Grain Highlights 16.02.2023

16 Feb, 2023
Grain Highlights 16.02.2023
According to ABS data, 2.66 million tons of wheat were exported from Australia in December, which is 50% more than in November - 1.77 million tons.

- SovEcon raised their forecast for wheat exports from Russia in 2022/23 by 0.1 million tons to 44.2 million tons. Over the period of July 2022 - January 2023, exports reached 26.4 million tons, and exports over February - June are projected to reach 17.8 million tons.

- As of 31.01.2023, the stocks of cereals held by the agricultural organizations of Russia were 32.3 million tons (+47% compared to the previous year), including wheat stocks of 19.7 million tons (+59.5%), corn stocks of 3.65 million tons (+11.3%) and sunseed stocks of 2.8 million tons (+25.4%).

- FranceAgriMer has lowered its forecast for the export of French soft wheat in 2022/23 from 17.36 million tons to 17.16 million tons. For countries outside the EU, exports will reach 10.45 million tons (-0.15), and for countries from the EU it remains unchanged at 6.59 million tons. Transition stocks will reach 2.46 million tons (-0.16 and -11% compared to the previous year). In 2021/22, the export was 16.92 million tons, including 8.78 million tons outside the EU.

- US exporters sold 213,300 tons of 2022/23 corn crop to Mexico, according to USDA data.

- According to data from the Buenos Aires Grain Exchange, Argentina will lose 23% of its income from agricultural exports in 2023. In 2023/24, the country's income will be USD 33.39 billion, which is USD 3.31 billion more than in 2021/22.

- According to ABS data, 2.66 million tons of wheat were exported from Australia in December, which is 50% more than in November - 1.77 million tons. The largest customers were China with 828,600 tons, South Korea with 299,000 tons and the Philippines with 290,600 tons. In January, exports will probably be 3.2 million tons, and in February exports are estimated at 3.1 million tons. Over the period of January - June 2023, exports will be 21.3 million tons (10.9 a year earlier).

- According to SOPA's estimate, 631,000 tons of soywere exported from India over the October-January period, which is 65% more than the corresponding period of the previous season. The expected weak soybean production in Argentina raised the prices of soymeal to 598 USD/ton while the price in India is 580-585 USD/ton. For the whole of 2022/23, soymeal exports are projected at 2 million tons.

- Tunisia has announced a tender for the purchase of 100,000 tons of milling wheat and 75,000 tons of barley with delivery in March.