South Korea’s MFG bought 68k tonnes of Australian feed wheat in a private deal this morning without issuing a tender, at $344/tonne cost plus freight for shipment between May 15 and June 15.
UkrAgroConsult reported Ukraine’s corn harvest at 90% complete, or 25.2 MMT, with average yields at 6.65 tonnes per hectare (105.95 bpa).
The USDA yesterday said that Russia’s official 2022 wheat production estimate of 104.43 million tonnes was “not feasible” given growing season weather and past crop figures; the USDA has their crop at 91 MMT.
A USDA attaché in Canberra yesterday estimated Australia’s 2022/23 wheat production at a record 37 MMT, up from 36.3 MMT last season and above the USDA’s current 36.6 MMT estimate; exports are seen at a record 28 MMT, up from 27.5 MMT both LY and estimated by the USDA for ‘22/23.
The European Commission yesterday left their 2022/23 soft wheat production estimate at 126.4 MMT with corn unchanged at 52.1 MMT, and barley even with last month at 51.6 MMT. Soft wheat exports remained at 34.0 MMT.
Mpls wheat -3
KC wheat -8
Chic wheat -4
Matif wheat -2
Soybean oil +10