As of September 1, 2023, wheat stocks in Russia's agricultural organizations were 28.8 million tons, which is 9% lower than the previous year. The decline compared to 2022 is due to accelerated exports.

Since the beginning of October, Ukraine has exported 150,000 tons of grain (297,000 tons the previous year), and since the start of the season, they have exported 6.822 million tons (8.997 million tons). Among the exports are 3.443 million tons of wheat (106,000 in October), 625,000 tons of barley (3,000), and 2.73 million tons of corn (43,000).

From the start of the season until October 1, 2023, the EU has exported 7.39 million tons of soft wheat (9.77 million tons the previous year), with the largest exporters being Romania with 2.03 million tons, Poland with 1.45 million tons, France with 1.29 million tons, Bulgaria with 937,000 tons, and Germany with 677,000 tons. Major buyers include Morocco with 1.38 million tons, Nigeria with 761,500 tons, South Africa with 522,500 tons, Algeria with 503,300 tons, and South Korea with 448,700 tons.

Yesterday, Chicago commodity funds were net sellers of 3,000 soybean contracts and 2,000 corn contracts, and net buyers of 2,000 wheat contracts.

According to Conab data as of October 1, 2023, soybean planting in Brazil has been carried out on 4% of the planned areas (+2% for the week and 5% compared to the previous year). First corn crop has been planted on 23% of the plan (+5% and 23%), and wheat harvesting has been completed on 35% of the areas (+6% and 22%).

According to an estimate by CIARA-CEC, soybean processing in Argentina was 2.1 million tons in August (-0.485 compared to July). From January to August, processing reached 19.6 million tons (-7.1), the lowest level in the last 12 years. Sunseed processing in August was 404,000 tons, and from the beginning of the year, it was 2.9 million tons.

According to GAPKI, crude palm oil production in Indonesia in 2023 will reach 49 million tons (+5% compared to 2022), and year-end stocks will be 3.2 million tons. The impact of El Niño is currently forecasted to be minimal, yet the price of the product is expected to increase by 100 USD/ton over the next 6 months.

According to Intercereales group data, authorities in Morocco plan to purchase 2.5 million tons of soft French wheat by June 30, 2024. In 2023/24, Morocco will increase wheat imports to 5 million tons.

Today, on October 4, 2023, Algeria is conducting a tender to purchase 88,000 tons of feed corn and 30,000 tons of feed barley for delivery in October and November.