Grain Highlights 03.12.2024

According to Rusagrotrans, Russia's wheat exports in December 2024 are expected to reach 4.1 million tons.

As of November 26, 2024, Russia has harvested 132 million tons of grain (-19.3% compared to the previous season). Harvesting has been completed on 87.7% of the grain crop areas. The oilseed production stands at 29.4 million tons (29.86 million in 2023), including 17.2 million tons of sunseed, 7.2 million tons of soybeans, and 5 million tons of rapeseed. The wheat production totals 87.7 million tons, barley production reaches 17.9 million tons, and corn production is at 12.9 million tons.

According to Rusagrotrans, Russia's wheat exports in December 2024 are expected to reach 4.1 million tons. In November, exports amounted to 4.4 million tons (3.49 million in November 2023).

As of December 2, 2024, 5.063 million hectares of winter grains have been sown in Ukraine (98% of the forecast). Winter wheat has been sown on 98% of the planned areas, and winter barley on 96%.

In November, sunseed exports from Moldova reached a record 91,300 tons. Concurrently, sunseed oil exports decreased to 33,200 tons since the beginning of the season (98,300 tons a year earlier).

According to Strategie Grains, the EU's rapeseed production in 2025 is projected to reach 18.7 million tons (+12% compared to 2023), while the sunseed production is expected to reach 10.5 million tons (+25%).

Data from the Canadian Grain Commission indicates that during the first four months of 2024/25, Canada exported 6.3 million tons of soft wheat (5.51 million a year earlier). Durum wheat exports reached 1.3 million tons (+53%), barley exports were 0.8 million tons (+8%), canola exports were 3.7 million tons (+91%), and soybean exports reached 1.9 million tons (+43%). The total export of all crops was 16.6 million tons (+26%).

AgRural reports that as of November 28, 2024, 91% of the planned soybean areas in Brazil have been sown (85% a year earlier). The production is expected to reach 170.8 million tons according to Cereles, with exports of 107 million tons. Agroconsult projects a production of 172.6 million tons and exports of 103.4 million tons.

In November, vegetable oil imports to India rose to their highest level in the past four months. Palm oil imports for the month reached 850,000 tons (+0.5% compared to October). For December, imports are expected to decrease to 600,000 tons. Soyoil imports were 410,000 tons (+20%), and sunseed oil imports 341,000 tons (+43%). Total oil imports in November amounted to 1.6 million tons (+12%).

Farmers in India have completed wheat sowing, covering 20 million hectares as of November 29, 2024 (+6.6% compared to 2023).