Grain Highlights 20.05.2024

20 May, 2024
Grain Highlights 20.05.2024
In the last few days, the cold temperatures persist across the entire European part of Russia with temperatures ranging from -6 to 0 degrees. A state of emergency has been declared in the Belgorod region.

- The weather is quite cold in Belarus. Temperatures ranging from -9 to -2 degrees have also been recorded in the northern, eastern, and southern regions of Ukraine. Winter wheat crops in these areas of Ukraine are expected to suffer damage of around 20 – 30%. A similar situation is observed with rapeseed. These are data from the Institute of Plant Science in Ukraine. The situation is similar or worse in Russia, where the cold temperatures began on May 4, 2024. Farmers report that crops in one region vary in condition, with most hoping for moderately good results. There are estimates suggesting that we may see a production of 75 – 80 million tons.

- Last week, 503,400 tons of wheat were exported from the Russian port of Novorossiysk (+17% compared to the previous week). Shipments amounted to 84,000 tons to Egypt, 70,700 tons to Syria, 65,900 tons to Tanzania, 61,100 tons to Kenya, and to other destinations.

- From the beginning of the season until May 20, 2024, Ukraine has exported 44.427 million tons of grain (compared to 44.593 million the previous year), including 3.068 million tons in May alone (compared to 2.707 million the previous year). Wheat exports amount to 16.644 million tons (15.278 million the previous year), barley exports reached 2.334 million tons (2.624 million the previous year), and corn exports were 24.964 million tons (26.36 million the previous year).

- According to FEDOIL data, in April, over 3.33 million tons of oilseeds were processed in the EU (-7% compared to March). Processing from January to April amounted to 13.694 million tons (compared to 13.055 million the previous year). The rapeseed processing figure for April was 1.632 million tons (-3%), while from the beginning of the year it was 6.813 million tons (+4%). Sunseed processing reached 547,000 tons (+3% and +13%), and soybean processing was 1.157 million tons (-15% and +2.5%).

- FranceAgriMer forecasts ending stocks of soft wheat in France for the current season at 3.9 million tons (compared to 3.75 million in April), which is 53.6% more than in 2022/23. EU exports for the season are expected to reach 6.25 million tons (compared to 6.28 million). Wheat consumption for feed is projected to be 4.58 million tons (compared to 4.65 million). Soft wheat exports outside the EU are expected to reach 10.05 million tons (10 million).

- From the beginning of the season, Canada has exported 35 million tons of grains and oilseeds (-10% compared to 2022/23). Of this, 17.1 million tons were soft wheat (+7%), 2.9 million tons hard wheat (-33%), 1.8 million tons barley (-33%), and 5.1 million tons canola (-26%). According to the USDA, the export potential for wheat for the entire season is 24 million tons (-6%), and for 2024/25 it is 24.5 million tons.

- In April, Brazil exported 5.92 million tons of soybeans to China, which is 11.7% more than in April 2023, according to data from China's General Administration of Customs. Shipments from the United States amounted to 2.45 million tons (+44%), while from January to April, imports from the United States totaled 9.58 million tons (-40%), and from Brazil 15.9 million tons (+72%).

- In April, India exported 465,100 tons of oilseed meals (493,450 tons the previous year), including 230,800 tons of rapeseed meal and 199,800 tons of soymeal. The largest customers were South Korea, Bangladesh, and Iran.