AgRural predicts a second corn production in Brazil of 102.9 million tons (+5 compared to the May forecast).
– In May, the consumption of corn for industrial needs in the United States reached 12.55 million tons (+6% compared to April and -2% compared to May 2022). The share of corn consumption for bioethanol is 91.6% or 11.28 million tons (-6% and -2%).
– According to the USDA estimate, as of 06/01/2023 (the beginning of the new season), wheat stocks in the USA reached 15.8 million tons (-17% compared to the previous year). Corn stocks reached 104.3 million tons (-6%), and soybean stocks were 21.7 million tons (-18%).
– According to USDA data, as of 07/02/2023, 37% of the areas were harvested with winter wheat in the United States (+13% for the week and 46% on average for the last five years). 48% of spring wheat crops are in good and excellent condition (-2%, 66% a year earlier and 62% on average for the last five years), as well as 51% of corn crops (+1%, 64% and 66%) and 50% of the soybean crops (-1%, 63% and 63%).
– AgRural predicts a second corn production in Brazil of 102.9 million tons (+5 compared to the May forecast). As of 29.06.2023, 17% of the areas have been harvested (+8% for the week and -31% compared to the previous year). StoneX raised its forecast for the second production to 105.2 million tons (102.9), which is about 75% of the total production.
– According to the forecast of the Ministry of Agriculture of Afghanistan, the wheat production in the country will reach 5 million tons in 2023 (+1 compared to the previous year). The annual consumption of wheat in Afghanistan reaches 6.5 – 7.5 million tons.
