According to StoneX’s forecast, the soybean production in Brazil will reach a record 163.5 million tons in 2023/24 (compared to 157.7 million tons in 2022/23).
During the period of 01.07 – 01.08.2023, Ukraine exported 2.341 million tons of grain (1.742 million tons more compared to the same period last year, and 63,000 tons in the first day of August). Wheat exports were 852,000 tons, barley exports reached 304,000 tons, and corn exports were 1.18 million tons.
Yesterday, Chicago commodity funds were net sellers of 6,500 corn contracts, 4,000 soybean contracts, and neutral towards wheat.
According to the government estimate, during the period of July 24 – 31, Brazil exported 1.6 million tons of corn (1.5 weeks earlier) and 1.9 million tons of soybeans (1.7 weeks earlier). From the beginning of the season, corn exports reached 7.5 million tons (+7%), and soybean exports reached 72.2 million tons (+24%).
As of 29.07.2023, in Brazil, 100% of the planned wheat areas for 2023/24 has been sown. 2% of the crops have already been harvested (1% more compared to the previous year). The harvesting of the second corn production has been completed on 55% of the areas (+7% compared to the previous week and 71% more than the previous year).
According to StoneX’s forecast, the soybean production in Brazil will reach a record 163.5 million tons in 2023/24 (compared to 157.7 million tons in 2022/23). The cultivated areas will increase by 2.1% to 45.1 million hectares.
In Argentina, the strike of the dockworkers has ended, and the Rosario port has resumed its normal operations.
Tunisia has purchased 125,000 tons of soft wheat of unspecified origin with delivery scheduled for August – September at prices ranging from 271.68 to 277.77 USD/ton C&F.
