Import demand for soybeans in China may remain weak until the end of April. In April, imports will reach 8 million tons (-20% compared to previous expectations) and 9 million tons are expected to be imported in May (-10%).
– Over the week of April 3-9, 565,000 tons of wheat were exported from the Russian port of Novorossiysk (+22% compared to the previous week), including 147,000 tons for Turkey, 91,000 tons for Iran and 72,000 tons for Saudi Arabia .
– From the beginning of the season to 10.04.2023, 38,824 million tons of grain were exported from Ukraine, including 848,000 tons in April. Wheat exports reached 13,335 million tons (337,000), barley exports were 2,309 million tons (33,000) and corn exports reached 22,858 million tons (476,000).
– According to data from AgRural in Brazil, 82% of the 2022/23 soybean crop areas have been harvested (+6% for the last week and 84% a year earlier).
– According to data from the Buenos Aires Grain Exchange, as of 04/05/2023, 10% of the corn areas in Argentina have been harvested (+3% for the week, 17% a year earlier, 20% on average for the last five years). 48% of crops are in good and excellent condition (76% in 2022). The harvesting campaign of sunseed was carried out on 85% of the areas (94% a year earlier and 93% on average for the last five years). The harvesting campaign of soybeans has now begun, and 34% of the crops are in good to excellent condition (69% a year earlier).
– Import demand for soybeans in China may remain weak until the end of April. In April, imports will reach 8 million tons (-20% compared to previous expectations) and 9 million tons are expected to be imported in May (-10%). Over the January-February period, imports reached 16.17 million tons (+16% compared to the previous year).
– In the coming months, Pakistan may allow imports of GM soybeans. The country annually imports 2.5 million tons of soybeans to meet the needs of poultry farmers.
– According to FAS USDA forecast, the corn production in Turkey will reach 7.7 million tons in 2023/24 (+0.9 compared to 2022/23), wheat production will be 17.25 million tons (no change) and barley production is estimated at 6 million tons (-1.4). Wheat imports will reach 10 million tons (minimum drop), barley imports are expected at 1.8 million tons (1.6) and corn imports are projected at 2.1 million tons (2.4). In order to contain the growth of prices, the application of zero import tax on the import of grain has been extended.
– According to the FAS USDA forecast, the import of wheat into Tunisia will be 2.2 million tons in 2023/24 (1.8 in 2022/23), and barley imports are expected at 0.9 million tons (0.65). The wheat production in the new season will be 0.8 million tons (1.23), and domestic consumption is projected at 3 million tons.
