According to data from Rusagrotrans, around 3.7 million tons of wheat will be exported from Russia in January (compared to 4.26 million tons in January 2023). As of January 1, 2024, wheat stocks in Russian farms stood at 21.8 million tons (compared to 22.1 million tons a year earlier). The high stocks are attributed to weak exports in November-December when 7.55 million tons of wheat were exported (compared to 9.3 million tons).

From January 1 to January 28, 1.37 million tons of grain were exported from the Russian port of Novorossiysk (a 23% decrease compared to the previous year). Wheat exports amounted to 1.33 million tons (a 23% decrease), and barley exports reached 27,900 tons (a 6% increase). The major buyers of wheat were Egypt with 388,400 tons, followed by Pakistan with 220,600 tons, Bangladesh with 209,000 tons, and Indonesia with 186,700 tons. The entire quantity of barley was delivered to Oman.

Canola processing in Canada during the 2023/24 season is forecasted to reach 10.5-10.7 million tons (a 20% increase compared to 2022/23), according to Oil World. Record-breaking processing of 4.57 million tons of canola has been achieved since the beginning of the season (a 14% increase).

According to data from Safras@Mercado as of January 26, 2024, 15.3% of the first corn production for 2023/24 has been harvested in Brazil. Harvesting has not yet started in Mato Grosso. Soybeans have been harvested on 9% of the areas (4% more compared to the previous year).

As of January 25, 2024, according to AgRural, 11% of the soybean areas for the 2023/24 crop have been harvested in Brazil (a 5% increase compared to the previous week and 5% more than the previous year). For the second corn crop, 11% of the planned areas have been planted (5% more than the previous week and the previous year).

On January 30, 2024, Iran will conduct a tender to purchase 120,000 tons of feed barley and 200,000 tons of soymeal with delivery within March-April. Barley can be supplied from Russia, Ukraine, Kazakhstan, the EU, or other countries in the Black Sea region, while soymeal can supplied from Brazil or Argentina.

Turkey has announced a tender to purchase 150,000 tons of hard wheat for delivery within February-March.