Grain Highlights 11.01.2023

11 Jan, 2023
Grain Highlights 11.01.2023
According to information from AgRural, as of 05.01.2023 in Brazil, 0.04% of the areas with the 2022/23 soybean crop have been harvested, i.e. the harvesting campaign has started.

- According to IKAR's estimate, the sunseed production in Russia in 2022 will reach 16.25 million tons (16.35 in the previous estimate). According to Rosstat data, the soybean production reached a record 5.75 million tons (+1 compared to 2021/22), rapaseed production was 4.55 million tons (+1.75), and sunseed production reached 15.34 million tons (15.65).

- According to data from Safras&Mercado, as of 01/09/2023, Brazilian farmers have sold 28.5% of their 2022/23 crop (36.5% a year earlier). Soybean sales from the 2021/22 crop were 96% (95%).

- According to information from AgRural, as of 05.01.2023 in Brazil, 0.04% of the areas with the 2022/23 soybean crop have been harvested, i.e. the harvesting campaign has started. The forecast for the production is 153.6 million tons. So far the crops are in excellent condition, the rainfall forecast for the next 10 days is good, i.e. many crops are approaching the period when no new rainfall will be needed to achieve an excellent production.

- According to Anec's forecast, corn exports from Brazil will reach a record 5.024 million tons in January (+0.698 compared to the previous estimate).

- Over the week of 29.12.2022 - 04.01.2023, Argentine farmers sold 142,500 tons of soybeans from the 2021/22 crop (551,000 a week earlier), and 33,400 tons from the 2022/23 crop (73,200). Sales of the old corn crop were 671,800 tons (1 million tons) and wheat sales were 10,200 tons (12,800). Sales of the new corn crop were 76,500 tons (+11,400) and wheat sales from the new crop reached 6,700 tons (+0.1). As of January 4, 2023, soybean sales totaled 35.4 million tons from the 2021/22 crop (37.3), and sales from the new 2022/23 crop reached 2.7 million tons (4.9). As of January 4, 2023, corn sales from the old crop were 44.8 million tons (47.3) and sales from the new 2022/23 crop reached 6.9 million tons (14.3). Sales of wheat from the old crop reached 23 million tons (17.4) and sales of wheat from the new 2022/23 totaled 6.7 million tons (13.7).

- According to information from market operators, the South Korean company MFG has purchased 68,000 tons of feed corn of most likely origin South America at a price of 339.79 USD/ton C&F and delivery within 10.02 – 01.03.2023.

- On 10.01.2023, Egypt bought 120,000 tons of Russian wheat at a price of 337 USD/ton C&F and delivery within 10 – 25 February.