Grain Highlights 02.04.2024

02 Apr, 2024
Grain Highlights 02.04.2024
In March, Russia exported 5.7 million tons of grain (-14.6% compared to February), including 4.517 million tons of wheat (-15.7%), 612,000 tons of barley, and 574,000 tons of corn.

- Since the beginning of the season, Russia's grain exports have amounted to 51.4 million tons, including 42.2 million tons of wheat. For the entire 2023/24 period, grain exports will reach 67 million tons (15.6 million tons during the last quarter of the season), including 55 million tons of wheat (12.8 million tons).

- According to NASS USDA data as of March 31, 2024, in the USA, 56% of winter wheat crops are in good to excellent condition (compared to 28% the previous year), 33% are in fair condition (36%), and 11% are in poor to very poor condition (36%). Corn has been planted on 2% of planned areas, and spring wheat on 1%.

- According to AgRural data, 74% of soybean crops for the 2023/24 production have been harvested in Brazil (compared to 76% the previous year).

- The National Development and Reform Commission in China has determined the quotas for duty-free imports of various crops into the country for 2024 as follows: wheat 9.636 million tons (90% state quota), corn 7.2 million tons (60%), rice 5.32 million tons.

- In March, Malaysia exported 1.33 million tons of palm oil (+20.5% compared to February – 1.106, and 1.286 in January). India exported 311,130 tons (218,115), the EU exported 272,935 tons (319,280) and China exported 89,385 tons (88,170).

- In 2024/25, India may harvest a record wheat production of 112.5 million tons according to FAS USDA forecast. The production in 2023/24 was 110.6 million tons. The areas cultivated with wheat for the new season are 31.8 million hectares (31.4). Wheat imports into India in 2024/25 are expected to be 2 million tons.

- In March, plant deliveries in India amounted to 1.149 million tons (+18.7% compared to February), the highest level in the last six months. Sunseed oil imports were 448,000 tons, the second-highest level in history. Palm oil deliveries were 481,000 tons (the lowest level from May 2023 until now), and soyoil deliveries were 220,000 tons (-27%).

- According to FAS USDA forecast, in 2024/25, wheat production in Tunisia will reach 1.25 million tons, including 1.13 million tons of hard wheat. In 2023/24, the total production was 0.441 million tons, including 0.427 million tons of hard wheat. Barley production is projected to reach 0.6 million tons (0.089). Wheat imports for the new season will be 1.8 million tons (2.2), and barley imports are expected at 0.5 million tons (0.95).