Grain Highlights 06.08.2024

According to the latest forecast by Argus, in 2024/25, the wheat production in France will reach 25.2 million tons (-27% compared to 2023/24).

- In 2024, the area of all agricultural crops in Russia is 81.153 million hectares (80.185 in 2023). The area of grain crops is 46.127 million hectares (-3.97%), including wheat areas of 28.506 million hectares (-4.24%), barley areas of 6.96 million hectares (-12.86%), and others. The area of winter crops is 17.494 million hectares (+1.27%), including winter wheat areas of 16.134 million hectares (+3.07%), barley areas of 617,000 hectares (-12.92%). The area of spring grain crops is 28.614 million hectares (-6.94%), including spring wheat areas of 12.372 million hectares (-12.36%), corn areas of 2.625 million hectares (-0.43%) and barley areas of 6.343 million hectares (-12.85%). The area of oilseeds will be 18.86 million hectares (+7.09%), including sunseed areas of 9.755 million hectares (-0.64%).

- According to Rusagrotrans, in July, Saudi Arabia purchased 712,000 tons of wheat and barley from Russia. Egypt purchased 529,000 tons of wheat, Libya 317,000 tons of wheat, Morocco 314,000 tons of wheat, and Bangladesh 253,000 tons of wheat.

- From September 2023 to July 2024, Bulgaria exported 0.45 million tons of sunseed (-26% compared to the previous season and -12% compared to the average level of the last five years). Almost the entire quantity was exported to EU countries. The import of sunseed during the period was 0.5 million tons (0.68).

- According to the FAS USDA forecast, in 2024/25, grain production in the EU will be 127.4 million tons. Imports will reach 8.6 million tons (10 in the previous estimate and 12.5 last year), and exports are expected to reach 31.6 million tons (34.5 and 36.7).

- According to the latest forecast by Argus, in 2024/25, the wheat production in France will reach 25.2 million tons (-27% compared to 2023/24). In 1983, the production was 24.5 million tons. Prolonged heavy rains, lack of sunshine, and low temperatures have contributed to the development of diseases that lower the quality of the grain.

- Over the past week, 67% of corn crops in the United States were in good and excellent condition (68% a week earlier and 57% a year earlier), as well as 68% of soybean crops (67% and 54%), 74% of spring wheat crops (41% a year earlier). The winter wheat harvesting campaign has been completed on 88% of the areas, and the spring wheat harvesting campaign has been completed on 6%.

- According to the Australian Bureau of Statistics, in June, Australia exported 1.26 million tons of wheat (-21% compared to May – 1.59 million tons). The main clients were the Philippines, South Korea, and China.

- On August 7, 2024, Egypt’s state company GASC will hold a tender to purchase 40,000 tons of vegetable oils, including 30,000 tons of soyoil and 10,000 tons of sunseed oil. Deliveries are to be made in the October – November period.