Stratégie Grains has raised its forecast for the 2023/24 EU rapeseed production by 100,000 tons to 19.6 million tons (19.5 in 2022/23).
– Over the week of February 20-26, 337,200 tons of wheat were exported from the Russian port of Novorossiysk, including 69,200 tons for Saudi Arabia, 59,700 tons for Bangladesh and 51,200 tons for Turkey. A week earlier, wheat exports were 405,900 tons.
– Over the period of 01.07.2022 – 27.02.2023, 31.78 million tons of grain were exported from Ukraine (43.515 in 2022/23), including 4.7 million tons in February (5,045). The export of wheat was 11,237 million tons (1,508), barley exports were 2,047 million tons (229,000) and corn exports reached 18,203 million tons (2,935).
– As of February 23, 2023, 11.27 million hectares of grain areas with the 2022 crop (98% of all areas) were harvested in Ukraine. Corn has been harvested in 95% of the areas with 26.79 million tons harvested (26.53 a week earlier) at an average yield of 6.7 tons/hectare.
– In January, 295,000 tons of sunseed meal were exported from Ukraine (-35% compared to December and -53% compared to January 2022), which is the lowest level since the beginning of the season. In the first 5 months, exports decreased by 16% compared to the previous year. The largest customer during the period was China with a share of 53%, followed by the EU with 39%.
– Stratégie Grains has raised its forecast for the 2023/24 EU rapeseed production by 100,000 tons to 19.6 million tons (19.5 in 2022/23). The sunseed production is projected to reach 11.2 million tons (-0.1 and 9). The soybean production remained at the level of 3.2 million tons (+0.7 compared to the previous year).
– According to CNGOIC data, 1.82 million tons of soybeans were processed in China in the week ending 02/20/2023, which is 12% less than the previous week (1.71 a year earlier). Soybean stocks in the country were 4.19 million tons (-1 million tons for the last two weeks). Soymeal stocks were 620,000 tons (-60,000 and 370,000).
– In 2023, rapeseed areas in India are 9.8 million hectares (+7.4% compared to 2022), and the rapeseed production is expected to reach a record 12.8 million tons (10.5).
– Algeria has bought 40,000 tons of Argentine corn at 342 – 346 USD/ton C&F and delivery in April.
– Iraq has purchased 250,000 tons of milling wheat from Australia at 428 USD/ton C&F.
