In their June report, analysts from MARS forecast an average yield of soft wheat in the EU in 2024 at 5.86 tons/hectare (5.86 on average over the last five years).
During the past week, wheat, soymeal, and soyoil futures in Chicago experienced minimal declines, while corn futures plummeted and soybean futures declined moderately. In Paris, the September wheat contract saw minimal gains, but others declined; corn futures decreased moderately, while rapeseed futures increased significantly.
In their June forecast, analysts from StatsCan estimate wheat acreage in Canada at 26.641 million acres (27.05 million in March and 26.93 million in 2023/24).
According to government data, record high temperatures in China in recent weeks and the lack of rainfall in the country's production areas will reduce the corn production.
According to a forecast by SovEcon, in 2024/25, Ukraine's wheat production will be 20.4 million tons (21.6 million tons in 2023/24), and corn production will reach 27.6 million tons (31 million tons).
According to a forecast by FAS USDA, in 2024/25, the corn production in Mexico will reach 25 million tons (22.7 million in 2023/24), and wheat production is expected at 2.8 million tons (+0.1).
As of June 20, 2024, 17,200 hectares of grain crops have been harvested in Ukraine, yielding 48,300 tons of grain with an average yield of 2.81 tons/hectare.
According to an FAO forecast, Morocco will import 7.5 million tons of wheat in 2024, a 19% increase compared to 2023, making it the sixth-largest importer in the world.
