According to information from negotiations to extend the grain deal, it will most likely be extended, but Russia appears to have been given significant preferences that some participants do not agree with
– Stratégie Grains has raised its forecast for EU soft wheat production by 1.1 million tons to 130 million tons (125.2 in 2021/22). Barley production will reach 49.9 million tons (-1.7) and corn production is estimated at 62.1 million tons (-0.6).
– Moldova will not limit the import of agricultural products from Ukraine.
– Yesterday Chicago commodity funds were net sellers of 5,500 soybean contracts and 1,000 wheat contracts and net buyers of 2,000 corn contracts.
– The Rosario Grain Exchange once again lowered its forecast for the 2022/23 soybean production in Argentina to 21.5 million tons (23 in the previous estimate and 42.2 in 2021/22). The harvesting campaign was carried out on 54% of the areas. The forecast for the corn production remains unchanged at 32 million tons (51). In a few weeks, the sowing campaign of the 2023/24 wheat crop will begin.
– According to an estimate by the Australian Bureau of Statistics in March, exports of barley from Australia reached 777,800 tons and sorghum exports were 255,060 tons.
– On 11.05.2023, the Government of India announced duty-free import of sunseed oil and soyoil for the period of 31.03 – 30.06.2023. At the start of the year, authorities allowed duty-free imports of 2 million tons of these oils, but this resulted in 90,000 tons of the oils being held up in Indian ports and 180,000 tons loaded onto ships.
– Algeria has purchased 720,000 tonnes of soft milling wheat from Russia, Bulgaria, Romania and France at a price of 273.5 – 276.5 USD/ton C&F and delivery within June – July.
– Egypt has received offers to buy sunseed oil at prices of 1,000 – 1,060 USD/ton C&F and soyoil at a price of 1,075 – 1,085 USD/ton C&F
