StoneX has lowered its forecast for soybean production in Brazil in 2022/23 by 1.2 million tons to 153.8 million tons, given the drought in the southern parts of the country.
– According to an estimate by the European Commission, in the last week of 2022, 117,800 tons of soft wheat were exported from the EU (362,900 a week earlier), which is the lowest level since the beginning of the season. 79,900 tons of grain were exported from France, 31,400 tons from Latvia. In the first half of the season, wheat exports reached 16.7 million tons (15.78 a year earlier). The largest customers were Morocco with 2.31 million tons, Algeria with 2.19 million tons, Egypt with 1.59 million tons, Nigeria with 1.32 million tons and Saudi Arabia with 982,000 tons.
– As of 01.01.2023, 19% of winter wheat crops in the American state of Kansas were in good and excellent condition (21% as of 27.11.2022 and 33% a year earlier). The state is a major producer of wheat in the United States. 50% of the wheat crops in Colorado (30% and 25%), 68% of the crops in Illinois (30% and 75%), 38% of the crops in Oklahoma (31% and 20%), 22% of the crops in Montana (44% and 12%), 18% of the crops in Nebraska (20 % and 39%), 48% of the crops in North Dakota (59% and 39%), 16% of the crops in South Dakota (27% and 38%) were also in good and excellent condition. The damage from the low temperatures in December is not yet known.
– Chicago commodity funds were net sellers of 14,500 contracts of corn, 3,500 contracts of soybeans and 8,500 contracts of wheat yesterday.
– StoneX has lowered its forecast for soybean production in Brazil in 2022/23 by 1.2 million tons to 153.8 million tons, given the drought in the southern parts of the country. Last year, the production was 125.5 million tons. The forecast for the corn production was also lowered by 1.6 million tons to 128.7 million tons (+15.6). The estimate for corn exports remained at the level of 46 million tons (+4.5).
– As of 01/04/2023, Argentine farmers have sold 80.1% of their 2021/22 soybean crop (80.5% a year earlier). During the week of December 22-28, 551,000 tons of oilseeds were sold, which is the highest level for recent weeks.
– A group of wheat importers in Thailand has announced a tender for the purchase of 75,200 tons of feed wheat of any origin and delivery within April 1-20.
– Tunisia has announced a tender to import 100,000 tons of milling wheat and 75,000 tons of barley with delivery in February.
