Grain Highlights 15.05.2023

15 May, 2023
Grain Highlights 15.05.2023
According to Rusagrotrans' forecast, a record 4.4 million tons will be exported from Russia in May (4.1 in the previous estimate).

- According to Rusagrotrans' forecast, a record 4.4 million tons will be exported from Russia in May (4.1 in the previous estimate). The previous best was achieved in May 2018, when 3.2 million tons were exported. Over the period of May 1-11, exports reached 1.6 million tons.

- In 2022/23, soybean exports from Ukraine will reach the highest level for the last five years – 2.66 million tons (+91% compared to 2021/22). During the first 8 months of the season, the main buyers were the EU with a share of 48% and Turkey with 37%. In 2022/23, the soybean production was 4 million tons, and in 2023/24 it is expected to reach 4.2 million tons.

- From the beginning of the season to 15.05.2023, 43,598 million tons of grain were exported from Ukraine (46,337 a year earlier), including 1.712 million tons in May (468,000). 14.98 million tons of wheat (582,000), 2.546 million tons of barley (81,000) and 25.744 million tons of corn (1,046) were exported.

- On Friday, Chicago commodity funds were net sellers of 4,000 contracts of corn and 10,000 contracts of soybeans and net buyers of 7,000 contracts of wheat.

- According to USDA data, during the week of 28.04 - 04.05.2023, export sales of wheat from the United States were the lowest since the beginning of the season 26,260 tons (-88% compared to the previous week), and since the beginning of the season they totalled 18.9 million tons. The biggest customers for the season are Mexico with 3.27 million tons, Japan with 2.25 million tons, the Philippines with 2.23 million tons, South Korea with 1.33 million tons and China with 1.09 million tons. Over the week, exports reached 204,000 tons.

- According to data from the Buenos Aires Grain Exchange, as of 11/05/2023, 21% of the corn areas in Argentina have been harvested (-1% for the week and 32% on average for the last five years). Soybeans have been harvested on 52% of the areas (+16% and 74%).

- Over the period of 01.01 – 10.05.2023, 3.67 million tons of wheat were delivered to Egypt, including 3.23 million tons from Russia, 274,300 tons from Ukraine, 59,500 tons from the United States, 53,400 tons from Romania and 51,600 tons from Australia.