Grain Highlights 26.03.2024

According to the MARS forecast for 2024/25, the average yield of soft wheat in the EU will reach 5.91 tons per hectare (5.82 in 2023/24), while winter barley yield will be at 5.95 tons per hectare (6.05).

- According to the MARS forecast for 2024/25, the average yield of soft wheat in the EU will reach 5.91 tons per hectare (5.82 in 2023/24), while winter barley yield will be at 5.95 tons per hectare (6.05). It is noted that winter crop plantings in Bulgaria and Romania are suffering from prolonged drought. Wheat yield in Bulgaria is projected to be 5.61 tons per hectare (+0.018 compared to 2023/24 and +0.047 compared to the five-year average), barley yield is expected at 5.27 tons per hectare (-0.003 and +0.031), and rapeseed yield is projected at 2.69 tons per hectare (+0.007 and +0.011).

- MARS summarizes that crop plantings across the EU are suffering from various natural disasters. In most regions, drought is the most severe, particularly in Romania, Bulgaria, and Spain. In France, above-normal rainfall is also damaging some plantings. Until recently, Ukraine had been suffering from chronic drought, but recent rainfall has proven very favorable, and plantings are rapidly developing with the warming weather.

- From January to February, Indonesia's palm oil exports reached 2.9 million tons, including 1.89 million tons in January and 1.01 million tons in February.

- From March 1 to 25, Malaysia exported 1 million tons of palm oil, which is 11% more than the same period in February.

- South Korea's NOFI has announced a tender to purchase 138,000 tons of feed corn for delivery in July.

- A group of importers from South Korea has purchased 30,000 tons of milling wheat from the United States at prices ranging from 213.5 to 283.5 USD/ton C&F.

- In 2024/25 (February 2025 - January 2026), soybean production in Brazil will reach 157.5 million tons (+3.2% compared to 2023/24). Soybean acreage will be 45.65 million hectares (+1%). For 2023/24, soybean production is expected to be between 155.0 and 152.6 million tons, with exports of 99 million tons. Domestic soybean consumption in Brazil will reach 55 million tons (+2.5%).

- Morocco will hold a tender to purchase 517,700 tons of feed barley.

- Egypt's state-owned company GASC has announced a tender to purchase vegetable oils for delivery in May. They are seeking 30,000 tons of soyoil and 10,000 tons of sunseed oil.

- Jordan has canceled a tender to purchase 120,000 tons of milling wheat of unspecified origin for delivery in June.

- According to FAS USDA's forecast, Algeria will import a record 8.6 million tons of wheat in 2023/24. Deliveries in 2022/23 were 8.141 million tons. For 2024/25, the forecast indicates wheat imports of 8 million tons, given the expected good production of 2.7 to 3.0 million tons. Domestic wheat consumption in the country will be 11.2 million tons.