Refinitiv Commodities Research has raised its forecast for the 2023/24 corn production in the United States by 2 million tons to 377 million tons (+28.2 million tons compared to 2022/23).
– From the beginning of the season to 05/03/2023, the export of grain from Ukraine reached 41,906 million tons, including 311,000 tons in May. Exports of wheat were 14,483 million tons (98,000), barley exports reached 2,469 million tons (8,000) and corn exports were 24,628 million tons (204,000).
– According to the forecast of the European Commission, the durum production in the EU will be 7.5 million tons in 2023/24 and ending stocks will be only 0.1 million tons. Imports will grow to 2.3 million tons (2.08 on average for the last five years). Imports of durum are expected to increase from Canada, where areas will grow to 5.8 million acres, and from the United States with areas of 1.78 million acres (+9% compared to 2022/23).
– According to data from the European Commission, over the period of January – April, EU wheat supplies to Morocco exceeded 4 million tons (1.4 a year earlier), with the country being the leader in European exports, followed by Algeria 3.6 million tons, Nigeria with 2.2 million tons and Egypt with 1.6 million tons.
– According to data from the European Commission, Ukraine will be a key supplier in the EU of rapeseed, sunseed, sunseed meal and sunseed oil in 2022/23. As of 23.04.2023, the total deliveries of these products were 9.8 million tons (+68% compared to the previous year).
– In connection with a decision of the European Commission, Bulgaria has lifted the ban on the import of Ukrainian products.
– Refinitiv Commodities Research has raised its forecast for the 2023/24 corn production in the United States by 2 million tons to 377 million tons (+28.2 million tons compared to 2022/23). Corn areas are expected to grow by 3%. The soybean production is projected to reach 122 million tons (+5.6%).
– Yesterday Chicago commodity funds were net buyers of 11,000 contracts of wheat, 5,500 contracts of corn and 1,000 contracts of soybeans.
– According to data from the Ministry of Agriculture of Argentina, as of 04/26/2023, farmers in the country sold 36.5 million tons of the 2021/22 soybean crop (40.7 a year earlier), and forward sales of the 2022/23 soybean crop reached 7 million tons (14.1) . The sales of sunseed from the 2021/22 crop were 3 million tons (2.7), and those of the 2022/23 crop were 1.9 million tons (2.1). Corn sales from the 2021/22 crop reached 48.5 million tons (50.1) and corn sales from the 2022/23 crop totalled 10.9 million tons (23.7).
– Tunisia has announced a tender for the purchase of 100,000 tons of durum wheat of any origin and delivery over June-July and 75,000 tons of feed barley with delivery within June-July.
– Algeria has announced a tender for the purchase of 140,000 tons of corn with delivery within July 1-30 and 70,000 tons of soymeal with delivery within July 1-15.
– Jordan has bought 60,000 tons of barley at 260 USD/ton C&F at Aqaba port and delivery within October 1 – 15.
