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.
StoneX has lowered its forecast for soybean production in Brazil in 2022/23 by 1.2 million tons to 153.8 million tons, given the drought in the southern parts of the country.
In December, India increased palm oil imports by 94% compared to December 2021 to a record level for the month of 1.1 million tons given the fall in the palm oil price.
From 01.01.2023, the Indonesian government is changing the palm oil export regime in order to satisfy the domestic market at lower prices. Until now, the domestic sales/exports rule was 1/8, but in January the ratio will be 1/6.
