Grain Highlights 06.12.2024

During the week starting on December 11, 2024, Russia's export tax for wheat will be 4,781.5 rubles/ton (previously 3,696.3), the export tax on barley will be 2,229.1 rubles/ton (previously 1,767.7), and the export tax on corn will be at 4,513.2 rubles/ton (previously 4,127).

During the week starting on December 11, 2024, Russia's export tax for wheat will be 4,781.5 rubles/ton (previously 3,696.3), the export tax on barley will be 2,229.1 rubles/ton (previously 1,767.7), and the export tax on corn will be at 4,513.2 rubles/ton (previously 4,127). The indicative prices are 233.3 USD/ton for wheat ($223.8 the previous week), 187.5 USD/ton for barley ($223.8), and 218 USD/ton for corn ($218.9).

Between July 1 and December 6, 2024, Ukraine exported 18.855 million tons of grain (compared to 13.723 million tons a year earlier), including 480,000 tons in December (626,000 the previous year). Exports included 9.078 million tons of wheat (6.057 million), 7.6 million tons of corn (6.642 million), and 1.865 million tons of barley (0.889 million).

As of December 2, 2024, Ukraine had sown 5.063 million hectares with winter grains (compared to the forecast of 5.188 million hectares). This includes 4.384 million hectares of winter wheat (4.479 million) and 611,100 hectares of winter barley (638,500).

In France, the sowing of soft wheat is nearing completion, with 96% of the planned area sown as of December 2, 2024. Of the crops, 86% are in good or excellent condition (compared to 87% the previous week and 77% a year earlier), marking the second-lowest level in the past five years. The sowing of winter barley is 99% complete, with 83% of crops in good or excellent condition (compared to 84% and 81%, respectively). Corn harvesting has been completed on 94% of the areas.

StatsCan has lowered its forecast for Canada's canola production to 17.8 million tons (from 18.98 million in September's estimate and 19.19 million in 2023/24). The corn production is expected to be 15.35 million tons (15.17 and 15.42), barley production is projected at 8.14 million tons (7.6 and 8.91), and soybean production is estimated at 7.57 million tons (7.72 and 6.98). Canola exports are projected at 8.7 million tons, with domestic consumption at 7.1 million tons. The wheat production is expected to reach an almost record-high 34.9 million tons (+6.1% from the previous estimate), driven by a large durum wheat production of 5.9 million tons (+43.6%). The barley production will total 8.1 million tons (-8.6% compared to 2023/24).

During the first four months of 2024/25 (July–October), no wheat was delivered to Pakistan, compared to 556,900 tons in the same period a year earlier. Soybean imports totaled 430,200 tons (516,700).