India and Russia are discussing the possibility of India purchasing 8 to 9 million tons of wheat.
India and Russia are discussing the possibility of India purchasing 8 to 9 million tons of wheat. The deficit in the Indian domestic market is expected to be 3 to 4 million tons. India is seeking a price discount of 25 to 40 USD/ton, and they are also exploring options for the wheat delivery.
According to an assessment by the European Commission as of August 13, 2023, the EU has exported 3.72 million tons of soft wheat to third countries, which is 11% less than the previous season’s 4.18 million tons. Romania has exported 1.04 million tons of wheat, Poland exported 733,580 tons, Bulgaria exported 685,240 tons, and France exported 682,030 tons. The largest buyers were Morocco with 834,150 tons, Algeria with 456,720 tons, South Korea with 286,220 tons, Nigeria with 283,340 tons, and South Africa with 214,930 tons.
According to the latest forecast by StoneX for the 2023/24 season, wheat production in Brazil is projected to reach 11.2 million tons, which is 2% below the previous estimate but still remains a record high achievement. Compared to the previous season, the production is 0.8 million tons larger. Exports are expected to reach 2.5 million tons (+0.3 and 2.7), while imports are projected to be 5.8 million tons (compared to 4.5 in 2022/23).
Indonesia plans to purchase 240,000 tons of Russian feed wheat with delivery scheduled for December.
The Egyptian state-owned company GASC has purchased 39,500 tons of sunseed oil at a price of 990 USD/ton C&F. The planned purchase of soyoil was not realized due to high prices ranging from 1,115 to 1,196 USD/ton.
