Grain Highlights 25.07.2022

The memorandum concluded between Russia and the UN for the export of Russian wheat and fertilizers is valid for 3 years. In this regard, Russian Foreign Minister Lavrov is on a visit to African countries that are major buyers of Russian grain.

- The memorandum concluded between Russia and the UN for the export of Russian wheat and fertilizers is valid for 3 years. In this regard, Russian Foreign Minister Lavrov is on a visit to African countries that are major buyers of Russian grain. With the signed documents, Turkey will be able to buy Ukrainian grain, but at the lowest prices, and then resell it. Thus, the country will become a leading world center for grain logistics, where prices will also be formed. The authorities in Turkey are working on a project to create an international grain exchange in the country.

- In August, the export tax on Russian sunseed oil will be 15,987.1 rubles/ton (8,408.7 in July).

- Over the week of July 18-24, 156,800 tons of wheat and 3,500 tons of sunseed oil were exported from the Russian port of Novorossiysk. 127,000 tons of wheat were exported to Iran and 29,800 tons to Israel.

- The government of Ukraine expects the start of grain exports from Ukraine in the coming weeks. About 20 million tons of grain are available for export in warehouses in Ukraine. Work on exports through alternative routes continues despite the signed agreement on exports through Black Sea ports.

- Over the period of July 1 - 25, 1,082 million tons of grain were exported from Ukraine (1,787 a year earlier), including wheat exports of 222,000 tons (424,000), barley exports of 88,000 tons (453,000) and corn exports of 766,000 tons (895,000).

- The United States and Ukraine are developing an additional plan to export Ukrainian grain by road, rail and river transport in the event of Russia's refusal to fulfill its obligations under the already signed agreement.

- According to Safras&Mercado's forecast, a record 91.5 million tons of soybeans will be exported from Brazil in 2023 (77.2 in 2022). The soybean production will reach 154.53 million tons (+18%). Soybean processing in the country will be 49.5 million tons (47.9). The export of soymeal is projected to reach 18.7 million tons (+3%), and soyoil exports are expected at 1.9 million tons (-10%).

- At the tender held Pakistan for the purchase of wheat, the best offer had a price of 407.49 USD/ton C&F for 110,000 tons of wheat. At the previous tender held on 21.07.2022 for the purchase of 300,000 tons of wheat, the price was 404.86 USD/ton C&F.