Conab lowered their forecast for the 2022/233 corn production in Brazil by 1.3 million tons to 123.7 million tons, including first corn production of 26.5 million tons and second corn production of 95 million tons.
– From the beginning of 2023, 2.5 ships are inspected daily along the grain corridor of Ukraine (3.5 in December). There are 117 vessels awaiting inspection.
– Chicago commodity funds were net buyers of 2,500 contracts of corn, 1,500 contracts of soybeans and 5,500 contracts of wheat yesterday.
– Conab lowered their forecast for the 2022/233 corn production in Brazil by 1.3 million tons to 123.7 million tons, including first corn production of 26.5 million tons and second corn production of 95 million tons. Domestic corn consumption will be 79.4 million tons (-1.4), exports are projected at 47 million tons (+2), and ending corn stocks are estimated at 8.1 million tons (+0.7).
– According to the forecast of the Ministry of Agriculture of China, the consumption of edible oils in the country will reach 36.52 million tons in 2022/23 (36.34 in the January estimate). In 2022, the soybean production in China reaches a record 20.3 million tons. Sown areas were 10.3 million hectares (+21.7% compared to 2021), which is the highest level since 1949.
– Authorities in India are considering extending the ban on wheat exports that was introduced in 2022.
– The authorities in Egypt are conducting negotiations for the import of 1 million tons of wheat from Serbia. Now, wheat stocks in the country are sufficient to satisfy domestic consumption for 4.5 months.
