Weather conditions in Ukraine create serious problems for the sowing of spring crops. Rainfall is not much in volumes, but at the same time there are no sunny days to allow the soil to dry out for the sowing process to begin.
– IKAR has lowered its forecast for the wheat production in Russia in 2023/24 by 2 million tons to 84 million tons. Wheat exports in the new season are projected at 41 million tons.
– During the week of April 17-23, 547,000 tons of grain were exported from the Russian port of Novorossiysk, including 507,000 tons of wheat (349,000 a week earlier), 25,000 tons of barley and 15,000 tons of peas. The biggest buyers of wheat were Iran with 138,000 tons, Turkey with 134,000 tons and Saudi Arabia with 61,000 tons.
– From the beginning of the season to 24.04.2023, the export of grain from Ukraine reached 40.742 million tons, including 2.766 million tons in April. 13.941 million tons of wheat (943,000), 2.428 million tons of barley (152,000), 24.049 million tons of corn (1.667) were exported.
– According to FranceAgrimer data, as of 04/17/2023, sowing campaign of corn in France has been completed on 20% of the planned areas (+8% for the week and 29% a year earlier). 93% of winter wheat crops are in good and excellent condition (94% and 91%).
– On Friday, Chicago commodity funds were net sellers of 7,000 contracts of corn, 6,500 contracts of soybeans and 4,500 contracts of wheat.
– According to a forecast of the Buenos Aires Grain Exchange, wheat areas in Argentina will reach 6.7 million hectares in 2023/24 (6.1 in 202/23). Sowing starts in the second half of May.
– According to CNGOIC data, during the week ending on 15/04/2023, soybean processing in China reached 1.59 million tons (+15% compared to the previous week and -13% compared to the previous year).
– The government of Egypt plans to buy from local farmers 4 million tons of 2023/24 wheat crop, which is 5% less than last year. USD 1.45 billion has been allocated, 615 million USD more than in 2022.
