According to SovEcon’s forecast, wheat exports from Russia will be 43 million tons in 2023/24.
– According to SovEcon’s forecast, wheat exports from Russia will be 43 million tons in 2023/24. In 2022/23, exports of 44.4 million tons are expected (44.5 in the previous estimate). The new wheat production is estimated at 86.8 million tons (104.2 in the current season), and total grain exports are projected to reach 55.5 million tons (55.9).
– In the first quarter of 2023, the export of sunseed oil from Russia exceeded 1.5 million tons, including 296,000 tons for China, 120,000 tons for India, 119,000 tons for Turkey and 82,000 tons for Algeria. Exports of oilseeds were 972,000 tons (+45% compared to last year). In May, the export tax on sunseed oil from Russia will be 1,122 rubles/ton (1,398 in April).
– In the first eight months of 2022/23, 4.68 million tons of wheat (+11.4% compared to the previous season) were exported from Kazakhstan, according to data from APC – Inform. The biggest customers were Uzbekistan with 2.34 million tons, Tajikistan with 676,300 tons and Afghanistan with 653,600 tons. In March alone, exports were 612,200 tons (760,000), and in February they were 639,400 tons (66,000).
– Strategie Grains raised their forecast for the rapeseed production in the EU in 2023/24 by 0.5 million tons to 20 million tons (+0.6 compared to 2022/23). The sunseed production is expected to reach 11.2 million tons (9.2) and soybean production is estimated at 3.2 million tons (2.5).
– According to USDA data, as of 04/30/2023, 19% of the planned soybean areas have been sown in the United States (+10% for the week, 7% a year earlier and 11% on average for the last five years). Corn was sown on 26% of the planned areas (+12%, 13% and 26%). Sowing of spring wheat was carried out on 12% of the planned areas (+7%). 28% of winter wheat crops are in good and excellent condition (+2% and 27%).
– Yesterday Chicago commodity funds were net sellers of 6,500 contracts of corn and 2,000 contracts of wheat and net buyers of 3,000 contracts of soybeans.
– According to Conab data, as of 29/04/2023, the first corn crop in Brazil has been harvested on 64% of the areas (+4% for the week and 68% a year earlier). Soybeans have been harvested on 94% of the areas (+5%).
– Datagro forecast soybean exports from Brazil in 2023 of 94 million tons (-1 compared to the previous estimate and +19% compared to 2022). The export of soymeal will be 21.5 million tons (+6%), and soyoil exports are projected at 2.6 million tons (2.6).
– The wheat production in Pakistan reached 27.5 million tons, which is the highest level for the last 10 years.
