Grain Highlights 12.07.2024

As of July 9, 2024, 7.6 million hectares of grain crops have been harvested in Russia, yielding 29.1 million tons of grain, including 23.4 million tons of wheat and 3.3 million tons of barley.

- As of July 9, 2024, 7.6 million hectares of grain crops have been harvested in Russia, yielding 29.1 million tons of grain, including 23.4 million tons of wheat and 3.3 million tons of barley. The average wheat yield so far is 4.01 tons per hectare (0.13 tons per hectare more than last year).

- In the 2024/25 season, the oilseed production in Ukraine will reach 22.5 million tons (up 3.8% from 2023/24), according to estimates by Ukroliyaprom. The soybean production will be 4.743 million tons (up 7.5%), sunseed production is expected at 13 million tons (up 12.76%), and rapeseed production at 4.1 million tons (up 4.184%).

- In the 2024/25 season, Moldova's wheat production will be between 1.4 and 1.5 million tons, with an area of about 320,000 hectares.

- In May, Australia exported 676,700 tons of canola (compared to 647,700 in April and 503,700 in May 2023). The largest customer was Pakistan with 181,300 tons, followed by Japan with 132,800 tons, and Belgium with 122,500 tons.

- According to a forecast by Rural Bank, Australia's wheat exports in 2023/24 will reach 20 million tons, barley exports are estimated at 7.6 million tons, and rapeseed exports are projected at 5.8 million tons. The strong export reduces stocks in the country and limits maneuverability in the second half of 2024 if something extraordinary happens.

- In recent days, China purchased 132,000 tons of soybeans from the 2024/25 crop from the United States. This is the first Chinese purchase of new crop soybeans from the US.

- Algeria has purchased an unspecified amount of wheat at a price of 246-253 USD/ton C&F.

- According to Oil World, in April-May, global canola/rapeseed exports amounted to 2.92 million tons, 40% more than in the same period in 2023. Canada exported 1.39 million tons (1.24), Australia 1.32 million tons (0.85), and Ukraine 206,000 tons (29,000). The largest customers were China with 1.07 million tons (0.91) and the EU with 0.87 million tons (0.23). Since the beginning of the season, exports have reached 15.41 million tons (16.57), including 5.96 million tons from Canada (7.37), 5.67 million tons from Australia (5.35), and 3.66 million tons from Ukraine (3.42). The largest buyers were China with 4.07 million tons (4.17), the EU with 5.81 million tons (6.59), Japan with 1.97 million tons (1.68), and Mexico with 1.14 million tons (1.22).

- According to FAO estimates, the global wheat production in 2024 will be 789.1 million tons (788.1 in 2023). Wheat production will reach 139 million tons in China (136.6), 113 million tons in India (110.6), 51 million tons in the USA (49.3), 128 million tons in the EU (133.6), and 84 million tons in Russia (93.6). Wheat exports from Russia in the new season will be 46.5 million tons (55.4).