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.
In its December report, the Ministry of Agriculture of Argentina forecast wheat exports from the country in 2022/23 of 4.8 million tons (14.5 in 2021/22).
In 2022, the wheat production in Russia reaches 105.7 million tons of bunker weight (+26.6 compared to 2021), barley production is 24.6 million tons (19) and corn production reaches 13.9 million tons (16.1).
The export potential of Ukrainian wheat has dropped to 4 million tons. Until now, Turkey was actively buying wheat from Ukraine, but it has started redirecting transactions to Russia.
