In their September forecast, analysts from Stratégie Grains have raised their projection for the soft wheat production in the EU by 0.3 million tons to 125 million tons, which is 0.3 million tons below the level from 2022/23.
The French Ministry of Agriculture has forecasted a wheat production in the country for 2023 of 35.14 million tons (compared to 35.59 in August and a +4.3% increase compared to 2022).
From the beginning of the season, Egypt's state company GASC has imported 2.14 million tons of wheat, including 1.55 million tons from Russia, 420,000 tons from Romania, 120,000 tons from France, and 51,000 tons from Bulgaria.
During the period of July to August, Russia's wheat exports (outside the Eurasian Economic Union) reached a historical record of 9.6 million tons, surpassing the previous best performance achieved in 2018 at 8.9 million tons and the 6 million tons exported in 2022.
According to Conab's forecast, in 2022/23, grain and oilseed production in Brazil will be 322.7 million tons (+0.8% compared to the previous estimate and 272.6 million tons in 2021/22).
StoneX forecasts a record soybean production of 163.63 million tons in Brazil for 2023/24 (+156,000 tons from the August forecast and +3.8% compared to 2022/23).
In August, Russia exported 7.7 million tons of grain (+32% compared to August 2022), including 6.5 million tons of wheat (+36.6% and a current record from August 2021 of 6.6 million tons), 997,000 tons of barley (+7%), and 212,000 tons of corn (+190%).
