Through direct negotiations, Egypt has purchased 240,000 tons of Russian wheat at a price of 368 USD/ton C&F, which is 8% lower than the last purchase in July.
Given the severe drought, MARS forecast an average corn yield in the EU in 2022 of 6.63 tons/hectare (7.25 in the previous estimate, -16% compared to 2021 and -16% compared to the five-year average).
As of August 18, 2022, 6.1 million hectares of grain crops were harvested in Ukraine (55% of the area), 23.4 million tons of grain were harvested with an average yield of 3.82 tons/hectare.
The Ministry of Agriculture of India raised its forecast for the wheat production in the country from 106.41 million tons to 106.84 million tons (109.59 last season).
According to data from the European Commission, 3.57 million tons of wheat were exported from the EU over the period of 01.07 - 14.08.2022 (3.14 a year earlier).
IKAR expects a grain production in Russia in 2022 of 145 million tons, which is a record for the country. The wheat production is projected to reach 95 million tons.
