Grain Highlights 30.03.2024

30 Mar, 2024
Grain Highlights 30.03.2024
According to the USDA forecast for 2024, corn areas in the United States will reach 90.04 million acres /94.64 in 2023/, with wheat areas of 47.49 million acres /49.58/, and soybean areas of 86.51 million acres /83.6/.

- During the week of April 3-9, the export tax on Russian wheat will be 3,322.8 rubles/ton /3,298.6 the week before/. The export tax on barley will be 573.3 rubles/ton /429/ and export tax on corn will be 69.9 rubles/ton /0/.

- As of March 28, 2024, sunseed sowing has begun in Ukraine. Sunseed areas are expected to reach 5.288 million hectares /5.034 in 2023/, with soybean areas at 1.99 million hectares /1.812/. Sowing of spring grain crops continues, with 476,700 hectares already planted /8.5% of the plan/, including 68,300 hectares planted with wheat /27.8%/ and 291,500 hectares with barley /35.6%/.

- From July 01, 2023, to March 29, 2024, Ukraine has exported 35.593 million tons of grain /37.382 the year before/, including 4.923 million tons in March /5.085/. Wheat exports amounted to 13.717 million tons /1.945 in March/, barley exports reached 1.962 million tons /339,000/, corn exports were 18.622 million tons /2.627/.

- According to the forecast by APK-Inform for 2024/25, EU exports of soymeal will reach 712,000 tons /+32% compared to 2023/24/. Soybean production in the EU for the season is expected to increase by 10.8%, with processing up by 2.8%.

- South Korean MFG has purchased 68,000 tons of feed corn from South Africa or South America at a price of 243.45 USD/ton with delivery by June 30, 2024.

- Egypt's state-owned company GASC has purchased 17,250 tons of sunflower oil at a price of 930 USD/ton C&F and 18,000 tons of soyoil at a price of 1,050 USD/ton. Deliveries are scheduled for May.