IKAR estimates the need to resow areas with winter crops in Russia in the spring of 2023 in the amount of 1 million hectares (0.8 – 0.85 in the previous estimate).
According to data from S&P Global Commodity Insights, wheat areas in the United States will be 20.2 million hectares in 2023/24 (+9% compared to 2022/23).
Over the period January 1-22, 2.8 million tons of grain were exported from Russia (+170% compared to the previous year), including wheat exports of 2,473 million tons (1,253).
According to data from Oil World, over the period of October - December 2022, soybean processing in the world was 79.5 million tons (-1.2 compared to the previous year).
According to a study by Farm Futures, wheat areas in the United States will be 19.8 million hectares in 2023 (+1.3 compared to 2022), including winter wheat areas of 14.1 million hectares (+0.9) and spring wheat areas of 5.6 million hectares.
According to a forecast by Refinitiv Commodities Research, the corn production in Brazil will reach 127.5 million tons in 2022/23 (+1% compared to the previous estimate and 113.1 million tons in 2021/22).
According to preliminary data of the tender held today, Algeria has purchased 570,000 tons of wheat at a price of 334.5 USD/ton C&F and delivery in March.
IKAR has raised its forecast for the wheat exports from Russia in 2022/23 from 44 million tons to 45.5 million tons. The estimate for grain exports has been increased from 53.5 million tons to 55.5 million tons.
According to SovEcon's forecast, the ending wheat stocks in Russia will reach a record 16.2 million tons in 2022/23 (6.7 in 2021/22 and 9.3 million tons on average for the last five years).
The Buenos Aires Grain Exchange estimates the 2022/23 soybean production in Argentina at 41 million tons (48 in the previous forecast). Corn areas are projected at 7.1 million hectares (7.3).
