Grain Highlights 16.07.2024

Algeria has announced a tender for the purchase of at least 50,000 tons of soft milling wheat with delivery in August.

- According to a forecast by UkrAgroConsult, the average rapeseed yield in Romania for 2024/25 will be 2.58 tons/hectare (2.62 on average for the last five years).

- During the period from July 2023 to April 2024, Germany exported 1.7 million tons of rapeseed meal (+26% compared to the previous year).

- According to a USDA forecast, wheat imports to Turkey in 2024/25 will reach 8 million tons (-1.5 compared to 2023/24). Imports are banned by the government until October 15, 2024.

- According to USDA data as of July 14, 2024, 71% of the winter wheat areas in the United States have been harvested (52% a year earlier and 62% on average for the last five years). Last week, 77% of the spring wheat crops were in good and excellent condition (75% and 51%), as well as 68% of the corn crops (68% and 57%), and 68% of the soybean crops (68% and 55%).

- Thailand has announced a tender for the import of 175,200 tons of feed wheat with deliveries scheduled from September to December.

- According to Oil World data, during the period from May to July, soybean imports to Egypt will be 1.17 million tons (632,000 in the previous year). The main supplier is the United States with 595,000 tons (325,000), Brazil with 449,000 tons (0), and Ukraine with 109,000 tons (279,000). Throughout the entire 2023/24 period (ending in July), imports will be 2.9 million tons (+0.6), including 1.18 million tons from the USA (1.39), 919,000 tons from Ukraine (475,000), and 685,000 tons from Brazil (0).

- In its July assessment, the USDA forecasts the global sunflower seed production for 2024/25 to be 54.8 million tons (-0.6 compared to 2023/24). Sunseed production will be 14.5 million tons in Ukraine (-0.2), 1.6 million tons in Turkey and 1.75 million tons in China (+0.15). Global consumption will reach 54.9 million tons (-0.6), and processing is projected at 50.8 million tons (-0.57). The global ending stocks of sunseed will be 2.6 million tons (+0.1). The production in Russia will be 16.5 million tons (-3%).