According to a StoneX forecast, the drought in the Brazilian state of Rio Grande do Sul will reduce the first corn production to 4.51 million tons (5.38 in the preliminary estimate and 2.56 last season).
– During the first 11 months of 2022, more than 25 million tons of mineral fertilizers were exported from Russia, and in December the export could be 4-5 million tons. For the whole of 2021, exports totalled 37.6 million tons. For 2023, exports may reach 50 million tons.
– Over the week of December 21 – 27, the export tax on Russian wheat will be 3,333.8 rubles/ton (3,143.4 a week earlier). The export tax on barley will be 2,686.9 rubles/ton (2,603.1) and there will be no export tax on corn (78.2).
– Rusagrotrans lowered their forecast for wheat exports from Russia in December from 4.65 million tons to 4.0-4.3 million tons. Logistical problems have occurred which are delaying the export as part of the quantities will be exported in January.
– As of 15.12.2022, 9.85 million hectares have been harvested in Ukraine (88% of all areas), with 44.91 million tons of grain harvested at an average yield of 4.56 tons/hectare. Corn has been harvested on 70% of the areas and 18.41 million tons of corn have been harvested. The harvesting campaign of sunseed has been carried out on 98% of the areas and 10.07 million tons were harvested.
– According to data from the European Commission, over 3.5 million tons of soft wheat were imported into the EU over the period of 01.07 – 11.12.2022, which is 3 times more than the previous year’s 1.2 million tons. Deliveries from Ukraine were 2.3 million tons (+10.1 times the level of a year ago). Imports from Great Britain were 504,200 tons (+2.2 times), 218,600 tons from Canada (+3.1), 146,600 tons from Serbia (-31%) and 137,200 tons from Russia (-48%).
– Chicago commodity funds were net sellers of 4,000 soybean contracts and net buyers of 1,500 corn and 4,000 wheat contracts on Friday.
– During the first 19 weeks of the season, wheat exports from Canada reached 8.8 million tons (+55% compared to the previous year), including soft wheat exports of 7 million tons (+56%) and durum wheat exports of 1.7 million tons (+54%).
– According to a StoneX forecast, the drought in the Brazilian state of Rio Grande do Sul will reduce the first corn production to 4.51 million tons (5.38 in the preliminary estimate and 2.56 last season). The soybean production is projected to reach 22 million tons (11 last year). Conab has already lowered its forecast for the first corn production in the country to 27.2 million tons, and the second corn production is estimated at 96.27 million tons.
– According to data from the Buenos Aires Grain Exchange in Argentina, 50.8% of the planned soybean areas have been sown (-14.2% compared to the previous season), and in total they should reach 16.7 million hectares. Corn has been sown at 42.6% of the plan (-5.1%), and total corn areas are expected to reach 7.3 million hectares. Wheat has been harvested on 53.8% of the areas.
– Most likely, the Indonesian government will introduce biodiesel B30 from the beginning of 2023. In this case, for 2023, the consumption of biodiesel is expected to reach 13.15 million kiloliters (11.03 in 2022). Trials are underway for the use of B40 biodiesel.
