During the past week, the FOB price of Russian wheat with 12.5% protein has fallen to 218 – 224 USD/ton, reaching the lowest level since September 2020. The FOB price of French wheat with 11% protein decreased by 21 USD/ton to 224 USD/ton FOB.

Starting from the week of 28.02.2024, the export tax on Russian wheat will be 3,800.5 rubles/ton (3,952.9 a week earlier). The export tax on barley will be 571 rubles/ton (190), and the export tax on corn will be 828.9 rubles/ton (1,083.5).

From 01.03.2024, the export tax on Russian sunseed oil will be zero, and on sunseed meal, it will be 4,227 rubles/ton (4,321.3 a week earlier).

Between 01.07.2023 and 15.02.2024, the EU imported 4.15 million tons of palm oil (4.4 years earlier) according to the European Commission. Soyoil shipments were 372,850 tons (+14%), and sunseed oil reached 1.45 million tons (+21%). Total soyoil deliveries for the period were 11.15 million tons (-22%), and soymeal deliveries reached 11.33 million tons (-10%).

According to Refinitiv's forecast for 2024/25, the soft wheat production in the EU will be 123.2 million tons (-1.3 compared to the previous estimate and 125.8 in 2023/24).

According to USDA data for the next 10 years, Brazil will supply 72% of the global soybeans, 46% of corn, 62% of beef, 61% of poultry, and 32% of pork. Corn exports will reach 77.5 million tons, and soybean exports are projected at 133 million tons (+58 compared to the USA).

According to CNGOIC data for the period of February 2 – 16 in China, only 790,000 tons of soybeans were processed (1.9 from 27.01 - 02.02). By 16.02.2024, soybean reserves in China were 5.9 million tons (5.3 in the previous period and 4.6 years earlier).

At a tender organized by Bangladesh for the purchase of 50,000 tons of milling wheat, offers were received at prices of 279.95 – 297.60 USD/ton C&F.

Tunisia has announced a tender for the purchase of 100,000 tons of wheat of unspecified origin.

Jordan has canceled a tender for the purchase of 120,000 tons of barley of unspecified origin with delivery within April – May.