Grain Highlights 04.04.2024

In 2024, India's rapeseed production is forecasted to reach a record 12.09 million tons according to the SEA forecast (+7% compared to 2023).

- In March, 1.49 million tons of sunseed were processed in Ukraine, which is the highest monthly level since the beginning of the year (+9% compared to February and +10% compared to March 2023). Since the beginning of the season, processing has reached 9.3 million tons (+11%). For the entire season, processing is expected to reach 13.3 – 13.8 million tons (-4%).

- According to Safras&Mercado data as of March 28, 2024, in Brazil, 14.62 million hectares were planted with second corn crop, or 99.6% of the planned areas. A year earlier, 99.4% of the planned areas were planted, totaling 15.47 million hectares (97.5% on average for the last five years).

- In 2024, India's rapeseed production is forecasted to reach a record 12.09 million tons according to SEA's forecast (+7% compared to 2023). Acreage is increasing by 5% to 10 million hectares.

- Iran has announced a tender to purchase 120,000 tons of corn from Brazil, the EU, and the Black Sea region, and 120,000 tons of feed barley from the EU, the Black Sea region, and Kazakhstan. Deliveries will be within June-July.

- Jordan has purchased 60,000 tons of feed barley of unspecified origin at a price of 219.50 USD/ton C&F with delivery in August, indicating a new production.

- Tunisia is seeking to purchase 50,000 tons of soft wheat. The lowest offered selling price is 232.95 USD/ton C&F.

- In the new season, Morocco plans to import 5 million tons of soft wheat. The country's production is expected to be low due to reduced acreage to 2.3 million hectares (3.65 in 2023). The total grain production (soft wheat, hard wheat, and barley) will reach 2.5 million tons (5.5). During the period June 2023 - March 2024, deliveries of soft wheat amount to 4.13 million tons, including from France 2.28 million tons, Germany 656,000 tons, Russia 301,000 tons, Romania 297,000 tons, and Lithuania 202,000 tons. Wheat reserves in the country are sufficient to meet domestic demand for the next 3 months.