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%).
According to Refinitiv Commodities Research's forecast for 2023/24, the soft wheat production in the EU will reach 127.7 million tons (-0.3 compared to the previous estimate and 125.7 in 2022/23).
IKAR once again raises its forecast for the wheat production in Russia in 2023/24 to 91 million tons (up from 89.5 in the previous estimate) as well as the forecast for the total grain production to 140 million tons (139).
According to StatsCan, the wheat production in 2023/24 in Canada is forecasted to reach 29.5 million tons (down by 14% compared to 2022/23), marking the second weakest performance in the last 8 years.
Egypt's state company GASC plans to purchase 50,000 tons of Bulgarian wheat without a tender at a price of 263.77 USD/ton FOB with delivery scheduled between October 5th and 20th.
According to the forecast by the Union of Agronomists in Kazakhstan, the wheat production in the country is not expected to exceed 10 million tons in 2023.
SovEcon has revised its forecast for wheat production in Russia, suddenly increasing it by 5 million tons to 92.1 million tons (up from the previous estimate of 87.1 million tons).
