According to a Rusagrotrans forecast, the wheat production in Russia will reach 83.5 million tons in 2023/24 (+1 compared to the previous estimate). At the end of March, the forecast was increased by 1.5 million tons.
– In May, the export tax on Russian sunseed oil will be 1,122.2 rubles/ton (1,398.9 in April).
– MARS forecast an average yield of cereals in the EU in 2023/24 of 5.37 tons/hectare (5.23 on average for the last five years), average common wheat yield of 5.96 tons/hectare (6 in the March estimate and 5.8 on average for the last five years), average durum wheat yield of 3.5 tons/hectare (3.5 and 3.5), average spring barley yield of 4 tons/hectare (4.3 and 4.2), average winter barley yield of 5.9 tons/hectare (5.9 and 5.8) and average rapeseed yield of 3.3 tons/hectare (3.3 and 3.1).
– As of April 23, 2023, 14% of the planned corn areas (+3% compared to the average level for the last five years) have been sown in the United States, as well 9% of the planned soybean areas (+5%) and 5% of the planned spring wheat areas (7%). 41% of the winter wheat crops are in bad and very bad condition (39% a week earlier and 39% a year earlier).
– Chicago commodity funds were net sellers of 6,000 contracts of corn, 4,000 contracts of soybeans and 5,000 contracts of wheat yesterday.
– In their April report, the AAFC forecast wheat exports from Canada in 2022/23 in the amount of 24.4 million tons (+0.1 compared to the previous report and 15 in 2021/22). Ending wheat stocks are projected to reach 4.3 million tonnes (3.7 in 2021/22). Corn exports are expected at 1.9 million tons (+0.1 and +0.2) and canola exports are predicted at 8.4 million tons (+0.2 and +3.1).
– According to Safras&Mercado, soybean exports from Brazil will reach 94 million tons in 2023 (78.73 in 2022). Soybean supply in Brazil will be 158.72 million tons, soybean consumption and soybean exports are projected at 150.5 million tons and ending soybean stocks will reach 8.22 million tons (3.53). Soybean processing in Brazil will be 53 million tons (50.89), soymeal processing will be 40.82 million tons (+5%) and soyoil processing is expected to reach 10.8 million tons (+9%). Soymeal exports are projected at 22 million tons (+8%), domestic consumption is expected at 19 million tons (+1%) and ending soymeal stocks will be 1.38 million tons (-11%). Soyoil exports will be 2 million tons (-23%), domestic consumption is predicted at 9 million tons (+25%) and ending soyoil stocks are estimated at 530,000 tons (-25%).
– In March, soybean imports in Argentina reached a record 1.3 million tons, according to data from the National Statistical Institute. The main supplier is Paraguay with 1.1 million tons of soybeans, followed by Brazil with 0.2 million tons. In March 2022, imports were 386,690 tons.
– According to data from the Australian Bureau of Statistics, 3.05 million tons of wheat were exported from Australia in February (-6% compared to January and 2.69 a year earlier). The biggest customers are China, Thailand and Vietnam.
– MARS forecast a soft wheat production in Turkey in 2023/24 of 15.1 million tons (16 in 2022 and 15.9 average for the last five years), durum wheat production of 4.1 million tons (3.8 and 3.5), barley production of 7.8 million tons ( 8.1 and 7) and corn production of 8.5 million tons (8.5 and 6.7).
– The government of Turkey has increased the import tax on wheat, barley, corn, rye, oats and sorghum in the country from 0% to 130% with effect from 01.05.2023.
