According to StatsCan, the wheat production in 2023/24 in Canada is forecasted to reach 29.5 million tons (down by 14% compared to 2022/23), marking the second weakest performance in the last 8 years.
As of August 30, 2023, Russian farmers have harvested 105 million tons of grain in gross weight. The sowing of new winter crops has been carried out on 1.7 million hectares out of a planned 20 million hectares.
During the period from July 1 to August 30, 2023, Ukraine has exported 4.343 million tons of grain (compared to 3.964 million tons in 2022/23), including 2.069 million tons in August (compared to 2.264 million tons). The exports consist of 1.884 million tons of wheat (1.139 million tons in 2022/23), 473,000 tons of barley (310,000 tons), and 1.976 million tons of corn (2.498 million tons).
India will resume rice exports to Singapore. The two countries have a longstanding strategic partnership, and this is the reason for the exception. A total of 110,000 tons of rice has been requested for import.
Yesterday, Chicago commodity funds were net sellers of 8,500 wheat contracts, 6,500 soybean contracts, and 4,000 corn contracts.
According to StatsCan, the wheat production in 2023/24 in Canada is forecasted to reach 29.5 million tons (down by 14% compared to 2022/23), marking the second weakest performance in the last 8 years. The canola production is projected to reach 17.6 million tons (down by 6%, and the second weakest in the last 9 years).
According to data from Conab, during the first 7 months of 2023, Brazil’s soybean exports have reached a record 70 million tons, including 62.3 million tons to China. In July, the total soybean export was 9.7 million tons.
According to the forecast by the Buenos Aires Grain Exchange, soybean processing in Argentina reached 11.9 million tons during the first quarter of 2023/24, marking the lowest level in the past 15 years. For the first eight months of 2023, processing amounted to 27.3 million tons (compared to 28.8 million tons). During the period, soybean imports into Argentina reached 7.2 million tons, and the total for 2023 is expected to reach 10.8 million tons.
