At the negotiations on the extension of Ukraine’s grain corridor in Geneva, the Russian delegation agreed to renew the deal for another 60 days.
– Over the week of March 6-12, 487,000 tons of wheat were exported from the Russian port of Novorossiysk (-19,000 a week earlier). 72,000 tons were sent to Saudi Arabia, 69,000 tons to Oman and 68,000 tons to Sudan.
– According to final data from Rosstat, the grain production in Russia will reach 157.7 million tons of net weight in 2023, including wheat production of 104.4 million tons, barley production of 23.39 million tons and corn production of 15.85 million tons.
– According to a forecast of the National Academy of Agrarian Sciences of Ukraine, the grain production in the country will reach 34 million tons in 2023 (-37% compared to 2022 and -60% compared to 2021). Other local analysts expect a 45% drop in cereal acreage from the 2023 crop and worse crop management.
– From the beginning of the season to 13.03.2023, 34,226 million tons of grain were exported from Ukraine (44,849 a year earlier), including 1,929 million tons in March (1,334). Wheat exports will reach 11,867 million tons (529,000), barley exports are expected at 2,129 million tons (799,000) and corn exports will reach 19,918 million tons (1,314).
– According to FranceAgriMer data, as of 03/06/2023, 95% of crops in France were in good and excellent condition (92% a year earlier). Spring barley has been sown on 98% of the planned areas (+6% for the week and 73% a year earlier).
– Conab lowered its forecast for Brazil’s soybean production in 2022/23 by 1.5 million tons to 151.4 million tons (125.5 in 2021/22). Exports will be 93 million tons (-0.9), domestic consumption will be 56.6 million tons and ending stocks are projected at 5.5 million tons. The corn production is expected at 124.7 million tons (+0.9 and 113.1), including first corn production of 26.8 million tons (+0.3) and second corn production of 95.6 million tons (+0.6). Corn exports will reach 48 million tons, domestic consumption is estimated at 79.4 million tons and ending stocks are projected at 7.3 million tons (-0.8).
– According to Anec’s forecast, 93 million tons of soybeans will be exported from Brazil in 2023 (+20% compared to the previous year). With the largest share are China with 71%, Spain with 7%, Thailand with 3%, Russia with 3% and Argentina with 2%. Corn exports will be 50 million tons (+16% for the year), which is a record achievement. With the largest share are Japan with 23%, Vietnam with 10%, South Korea with 9%, Colombia with 9%, China with 8% and Iran with 7%.
– In January, canola exports from Australia reached 715,100 tons (-6% on December) according to ABS data. The biggest customers were Germany with 238,200 tons, Belgium with 130,700 tons and Bangladesh with 105,200 tons.
– In February, palm oil stocks in Malaysia reached the lowest level for the last 6 months – 2.12 million tons (-6.56% for the month). Production decreased by 9,355 to 1.25 million tons, which is the lowest level for the last 11 months.
– Saudi Arabia has purchased 1.04 million tons of milling wheat with delivery within July-August.
