Grain Highlights 13.11.2023

According to the forecast by Rusagrotrans, wheat exports from Russia in November are expected to be 4.6–4.7 million tons (compared to 5.05 million tons in October and 4.74 million tons in November 2022).

During the period from July 1 to November 10, 2023, Russia exported 657,000 tons of hard wheat (52,000 more than the previous year). The Russian Ministry of Agriculture is proposing a ban on the export of hard wheat by the end of the season.

In the past week, 533,000 tons of wheat were exported from the Russian port of Novorossiysk (an increase of 48,000 compared to the previous week), including 139,000 tons to Turkey, 108,000 tons to Bangladesh, and 56,000 tons to Indonesia.

According to data from the Grain Exchange in Buenos Aires as of November 8, 2023, Argentina has sown 1.03 million hectares with soybeans out of a planned 17.1 million hectares. Last year, 4% of the planned 16.2 million hectares were sown by this time. Corn has been planted on 1.8 million hectares, or 25% of the planned areas (an increase of 2% for the week and 23% for the 2022/23 season). Wheat harvesting for the 2023/24 season has been completed on 14% of the total areas (an increase of 7% for the week and 4% overall).

Iran has announced a tender to purchase 180,000 tons of corn and 120,000 tons of soymeal.

The National Cereals and Pulses Bureau of Morocco has increased the subsidy for the import of milling wheat into the country to $27.8 per ton in November (compared to $26.2 in October). The wheat production in Morocco for the current season is 4.16 million tons (2.7 in 2022/23 and an average of 4.9 over the last five years). Imports for the new season are expected to be 6.5 million tons (compared to 6.24 in 2022/23).

According to market operators, Tunisia has announced a tender to purchase 50,000 tons of durum wheat with delivery in December.