According to Conab data, as of 05/06/2023, the harvesting campaign of the first corn crop in Brazil has been completed on 68% of the areas (+4% for the week and 76% a year earlier).
– Chicago commodity funds were net sellers of 9,500 contracts of corn, 8,500 contracts of soybeans and 4,500 contracts of wheat yesterday.
– According to Statistics Canada data, as of 31.03.2023, stocks of the main crops in Canada exceeded those of last year, including wheat stocks of 13.3 million tons (+18%), barley stocks of 2.7 million tons (+44%), corn stocks of 9.1 million tons (-2%), oats stocks of 2.6 million tons (+114%), rapeseed stocks 6 million tons (+16%) and soymeal stocks of 2 million tons (+6%).
– According to Conab data, as of 05/06/2023, the harvesting campaign of the first corn crop in Brazil has been completed on 68% of the areas (+4% for the week and 76% a year earlier). Soybeans have been harvested on 95% of the areas (+1% and 95%).
– According to an estimate by Safras&Mercado, as of 05/05/2023, Brazilian farmers have sold 51% of the expected new 2022/23 soybean crop – 155.1 million tons (61% a year earlier and 67% on average for the last five years). Forward sales of the 2023/24 soybean crop are 6% (12% and 17%). The relative share of sales is smaller than previous years, but there is no difference in terms of quantities, because the new production is much higher than the previous ones. Second corn crop was sold at 24% of the forecast (31% and 33%), which will be 92.2 million tons.
– According to MPOB data, in April palm oil stocks in Malaysia decreased to the lowest level in the last 11 months – 1.5 million tons, which is the third consecutive decrease (-10.54% compared to the end of March). Palm oil production reached 1.2 million tons during the month (-7.13%), which is the lowest level since February 2022. Palm oil exports fell to 1.07 million tons (-27.78%).
– The state company of Egypt GASC has announced a tender for the purchase of 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery within 25.06 – 10.07.2023. For domestic purchase, 1,000 tons of soyoil and 500 tons of sunseed oil are sought with delivery delivery July 1-20.
– Over the period of 28.04 – 03.05.2023, 189,000 tons of corn and 48,000 tons of soybeans were released for import from ports in Egypt. From 16.10.2022 until now, the quantities have reached 3.3 million tons of corn and 1.2 million tons of soybeans.
