Egypt’s state company GASC has purchased 79,000 tons of soybean and sunseed oils. 27,000 tons of sunseed oil have been bought at a price of 1,170 USD/ton C&F.
– In March, the export tax on Russian sunseed oil will be 1,068.1 rubles/ton (0 in the last five months). The export tax on sunseed meal will be 3,357.2 rubles/ton (2,200.7 in February).
– Over the week of March 01 – 08, the export tax on wheat from Russia will be 5,275.2 rubles/ton (5,177.2 a week earlier), the export tax on barley will be 3,872.3 rubles/ton (3,717) and the export tax on corn will be 2,264.6 rubles/ton (2,199.7).
– The European Commission has proposed to extend by one year the period of duty-free import of Ukrainian products into the EU.
– As of 02/20/2023, 95% of soft wheat crops in France are in good and excellent condition (+2% for the week and 93% a year earlier) according to FranceAgriMer data. Despite the low rainfall in February, soil moisture is sufficient for good crop development at this stage. 92% of durum wheat crops and 94% of winter barley are in good and excellent condition.
– The European Commission forecasts exports of common wheat from the EU in 2022/23 of 32 million tons (34 in the interim estimate and 29.3 in 2021/22). In recent months, the pace of export has been taking into account the great competition from the Black Sea region. Ending wheat stocks in the EU will be 17.1 million tons (15.4 in the previous estimate), which is the highest level for the last four years.
– Analysts at Refinitiv Commodities Research have lowered their forecast for Argentina’s 2022/23 corn production by 1% from the previous estimate to 43.4 million tons. The estimate for the soybean production was lowered by 2% to 39.5 million tons. As of February 15, 2023, farmers in Argentina had sold 35.9 million tons of the 2021/22 soybean crop (39.2 a year earlier) and 3.7 million tons of the 2022/23 crop (7.8). 46.3 million tons (48.5) were sold from the 2021/22 corn crop, and 7.8 million tons (15.4) from the 2022/23 crop.
– Over the February-March period, China will increase soybean purchases from the US given the delayed harvesting campaing of soybeans from Brazil despite higher US prices. The Chinese company Sinograin has bought five carloads of soybeans from the United States with delivery within February-March. Brazil’s harvesting campaing of soybeans is three weeks behind normal. During the period February 1 – 13, soybean exports from Brazil were 1.3 million tons (-22.6% compared to the previous year). In mid-March, exports from Brazil will increase and are expected to peak in June. In 2023 soybean exports from Brazil are projected at 95 – 96 million tons (+4.5+6% more than 2022).
– Egypt’s state company GASC has purchased 79,000 tons of soybean and sunseed oils. 27,000 tons of sunseed oil have been bought at a price of 1,170 USD/ton C&F. 52,000 tons of soyoil have been purchased at 1,325 USD/ton C&F. Deliveries will be made between April 1 and 20.
– Iraq has purchased 250,000 tonnes of milling wheat from Australia at 428 USD/ton C&F.
– Algeria has bought 40,000 tons of corn from Argentina at 342 – 346 USD/ton C&F and delivery in April.
