Grain Highlights 25.05.2022

As of May 23, 2022, the sowing campaign of spring crops in Ukraine has been completed on 12,253 million hectares (72.4% of last season), including spring cereals areas of 5.719 million hectares (76.7%).

- 188,600 hectares (98.2%) have been sown with spring wheat in Ukraine, 124,800 hectares (98.2%) with spring barley and 4.293 million hectares with corn (78.4%). 4,111 million hectares (63.1%) have been sown with sunseed.

- Yesterday, commodity funds in Chicago were net sellers of 15,000 corn contracts and 20,000 wheat contracts and net buyers of 1,500 soybean contracts.

- According to Conab data, as of 21.05.2022, 0.2% of the areas with second corn crop have been harvested in Brazil. 87% of the crops in Parana are in good and excellent condition. There are problems with drought and frost in Sao Paulo, Minas Gerais, Mato Grosso do Sul. 84% of the areas (+4% for the week) have been harvested from the first corn crop.

- China supports the initiative for a green corridor in the export of Ukrainian grain from the country's seaports.

- The Philippines expects fertilizer deliveries from Russia. In addition to the Philippines, Indonesia, Malaysia and China have applied for more than 600,000 tons in total.

- India will allow the import of 4 million tons of soyoil and sunseed oil duty free with a delivery date of 31.03.2024. Now the duty is 5.5%. 13-15 million tons of oils are imported annually in the country.

- After the last rains in Turkey, the wheat production in the country may reach 16.5 - 17.5 million tons in 2022/23, including 3 - 3.5 million tons of durum. In 2021/22, the production was 15.5 million tons, including 2.5 million tons of durum. The barley production is projected at 6 - 6.5 million tons (4), and the corn production is expected at 6 million tons (6.5).

- Jordan has canceled a tender for the import of 120,000 tons of soft wheat of any origin. Only one offer is offered. The next tender with similar parameters will be held on 31.05.2022.

- Kenya will start importing 540,000 tons of white corn over the next three months.