Grain Highlights 01.09.2022

On Wednesday, Algeria is believed to have bought over 100,000 tons of wheat at 364-365 USD/ton C&F and delivery within September-October.

- From 01.09.2022, the export tax on Russian sunseed oil will be 8,621.3 rubles/ton (15,987.1 in August and 8,408.7 in July). The export tax on sunseed meal will be 1,578.5 rubles/ton (2,265.4 and 1,819.1).

- Ukrainian farmers bought one-time grain storage facilities for 20 million tons, which happened with the help of the government and international aid. However, this act has depleted the stocks of such storage facilities on world markets.

- In August, 1,547 million tons of grain were exported from Ukrainian ports. The loading of 139 ships was allowed, including 77 currently there and 63 ships have already left the ports.

- 2021/22 wheat crop areas in Great Britain increased by 0.8% compared to 2020/21 to 1.67 million hectares. The harvesting campaign started early and as of 16.08.2022, 92% of the areas have been harvested. The 2021/22 rapeseed areas increased by 20% to 322,700 hectares, but remains well below the previous year's 712,600 hectares. Areas with spring barley will be 410,000 hectares (-13%), and winter barley areas are projected at 372,000 hectares (+7.7%).

- During the week of August 18-24, Argentine farmers sold 1.41 million tons of corn from the 2021/22 crop (1.11 weeks earlier). In total, farmers sold 38.7 million tons of corn from this crop, which is below last year's level. Corn sales from the 2022/23 crop during the week were 223,500 tons (313,700) and total sales of the 2022/23 crop totaled 4.1 million tons (6.1). Sales of soybeans of the 2021/22 crop for the week were 22,700 tons and 1.1 million tons of the 2022/23 crop, for a total of 28.5 million tons for the old crop and 1.7 million tons for the new crop. Sunseed sales were 2.6 million tons (2.5) and 40,200 tons (179,400).

- According to various analysts, the wheat production in Australia will reach 34-36 million tons in 2022/23. In Western Australia, which is the main producer, the production will be 10.5 - 13 million tons. The lowest forecast was given by the Australian Bureau of Agricultural and Resources Economics – 30.3 million tons (36.3 in 2021/22), and the highest by IKON Commodities – 35.8 million tons (39). In many places in the productive areas it rains, which lowers the quality of the grain. The export of wheat in the new season will reach 26-27 million tons. Over the past week, wheat prices in Australia have remained stable with a downward trend, with volumes traded steadily decreasing.

- The authorities in Egypt have raised the purchase price of wheat from local farmers by 15% compared to the previous year. The government bought 4.2 million tons of wheat from them against a planned 6 million tons, but the result is above that of 2021.