Grain Highlights 27.08.2024

Between July and August, 8.8 million tons of wheat will be exported from Russia (compared to 9.6 million tons a year earlier).

- Between July and August, Russia is expected to export 8.8 million tons of wheat (compared to 9.6 million tons a year earlier). In August, exports will reach 4.9 to 5 million tons (compared to 4.5 million tons in the previous estimate and 5.4 million tons a year earlier).

- The price of Russian wheat in Siberia has started to decline due to Kazakhstan's ban on importing wheat from Russia and the low quality of the grain. Kazakhstan has completely banned the import of Russian wheat until the end of 2024.

- Current sunseed prices in Ukraine, ranging from 490 to 500 USD per ton including VAT with delivery to the plant, make processing into sunseed oil unprofitable. The price of oil DAP Ukraine (region) is 400 to 410 USD per ton, DAP Ukraine (port) is 430 to 440 USD per ton, DAP Bulgaria (center) is 460 to 470 USD per ton, and C&F Bulgaria (port) is 450 to 460 USD per ton.

- MARS has lowered its forecast for the average corn yield in the EU for 2024 from 7.24 tons per hectare to 7.03 tons per hectare. The average yield for soft wheat will be 5.68 tons per hectare (previously 5.87), 5.01 tons per hectare for barley (previously 5.09), and 3.07 tons per hectare for rapeseed (previously 3.10). In Bulgaria, the corn yield will be 4.64 tons per hectare (previously 5.37), sunseed yield will be 2.11 tons per hectare (previously 2.17), soft wheat yield will be 5.73 tons per hectare, durum wheat yield is expected at 4.87 tons per hectare, barley yield is projected at 5.53 tons per hectare, and rapeseed yields is estimated at 2.5 tons per hectare.

- According to data from the Buenos Aires Grain Exchange, 99% of the corn acreage in Argentina has been harvested, yielding 46.02 million tons of grain with an average yield of 6.5 tons per hectare. Sunseed planting for the 2024/25 crop has been completed on 3.2% of the planned areas (compared to 12.7% a year earlier).

- The Australian Oilseeds Federation forecasts that the rapeseed production in the country will reach 5.435 million tons from an area of 3.2 million hectares.

- At a tender for the purchase of 120,000 tons organized by Jordan, eight offers were received from Cargill, CHS, Viterra, Al Dahra, Ameropa, The Andersons, Aston, and Solaris. Delivery is planned for October-November if a deal is reached.