Grain Highlights 08.10.2024

According to Rusagrotrans data, 5.26 million tons of wheat were exported from Russia in September (compared to 5.48 million tons in September 2023).

- During the period from July to September, Russia's wheat exports reached 14.73 million tons (compared to 15 million in the same period last year). Egypt purchased 2.9 million tons of wheat (+0.8), Turkey 0.69 million tons (compared to 1 million last year), Algeria 0.98 million tons, and Bangladesh 0.9 million tons.

- As of October 8, 2024, Kazakhstan harvested over 15.8 million hectares of grain areas, with an average yield of 1.52 tons/hectare, collecting a total of 24.1 million tons of grain. Of this, 18.4 million tons were wheat, and 2.1 million tons were barley.

- According to FranceAgriMer data, by September 30, 2024, 2% of corn areas in France had been harvested (compared to 23% the previous year and 26% on average over the past five years). For the 2025/26 winter soft wheat crop, 1% of the planned area has been sown, and for winter barley, 3%.

- In July, biodiesel imports from China to the EU totaled 9,800 tons (compared to 109,500 tons in June), the lowest level since April 2021. In July, the EU imposed an import tax on the product of 36.4% (up from 12.8% previously). However, China's export data differs. In May, China's palm oil exports were 74,300 tons, and in June, 43,400 tons. In July, total biodiesel imports to the EU reached 190,500 tons (-15.3%), the lowest since March 2024.

- Indonesia's plans to expand the use of B40 biodiesel based on palm oil will increase demand for the oil by 1.5–1.7 million tons. The current ratio is B35. There are political moves to adopt B50. Global palm oil production is forecast to grow by 2.3 million tons in 2024/25.

- According to palm oil producers in Malaysia, production in the country is expected to reach 19.4 million tons in 2024 (compared to 18.55 million tons in 2023). In Indonesia, the production will decrease by 1 million tons to 54.84 million tons. In 2024, exports from Malaysia are expected to reach 15.7 million tons.

- Bangladesh is looking to purchase 50,000 tons of milling wheat. The last tender conducted by the country was in February 2024.

- Saudi Arabia has purchased 307,000 tons of milling wheat at a price of 265.78 USD/ton C&F, with delivery scheduled between December 2024 and January 2025. The wheat batches were sourced from the EU, North America, South America, and Australia.