Grain Highlights 27.10.2022

27 Oct, 2022
Grain Highlights 27.10.2022
During the last days, precipitation has fallen in Argentina in the range of 30-100 l/sq.m. Good amounts of rain fell in the province of Buenos Aires, the southeastern parts of Córdoba and Santa Fe.

- According to a forecast by Refinitiv Commodities Research, soft wheat production in the EU will be 135.2 million tons in 2023/24, and durum wheat production is projected at 8.5 million tons. The rapeseed production is estimated at 19.7 million tons.

- Over the period of 01.07 - 23.10.2022, 11.15 million tons of common wheat were exported from the EU (10.96 in 2021/22). The largest exporters were France with 4.3 million tons, Romania with 1.58 million tons, Germany with 1.32 million tons, Poland with 971,000 tons and Latvia with 910,000 tons.

- Yesterday, Chicago commodity funds were net sellers of 1,000 corn contracts, neutral on soybeans and net buyers of 2,000 wheat contracts.

- According to Statistics Canada canola processing forecast in Canada was 793,880 tons in September (778,000 in September 2021).

- During the last days, precipitation has fallen in Argentina in the range of 30-100 l/sq.m. Good amounts of rain fell in the province of Buenos Aires, the southeastern parts of Córdoba and Santa Fe. Thus, the 2022/23 soybean production is expected to reach 48 million tons (42.2 in 2021/22).

- According to data from Oil World, since the beginning of the current season, imports of the main cereals (wheat, corn, sorghum, barley and rice) in China reached 11.55 million tons (18.41 in 2021/22). In September, deliveries were 3.67 million tons (6.7 a year earlier), including 1.53 million tons of corn (3.53), 0.92 million tons of sorghum (0.65), 0.36 million tons of wheat (0.64), 0.36 million tons of barley (1.51) and 0.49 million tons of rice (0.38). In September, grain deliveries from the United States were 1.89 million tons (3.83), and since the beginning of the season (July - September) they totaled 6.18 million tons (10.95), including 4.82 million tons of corn.

- According to the SES forecast, corn production in South Africa will reach 15,329 million tons in 2022 (16,315 in 2021).

- Egypt's state company GASC has purchased 14,000 tons of soyoil at a price of 1,587 USD/ton C&F and delivery until the end of the year.