The European Parliament has extended duty-free trade with Ukraine for another year from 06.06.2023.
– Chicago commodity funds were net sellers of 2,500 contracts of corn, 2,000 contracts of soybeans and 2,000 contracts of wheat yesterday.
– According to USDA data, as of 05/07/2023, the sowing campaign of corn in the United States has been carried out on 49% of the planned areas (23% a week earlier, 21% a year earlier and 42% on average for the last five years). Soybeans have been sown at 35% of the planned areas (+15%, 11% and 21%). Spring wheat has been sown on 24% of the areas (+12%), sorghum was sown on 24% of the planned areas (+3%). Barley has been sown on 38% of planned areas (+19%). 29% (+1%) of winter wheat crops are in good and excellent condition.
– Over the week of April 21 – 27, export sales of soybeans from the United States were 289,700 tons (-7% compared to the previous week), and since the beginning of the season they totalled 50.7 million tons (-13%). 47.07 million tons of soybeans have been exported since the beginning of the season, including 30.93 million tons for China, 3.56 million tons for Mexico, 1.8 million tons for Japan, 1.49 million tons for Germany and 1.15 million tons for Indonesia. The export of soymeal since the beginning of the season was 9.7 million tons (-1%), and soyoil exports were 0.1 million tons (-82%). Sales of soybeans from the 2023/24 crop were 1.84 million tons (-84%), and soymeal sales reached 0.3 million tons (-12%).
– According to government data, Egypt now has wheat stocks to meet domestic demand for the next 4.1 months (2.6 months in early May). The indicator has been steadily increasing in recent days in connection with the purchase of new wheat crop from local farmers. As of 07.05.2023, 1.2 million tons of wheat from the new crop have been purchased from farmers, and the campaign will continue until September.
– In May soybean exports from Brazil will reach 12.1 million tons according to Anec’s forecast (-1.8 compared to May 2022). Over the period of January – May, soybean exports will be 48.93 million tons (45.19). The largest buyer of soybeans in the January-April period was China with a share of 73%. Soymeal exports in May are expected at 2.2 million tons (1.7 in April and 1.9 in May 2022). The export of corn in May is projected to reach 324,100 tons (166,200 and 1.1 million tons), and wheat exports are estimated at 70,200 tons (166,600 and 109,100).
– Tunisia bought 75,000 tons of barley at 254 – 257 USD/ton C&F and durum wheat at 379.19 – 387.29 USD/ton C&F. Deliveries will be made within June – July.
– Algeria has announced a tender for the purchase of at least 50,000 tons of soft wheat of any origin and delivery within June-July.
