Grain Highlights 11.04.2024

According to the forecast of APK-Inform for 2024, the wheat production in Kazakhstan is expected to reach 12.53 million tons /11.14 in 2023/.

- According to the forecast of APK-Inform for 2024, the wheat production in Kazakhstan is expected to reach 12.53 million tons /11.14 in 2023/. Due to deteriorating relations with Russia, imports are expected to decrease by 41%.

- Rainfall and low temperatures are expected in the US Corn Belt over the next 8-14 days, which will delay the planting of the 2024 corn crop. Some analysts expect a delay of 2-3 weeks in the planting season, which is significant, but it will not harm the yield.

- Ethanol production in the United States during the past week has been 1.06 million barrels /-17,000 compared to the previous week and +97,000 compared to the previous year/. Ethanol stocks in the United States decreased by 208,000 barrels to 26.21 million barrels, which is 1.08 million barrels more than the previous year.

- According to reports from the Grain Exchange in Buenos Aires, Argentina, rainfall of 25-75 mm is expected over the next 7 days, accompanied by a decrease in temperatures. Meteorological conditions will hinder the spread of leaf-eating insects, which are a major pest on crops at the moment. Soil moisture will also aid in planting the new wheat crop, with the campaign expected to begin in the second half of May.

- According to official data from the Australian Bureau of Statistics, in February, Australia exported 498,400 tons of barley, including 379,900 tons of feed barley /-38% compared to January/ and 118,500 tons of malting barley /-63%/. For China, 272,100 tons of feed barley were exported, Japan 100,300 tons, and Thailand 2,200 tons. For China, 111,200 tons of malting barley were exported, 4,700 tons to Singapore and 1,100 tons to Thailand .

- During the new season, canola oil production in Australia is expected to reach 495,000 tons /+9% compared to 2023/24 - 454,000/, according to FAS USDA forecast. Canola production is projected to be 6.5 million tons /+14%/. Soymeal production will be 696,000 tons /638,000/.

- In 2023/24, vegetable oil imports to India are expected to reach 16 million tons, including 3 million tons of unrefined sunseed oil, according to SEA forecast. Since the beginning of the season, 1.35 million tons of sunseed oil have been delivered.

- South Korean company MFG has announced a tender to purchase 140,000 tons of feed corn of unspecified origin.