022

Turkey will hold a tender for the purchase of 18,000 tons of sunseed oil with delivery within May 16th - June 16th.

- According to FEDIOL's forecast, 3.3 million tons of oilseeds will be processed in the EU in May (+5% compared to April and -5% compared to May 2021). In May, 1.4 million tons of soybeans (+19% and +10%), 1.5 million tons of rapeseed (-2% and -16%), 452,000 tons of sunseed (-7% and no change compared to May 2021) will be processed. The workload of processors will reach 89% (86% and 91%).

- Yesterday, commodity funds in Chicago were net buyers of 6,500 corn contracts and net sellers of 9,000 soybean contracts and 4,000 wheat contracts.

- According to USDA data, as of April 24, 2022, 13% of the areas planned for spring wheat in the United States were sown (+5% for the week and 27% last year). 7% of the planned areas were sown with corn (16% last year) and 3% with soybeans (7% and 5%). 27% of the winter wheat crops are in good and excellent condition (-3% for the week and 49% in 2021).

- The authorities in Brazil plan to increase wheat production in the country to 23 million tons with an annual consumption of 12 million tons. Currently, the country produces 7 million tons of wheat.

- According to Conab data, as of April 24, 2022, 92% of the areas in Brazil have been harvested with soybeans (+5% for the week and 92% a year earlier). The first corn crop has been harvested on 66% of the areas (+6% per week).

- Meera International will ship the first 55,000 tons of Indian wheat to Egypt.