Grain Highlights 17.05.2022

As of 15.05.2022, 49% of the planned areas for corn have been sown in the United States (78% a year earlier and 67% on average for the last five years).

- According to the USDA forecast,  sunseed stocks in Russia will be 1,118 million tons at the end of 2021/22 (0.949 in 2020/21), and 4,551 million tons in Ukraine.

- Over the period of May 1 - 9, 232,600 tons of corn, 8,680 tons of wheat, 2,570 tons of barley, 60,680 tons of sunseed, 21,710 tons of soybeans, 3,620 tons of sunseed oil were exported from Ukraine.

- 4.62 million tons of soybeans were processed in the United States in April (4.94 in March and 4.36 in April 2021).

- As of 15.05.2022, 49% of the planned areas for corn have been sown in the United States (78% a year earlier and 67% on average for the last five years). 30% of the planned areas for soybeans have also been sown (58% and 39%). 27% of the winter wheaet crops (29% and 48%) are in good and excellent condition.

- Yesterday, commodity funds in Chicago were net buyers of 20,000 contracts of corn, 5,500 contracts of soybeans and 20,500 contracts of wheat.

- According to Conab, as of 14.05.2022, the first corn crop in Brazil has been harvested on 80% of the areas (+4% for the week and 73% a year earlier). Soybeans have been harvested on 97% of the areas (+2% and 99%).

- According to estimates of the Ministry of Agriculture of China, corn areas in China will reach 42.52 million hectares in 2022/23 (-1.8% compared to 2021/22). Soybean areas increased by 18.3% to 9.93 million hectares. According to CASDE's forecast for the new season, China's corn imports will reach 18 million tons (20 in 2021/22), consumption will increase by 1% to 290.51 million tons, and ending corn stocks will fall sharply by about 40 million tons. Soybean imports are projected at 95.2 million tons (+ 2.4%).

- Pakistan has announced a tender for the purchase of 500,000 tons of wheat for delivery within June-July.