IKAR estimates the need to resow areas with winter crops in Russia in the spring of 2023 in the amount of 1 million hectares (0.8 – 0.85 in the previous estimate).
According to data from S&P Global Commodity Insights, wheat areas in the United States will be 20.2 million hectares in 2023/24 (+9% compared to 2022/23).
Over the period January 1-22, 2.8 million tons of grain were exported from Russia (+170% compared to the previous year), including wheat exports of 2,473 million tons (1,253).
According to data from Oil World, over the period of October - December 2022, soybean processing in the world was 79.5 million tons (-1.2 compared to the previous year).
According to a study by Farm Futures, wheat areas in the United States will be 19.8 million hectares in 2023 (+1.3 compared to 2022), including winter wheat areas of 14.1 million hectares (+0.9) and spring wheat areas of 5.6 million hectares.
According to a forecast by Refinitiv Commodities Research, the corn production in Brazil will reach 127.5 million tons in 2022/23 (+1% compared to the previous estimate and 113.1 million tons in 2021/22).
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.
