According to the latest forecast by FAS USDA, the wheat production in Bulgaria in 2024/25 will reach a record 6.9 million tons, which will be achieved with smaller areas, a reduction of 4% compared to 2023/24, and higher yields.
SovEcon estimates Russia's wheat exports in June at 3.5-4 million tons (3.6 million tons in June 2023 and only 1.6 million tons on average for this month in previous years).
In 2024, Russia's sunseed production is projected to reach 15.8 million tons (compared to 17.25 million in 2023). Soybean production will reach 7.2 million tons (6.824 million), and rapeseed production is forecasted at 4.3 million tons (4.203 million).
The government of Turkey is banning wheat imports into the country from June 21 to October 15, 2024. This measure is due to the significant domestic reserves, which have reached 9 million tons.
StoneX has lowered its forecast for the 2023/24 corn production in Brazil to 121.75 million tons (from 125.6 in the previous estimate), with the reduction attributed to the second corn production.
