Grain Highlights 02.09.2022

Egypt's state-owned company GASC has bought 120,000 tons of Russian wheat with delivery within November 1-10 and a price of 340 USD/ton C&F.

- As of September 1, 2022, 86.9 million tons of wheat were harvested in Russia (+20.9 compared to the transitional season) with an average yield of 3.99 tons/hectare. 20.8 million tons of barley (16.4), and 4.5 million tons of corn were harvested. The total harvested grain so far is 117.9 million tons (90.9). The harvested sunseed was 76,200 tons with an average yield of 2.3 tons/hectare (1.44).

- In August, 3.65 million tons of wheat were exported from Russia. It is expected that wheat exports will reach 4.1 - 4.3 million tons in September according to Rusagrotrans forecast.

- At the beginning of September, 25.8 million tons of grain were harvested in Ukraine from 6.693 million hectares (60% of the area) with an average yield of 3.85 tons/hectare. 19.2 million tons of wheat (99% of the area), 5.5 million tons of barley (100%), 2 thousand tons of corn (0.02%) have also been harvested. 81,700 tons of sunseed were harvested at an average yield of 1.18 tons/hectare.

- As of September 2, 2022, 4.159 million tons of grain were exported from Ukraine (9.14 million tons a year earlier), including 195,000 tons in September (514,000). 1.187 million tons of wheat, 361,000 tons of barley, 2.593 million tons of corn were exported. The government plans to export 5 million tons of grain in September. The government expects exports of grain and oil crops in 2022/23 within 65-70 million tons.

- According to FranceAgriMer data, as of 29/08/2022, 1% of the corn areas were harvested in France. 42% of the crops are in good and excellent condition (91% a year earlier).

- According to an announcement from the World Trade Organization, China and Canada have decided to end the disputes regarding the canola trade between the two countries.

- According to data from Societe Generale de Surveillance, 1,309 million tons of palm oil were exported from Malaysia in August (1,306 a year earlier). The EU sent 342,600 tons of oil (244,400), China exproted 157,200 tons (81,500), Pakistan sent 17,900 tons (10,000), India sent 210,900 tons (270,100) and the United States exported 26,400 tons (36,000).

- The authorities in Morocco have sharply increased the cost of importing grain, including wheat given the drought in the country. 3.8 million tons of wheat are ready to imported.

- Egypt's state-owned company GASC has bought 120,000 tons of Russian wheat with delivery within November 1-10 and a price of 340 USD/ton C&F. The previous purchase was made on 26.08.2022 and it was 240,000 tons again of Russian wheat with a price of 368 USD/ton and delivery 20.09 – 11.11.2022. Since the start of the season, Egypt has purchased 2.85 million tons of wheat from the 2022/23 crop, which is twice as much as the previous year.