Sagras&Mercado have lowered their forecast for the 2022/23 soybean production in Argentina to 24.8 million tons (-6.6 compared to the previous estimate and 43 in 2021/22).
– According to an optimistic scenario, 15.6 million tons of grain can be exported from Ukraine over the period of April-June, including 10 million tons through the grain corridor and other 5.6 million tons routes. Over the period if July 2022 – March 2023, the export was 37.2 million tons (20.6 and 16.6).
– The German concern Bayer has announced its intention to invest 60 million euros in its own plant for the production of corn seeds in Ukraine.
– Chicago commodity funds were net sellers of 500 contracts of corn, 4,000 contracts of soybeans and 4,000 contracts of wheat yesterday.
– According to Anec’s forecast, Brazil will export 13.8 million tons of soybeans in April (15.2 in March and 11.4 in April 2022), and 1.9 million tons of soymeal (1.8 and 1.8). Corn exports will be 207,100 tons (836,400 and 942,100) and 207,400 tons of wheat (591,000 and 156,400).
– In March, the supply of palm oil in India reached 750,000 tons (586,000 in February), sunseed oil imports were 150,000 tons (-4%, which is the lowest level for the last five months). Over April-May, imports will fall in view of the narrowing spread with other oils from 150 USD/ton in March to 70 USD/ton now.
– According to government data, wheat stocks in Egypt are now sufficient to meet domestic consumption for the next 2.3 months. Stock levels are low because the country’s wheat harvesting campaign is now starting. Oil stocks are sufficient enough for 4.3 months.
