Coceral lowered its forecast for the 2023/24 grain production in the EU by 6.7 million tons to 273.4 million tons (266.8 in 2022/23).
– Coceral lowered its forecast for the 2023/24 grain production in the EU by 6.7 million tons to 273.4 million tons (266.8 in 2022/23). The soft wheat production is projected at 127.3 million tons (-2.2 and 126.9), corn production is estimated at 61.1 million tons (-1 and 52.3), barley production is expected at 49.5 million tons (-3 and 51.9). The total production of oil crops will be 33.7 million tons (-0.1 and +2.2), including rapeseed production of 19.7 million tons (19.8 and 19.5).
– The Ministry of Agriculture of France predicts a 2023/24 barley production in the country of 9.07 million tons, which is 7.3% more than the previous year – 8.45 million tons. Rapeseed production is estimated at 4.63 million tons (+2.6% and 4.51).
– Yesterday Chicago commodity funds were net buyers of 10,000 contracts of corn and 1,000 contracts of wheat and net sellers of 2,500 contracts of soybeans.
– According to USDA data, as of 11/06/2023, 8% of the wheat areas in the United States have been harvested (+4% for the week, 9% a year earlier and 9% on average for the last five years). 38% of the winter wheat crops are in good and excellent condition (36% a week earlier, 31% a year earlier, 49% average for the last five years). 61% of corn crops are in good and excellent condition (-3% for the week, 71% a year earlier), as well as 59% of soybean (-3% and 70%) and 60% of spring wheat crops (-4% and 54%).
– Analysts at the Australian Bureau of Meteorology have raised the probability of an El Niño by the end of the year to 70%, up 20% from the previous estimate. Many countries in Asia, Latin America, Australia, Malaysia and others will suffer from drought.
– The state company of Egypt GASC has announced a tender for the purchase of soyoil and sunseed oil with delivery within 20.07 – 05.08.2023.
