According to information from negotiations to extend the grain deal, it will most likely be extended, but Russia appears to have been given significant preferences that some participants do not agree with
According to Conab data, as of 05/06/2023, the harvesting campaign of the first corn crop in Brazil has been completed on 68% of the areas (+4% for the week and 76% a year earlier).
Refinitiv Commodities Research has raised its forecast for the 2023/24 corn production in the United States by 2 million tons to 377 million tons (+28.2 million tons compared to 2022/23).
As of April 1, 2023, wheat stocks in Russia reached 27.6 million tons (+79% compared to the average level for the last five years), which is a record for this time of the season.
The European Commission has agreed on the cancellation of national restrictions on the import of wheat, corn, rapeseed and sunseed with Poland, Hungary, Slovakia, Romania and Bulgaria. Farmers in these countires will be provided a second aid in the amount of 100 million euros.
