According to ABARES forecast, the wheat production in Australia is projected to reach 28.2 million tons in 2023/24 (-28% compared to 2022/23).
– ProZerno forecasts a grain production in Ukraine in 2023/24 of 38 million tons (52.4 in 2022/23), including wheat production of 14 million tons (-26%), corn production of 21 million tons (-21%) and barley production of 2 million tons (-65%).
– Yesterday, Chicago commodity funds were net buyers of 3,000 wheat contracts and net sellers of 6,500 soybean contracts and 2,000 corn contracts.
– According to the ABARES forecast, the production of winter crops in Australia will reach 67.3 million tons in 2022/23, which is 5.3 million tons more than the December forecast and +4.1 million tons compared to 2021/22. The wheat production reached 39.2 million tons (+2.6 and 36.2) and barley production is at 14.1 million tons (+0.3). The production of oil crops is at a new record of 8.3 million tons (+1.5 compared to 2021/22).
– According to ABARES forecast, the wheat production in Australia is projected to reach 28.2 million tons in 2023/24 (-28% compared to 2022/23). Wheaet export are expected at 22.5 million tons. Barley production will reach 9.9 million tons (-30%), sorghum production is estimated at 2 million tons (-28%) and canola production is expected at 5.4 million tons (-35%).
– The South Korean company MFG has announced a tender for the purchase of 70,000 tons of feed corn from South America or South Africa within delivery within May – June.
– The pick-up in Malaysian palm oil exports will push end-April stocks of the product below 2 million tons, the lowest level since July 2022.
– In February, 949,000 tons of vegetable oils were delivered to India (-40% compared to January). Imports of sunseed oil were 114,000 tons (-69%). At the end of January, stocks of sunseed oil in the country were 230,000 tons, which is twice as much as at the end of December. According to IVPA forecast, the import of vegetable oils in India will reach 14.4 million tons in 2022/23 (+0.4), including palm oil imports of 9.2 million tons, soyoil imports of 3.2 million tons and sunseed oil imports of 2 million tons.
– With the mediation of the UN, India will deliver 20,000 tons of wheat to Afghanistan as humanitarian aid.
