SovEcon have raised their forecast for wheat exports from Russia in 2022/23 to 43.7 million tons (+0.3) in connection with the current high export rate.
According to data from the National Bureau of Statistics of China, 4.14 million tons of soybeans were imported into the country in October, which is 19% less than October 2021 and the lowest level since October 2014, when 4.1 million tons were imported.
Russia has resumed its participation in the grain deal. Written guarantees have been received from Ukraine that the corridor will not be used to carry out hostilities against Russia.
In October, wheat exports from Russia will reach 4.7 million tons, which is a record achievement for the month. Exports in the previous week are estimated at 1.3 million tons.
During the last days, precipitation has fallen in Argentina in the range of 30-100 l/sq.m. Good amounts of rain fell in the province of Buenos Aires, the southeastern parts of Córdoba and Santa Fe.
