Grain Highlights 08.01.2024

In January, soybean exports from Brazil are expected to reach 1.3 million tons (940,000 tons the previous year) according to Anec's forecast. There are possibilities that exports could increase to 2.7 million tons.

- During the period from July 1, 2023, to January 8, 2024, Ukraine's grain exports reached 19.422 million tons (23.598 million tons the previous year), including 1.03 million tons in January (852,000 tons). The exports include 7.804 million tons of wheat (8.604), 1.154 million tons of barley (1.653), and 10.319 million tons of corn (13.255).

- According to data from the port operator Haropa for the week of December 29, 2023, to January 4, 2024, 105,810 tons of wheat were exported from the French port of Rouen, including 50,810 tons to China, 24,990 tons to Portugal, and 30,000 tons to Algeria. From the port of La Pallice, 51,000 tons of wheat were exported, including 32,000 tons to Senegal and 19,000 tons to China.

- In January, soybean exports from Brazil are expected to reach 1.3 million tons (940,000 tons the previous year) according to Anec's forecast. There are possibilities that exports could increase to 2.7 million tons. Safras&Mercado forecasts exports of 2 million tons, expressing concerns that the quantity may be less due to the deficit in oilseeds in the country. According to Abiove, soybean stocks in Brazil at the beginning of 2024 are 4.9 million tons (3.7 million tons the previous year). It appears that exports are slowing down due to already low stocks, but the new harvest is arriving much earlier than usual. China expects the first quantities of soybeans from Brazil and is not making purchases from the United States. According to Anec, corn exports in January will be 3.33 million tons (4.86 million tons).

- According to CNGOIC data for the week of December 23-29, soybean processing in China reached 1.7 million tons (up 4% from the previous week and 3% from the previous year). Soybean stocks increased to 6.1 million tons (up 13% from the previous week, 21% from the previous month, and 57% from the previous year).

- In 2023, Egypt received 11 million tons of wheat (9.6 million tons in 2022). Out of the total quantity, 5 million tons were delivered through government contracts. During the year, 80% of deliveries were from the Black Sea region.