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).
The Rosario Grain Exchange has lowered its forecast for the 2022/23 soybean production in Argentina by 12 million tons from the December estimate to 37 million tons (the third lowest result in the last 15 years). The estimate for the corn production was lowered by 10 million tons to 45 million tons.
According to information from AgRural, as of 05.01.2023 in Brazil, 0.04% of the areas with the 2022/23 soybean crop have been harvested, i.e. the harvesting campaign has started.
According to a forecast by Safras&Mercado, soybean production in Brazil is projected at 153.37 million tons in 2022/23 (154.53 in the November forecast).
According to a forecast of the Ukrainian Agribusiness Club, the grain production in Ukraine will reach 30-35 million tons in 2023, and oilseed production will be 18-20 million tons.
According to the latest analysts' estimates, the wheat production in Australia will reach a record 42 million tons given the higher than expected yields at the end of the campaign.
