According to data from Conab as of July 22, 2023, the second corn production in Brazil has been harvested on 48% of the areas (+9% for the week).
In June, Russia exported 176,000 tons of soybeans, 125,000 tons of flax, 14,000 tons of rapeseed, and 2,000 tons of sunseed. China was the largest customer for soybeans, purchasing 175,000 tons.
As of July 1, 2023, the grain stocks in agricultural organizations in Russia amounted to 13.045 million tons, including 9.345 million tons of wheat.
The 2023 soft wheat production in France is expected to be 24.82 million tons (+1.3% compared to the five-year average and 33.69 million tons in 2022/23).
Yesterday, Chicago commodity funds were net sellers of 13,500 corn contracts, 12,500 wheat contracts, and 4,000 soybean contracts.
According to government estimates, the corn production in South Africa for 2022/23 is projected at 16.354 million tons (compared to 15.47 million tons in 2021/22), including 8.638 million tons of white corn and 7.716 million tons of yellow corn.
According to data from Conab as of July 22, 2023, the second corn production in Brazil has been harvested on 48% of the areas (+9% for the week). The wheat harvesting campaign has also started, with 2% of the areas processed (compared to 1% at the same time last year), and 98% of the planned areas have been sown.
Anec forecasts that soybean exports from Brazil in July will be 9.1 million tons (+0.3 compared to the previous estimate), and soymeal exports will reach 2.6 million tons (compared to 2.3 million tons in June).
The government of Argentina will apply the “corn dollar” scheme, inspired by the soybean market, by offering a preferential exchange rate of 340 Argentine pesos/dollar during the period from July 24 to August 31, 2023.
According to CNGOIC data for the period of July 15 to 21, soybean processing in China reached 2.2 million tons, which is 5% more than the previous week.
Bangladesh is looking to purchase 50,000 tons of soft wheat of any origin.
Egypt’s state-owned company GASC has purchased 33,000 tons of sunseed oil at a price of 1,080 USD/ton and 11,875 tons of soyoil at a price of 1,150 USD/ton, with deliveries scheduled within August-September.
