From 01.06.2023 the government of Russia will adjust the export taxes on grain in order to increase income of Russian farmers.
– As of May 18, 2023, 33.2 million hectares of spring crops were sown in Russia, with a forecast of 57 million hectares in total.
– FranceAgriMer lowers its forecast for wheat exports from France to countries outside the EU by 0.1 million tons to 10.3 million tons for the season (8.8 in 2021/22). The ending wheat stocks in the country for 2022/23 will be 2.7 million tons (2.8). Barley exports will reach 3.4 million tons (+0.2) and corn exports are projected at 375,000 tons (+35,000 from the previous estimate and 590,000 in 2021/22).
– Yesterday, Chicago commodity funds were net sellers of 8,000 contracts of corn, 15,000 contracts of soybeans and 3,000 contracts of wheat.
– South Korea’s KFA has bought 68,000 tons of corn from South America or South Africa at 258.75 USD/ton + 1.25 USD/ton for unloading and delivery at the end of October.
– In June, the export tax on palm oil from Malaysia will be 8%, as in May.
– From 2014 until now, 35 new silo farms have been built in Egypt, and their total number has increased to 75. In 2014, the storage capacity was 1.2 million tons, and now it is 3.6 million tons, which allows storage of grain for consumption in 4 – 6 months.
– Over the week of May 4-11, 251,000 tons of corn and 57,000 tons of soybeans were released from Egyptian ports for import into the country. From 16.10.2022 until now, 4.7 million tons of corn and 8 million tons of soybeans have been released.
– Iraq’s strategic wheat stocks are sufficient to meet domestic demand for the next 6 months. Authorities have already purchased 1 million tons of wheat from the new crop from farmers.
