The Buenos Aires Grain Exchange reports that as of 07.12.2022, only 37.1% of the planned soybean areas have been sown in Argentina (+8% for the week and -20% compared to 2021).
– SovEcon has raised its forecast for wheat exports from Russia in 2022/23 to 43.9 million tons (43.7 in the previous estimate). In the fourth quarter of 2022, the export will be 12.7 million tons, and over the period of July – December exports are projected at 22.8 million tons.
– The authorities in Russia will not cancel the export tax on Russian grain, as the goal is to regulate domestic prices.
– Over the period of 01.07 – 07.12.2022, 18,523 million tons of cereals were exported from Ukraine, including 0.64 million tons in December. A year earlier, exports were 27,511 million tons (1,415 million tons in December 2021). The export of wheat reached 6,979 million tons (14,982), and corn exports were 9,982 million tons (7,204).
– Chicago commodity funds were net buyers of 2,500 contracts of corn, 7,000 contracts of soybeans and 8,000 contracts of wheat yesterday.
– The government of Mexico will propose that the ban on the import of GM corn be postponed until 2025. Annually, Mexico buys 17 million tons of GM corn from the United States. There is no supplier in the world that can offer Mexico 17 million tons of non-GM corn.
– According to Oil World’s estimate, 2.64 million tons of soybeans were exported from Brazil in November (+2% compared to November 2021 and 3.8 million tons in October 2021). 2.08 million tons of soybeans were exported to China (-7% and 3.08). Exports from the USA were 9.3 million tons (-1.3 compared to 2021), including 6.5 million tons for China (-0.4). Soybean exprots reached 0.9 million tons from Argentina (0.04), including 0.85 million tons for China.
– In the past week, Argentine farmers have increased soybean sales by 74% compared to the previous period thanks to the introduction of the “soy dollar”. During the week of November 24-30, sales reached 556,000 tons (+76.9%). Corn sales from the 2021/22 crop reached 72.8% of the harvested quantity.
– The Buenos Aires Grain Exchange reports that as of 07.12.2022, only 37.1% of the planned soybean areas have been sown in Argentina (+8% for the week and -20% compared to 2021). 23% of the crops are in poor condition (16% a week earlier and 1% a year earlier). Corn sowing was done at 32.7% of the planned areas (+7.3% for the week and -6.8% compared to last year). 18% of crops are in good and excellent condition (+3% for the week and 85% a year earlier). 42.1% of the areas were harvested with wheat, and 4.5 million tons of wheat were harvested.
