Soybean&Corn Advisor Inc lowered its forecast for the 2022/23 soybean production in Argentina by 3 million tons to 28 million tons (-36% compared to the previous season).
– Yesterday Chicago commodity funds were net sellers of 3,500 contracts of corn and 8,000 contracts of soybeans and net buyers of 1,500 contracts of wheat.
– In January, 808,100 tons of durum wheat were exported from Canada, which is a record achievement. The main customers were Algeria with 276,900 tons and Tunisia with 108,300 tons.
– As of March 1, 2023, grain stocks in Kazakhstan were 12.73 million tons (13.9 as of February 1, 2023). Wheat stocks were 10.49 million tons.
– According to Datagro data, as of 03/03/2023, Brazilian farmers have sold 34% of their 2022/23 soybean crop (27% at the beginning of February), which is 50.9 million tons. A year earlier, sales were 59.6 million tons (46%). The 2022/23 production is expected to reach 152.2 million tons.
– Soybean&Corn Advisor Inc lowered its forecast for the 2022/23 soybean production in Argentina by 3 million tons to 28 million tons (-36% compared to the previous season). The corn production is now projected at 37 million tons (-3 and -37%).
– According to CNGOIC data, 1.47 million tons of soybeans were processed in China during the week ending March 9, 2023 (-11% compared to last week), which is also below last year’s level. As of 03/09/2023, soybean stocks in China were 3.7 million tons (unchanged from last week and +26% compared to last year), soymeal stocks were 640,000 tons (+2% and +100) and soyoil stocks were 630,000 tons (-3% and -15%).
– In January, the export of feed barley from Australia was 417,200 tons (1.06 million tons in December), including 115,200 tons for Saudi Arabia, 91,300 tons for Jordan and 56,300 tons for the Philippines.
– Jordan has bought 60,000 tons of durum milling wheat at 309.75 USD/tonne C&F and delivery in early August.
– Algeria has bought milling wheat with prices of 312-319 USD/ton C&F and delivery within April-May.
– On 14.03.2023, Tunisia held a tender for the purchase of 234,000 tons of wheat.
