Grain Highlights 30.03.2023

Brazil could supply up to 50% of Argentina's soybean consumption needs after the country's worst drought in 100 years. Argentina's total soybean imports are estimated at 10 million tons.

- The IGC predicts a wheat production in Bulgaria in 2023 of 6.3 million tons, barley production of 0.57 million tons and corn production of 3.275 million tons. The Center for Economic Research in Agriculture predicts wheat areas in Bulgaria in 2023 of 1.23 million hectares and 116,000 hectares will be sown with barley. The wheat production will be 6.4 million tons with an average yield of 5.2 tons/hectare, and barley production is estimated at 575,000 tons with an average yield of 4.95 tons/hectare.

- In February, 512,600 tons of unrefined sunseed oil were produced in Russia (-4.7% compared to January and -1.2% compared to February 2022). Over the period of January - February, production was 1.05 million tons (+3.7%).

- After Cargill, Viterra plans to stop working on the Russian grain market from the beginning of 2023/24.

- Over the period of 01.07.2022 - 29.03.2023, 37,382 million tons of grain were exported from Ukraine (44,895 a year earlier), including 5.085 million tons in March (1.38). 12,761 million tons of wheat (1,423), 2,267 million tons of barley (217,000) and 22,035 million tons of corn (3,431) were exported.

- Poland will introduce a restriction on the import and export of grain from Ukraine. It has been declared that the country will help export Ukrainian grain without it entering the domestic market.

- According to data from the consulting company CGMA, in the first two months of 2023, 5.8 million tons of agricultural crops (sorghum, soybeans, rice and others) were imported into Mexico, which is 19% more than the previous year. 3.5 million tons of corn (+22%), 938,000 tons of wheat (+13%) and 1.1 million tons of soybeans (+23%) were delivered.

- Brazil could supply up to 50% of Argentina's soybean consumption needs after the country's worst drought in 100 years. The minimum supply of soybeans is estimated at 3 million tons with the possibility of up to 5 million tons. Argentina's total soybean imports are estimated at 10 million tons.