Grain Highlights 17.10.2024

As of 01.10.2024, 50.5% of Russia's sunseed areas have been harvested, yielding 8.8 million tons. The forecast for the total production is 17.1 million tons.

- SovEcon has lowered its forecast for Russia's wheat production to 81.5 million tons (down from 82.9 in the previous estimate and 92.8 in 2023/24). The reduction is due to a poor production in Siberia.

- As of 01.10.2024, 84.2% of Russia's grain crop areas have been harvested, yielding 111.4 million tons, which is 11.7% less than the previous year.

- In Kazakhstan, 16.4 million hectares of grain crops have been harvested (98.6% of the area), yielding 25.8 million tons of grain, with an average yield of 1.57 tons/hectare. The wheat production amounted to 19.4 million tons.

- As of 01.10.2024, 50.5% of Russia's sunseed areas have been harvested, yielding 8.8 million tons. The forecast for the total production is 17.1 million tons.

- In November, Malaysia will maintain the export tax on palm oil at 8%, with a reference price of 918.54 USD/ton.

- During the January to September period, Iran purchased around 2.4 million tons of corn from Russia (compared to 1.5 million tons in the previous year). Total corn imports during the period reached 5 million tons. Turkey is the second-largest buyer with a 31% share, and Libya is third with 4%.

- Algeria is holding a tender to purchase 240,000 tons of feed corn from Argentina or Brazil and 35,000 tons of feed barley from any origin with delivery in November.