Grain Highlights 24.09.2024

According to a MARS forecast, the average sunseed yield in the EU will reach 1.98 tons/hectare in 2024 (down from 2.04 in the August forecast and 2.15, the average over the last years), and the soybean yield will be 2.85 tons/hectare (up from 2.75 and 2.73).

- In 2023/24, Russia exported 7.2 million tons of vegetable oils, including 5.2 million tons of sunseed oil, 1.2 million tons of rapeseed oil, and 0.757 million tons of soyoil. The export of vegetable meals totaled 4.2 million tons (+15%), including 2.8 million tons of sunseed meal (compared to 2.2), 0.913 million tons of soymeal (compared to 0.717), and 0.485 million tons of rapeseed meal (compared to 0.713).

- According to a forecast by Rusagrotrans, Russia's wheat exports in September are expected to reach 5.5 million tons, corresponding to the 2023 harvest.

- In Russia, 106 million tons of grain crops have been harvested, including 78 million tons of wheat. Winter crop sowing has been completed on 7.5 million hectares out of a planned 20 million hectares.

- As of September 23, 2024, Ukraine has sown 944,500 hectares of winter crops out of the planned 5.188 million hectares. Winter wheat areas cover 878,000 hectares (20%), and winter barley areas cover 45,000 hectares (7%).

- Between July 1 and September 15, 2024, the EU imported 2.618 million tons of soybeans, 1.051 million tons of rapeseed, and 85,900 tons of sunflower seeds. The largest suppliers of soybeans are Brazil with 1.709 million tons and the United States with 641,300 tons. Ukraine supplied 616,700 tons of rapeseed, and Australia 351,800 tons, while Moldova supplied 53,200 tons of sunflower seeds, Serbia 11,800 tons, and China 11,700 tons.

- According to a MARS forecast, the average sunseed yield in the EU will reach 1.98 tons/hectare in 2024 (down from 2.04 in the August forecast and 2.15, the average over the last years), and the soybean yield will be 2.85 tons/hectare (up from 2.75 and 2.73). The corn yield is expected to be 6.84 million tons (down from 7.03 and 7.35).

- In July, biodiesel imports from China to the EU reached 9,835 tons (compared to 109,457 tons in June), according to Eurostat data.

- Fedoil data shows that in August, 3.48 million tons of oilseeds were processed in the EU and UK (compared to 3.25 million tons in July and 3.24 million tons in August 2023). Rapeseed processing reached 1.88 million tons (compared to 1.66 and 1.49), soybean processing was 1.21 million tons (compared to 1.14 and 1.15), and sunseed processing reached 0.384 million tons (compared to 0.448 and 0.367). Since the start of 2024, 26.78 million tons of oilseeds have been processed (compared to 25.60), including 13.32 million tons of rapeseed (compared to 12.65), 9.47 million tons of soybeans (compared to 9.55), and 3.99 million tons of sunflower seeds (compared to 3.41).

- According to USDA data, as of September 22, 2024, 96% of spring wheat areas in the United States have been harvested (compared to 95% a year earlier), as well as 13% of soybean areas, and 14% of corn areas. Winter wheat has been sown on 25% of planned areas.

- Safras & Mercado reports that in August, Brazil imported 193,980 tons of corn, and since the beginning of 2024, imports have reached 589,600 tons.

- Chinese authorities have raised the minimum purchase price for third-class wheat for the 2025 and 2026 harvests to 338.4 USD/ton or 2,380 yuan/ton, compared to 2,360 yuan/ton in 2024. Over the next two years, the state plans to purchase 37 million tons of wheat annually.

- Iran has announced a tender to purchase 120,000 tons of feed barley with delivery within October–November. The products are expected to come from the Black Sea region or Kazakhstan.