The European Commission lowered its forecast for the corn production in the EU in 2022 by 5.9 million tons to 65.8 million tons, which is 7 million tons less than the production in 2021.
Lloyd's is ready to insure the export of Ukrainian grain across the Black Sea. Before the war, the insurance premium was 0.25% of the value of the cargo, but now it is 5%.
The memorandum concluded between Russia and the UN for the export of Russian wheat and fertilizers is valid for 3 years. In this regard, Russian Foreign Minister Lavrov is on a visit to African countries that are major buyers of Russian grain.
Representatives of Ukraine have signed the agreement governing the export of grain from the country with representatives of the United Nations and Turkey.
In July, non-EU wheat exports from France will reach 511,200 tons (227,000 in July 2021 and 461,000 in July 2020), which will be the highest level for this month of the year.
The EU plans to unfreeze some of the funds of top Russian banks to facilitate transactions in the global food and fertilizer trade, a draft document showed.
As of 14.07.2022, the average wheat yield in Russia reached 4.22 tons/hectare (3.41 a year earlier) and the average barley yield was 4.57 tons/hectare (3.93).
