Grain Highlights 17.07.2024

According to a SovEcon forecast, Russia will export 2.8 million tons of wheat in July, compared to 4.5 million tons in July 2023 and an average of 3 million tons for the month.

- During the 2023/24 season, a record 7.1 million tons of grain were exported from the Russian port of Novorossiysk, up from 5.8 million tons in 2022/23. A total of 168 ships were loaded (compared to 148 previously), and 52,000 railcars and 106,000 trucks were received for unloading. In April, grain exports reached a record 755,000 tons.

- By the end of June, Russia's oilseed stocks were at 1 million tons, down 39.2% from the previous year. Sunseed stocks were at 407,000 tons, down 55%. Wheat stocks stood at 11.2 million tons, up 29.2%.

- During the 2023/24 period, 1.7 million tons of wheat were exported from Russia to Indonesia.

- From July 1 to 17, Ukraine exported 1.996 million tons of cereals (compared to 1.265 million tons a year earlier), including 732,000 tons of wheat (up from 403,000), 254,000 tons of barley (up from 132,000), and 1 million tons of corn (up from 728,000).

- From July 2023 to April 2024, Kazakhstan exported 61,600 tons of sunseed meal to the EU, up from 29,220 tons the previous year.

- According to NOPA data, 5 million tons of soybeans were processed in the United States in July, a 5% increase from June 2023. During the month, there was active consumption of soymeal in the US.

- As of July 11, 2024, AgRural reports that 74% of Brazil's second corn crop has been harvested, an increase of 11% for the week.

- Egypt's state-owned company GASC has announced a tender for the purchase of 40,000 tons of vegetable oils with delivery in September. The tender seeks to purchase 30,000 tons of soyoil and 10,000 tons of sunseed oil.

- On July 16, 2024, Jordan purchased 60,000 tons of milling wheat at a price of USD 255/ton C&F with delivery in August. The tender featured 8 additional offers for sale priced between 258 USD/ton and USD 266 USD/ton C&F.