Grain Highlights 08.04.2024

According to the forecast of the Federation of Indian Millers in 2024, the wheat harvest in the country will be 105 million tons (-6.25% compared to 2023).

- During the past week, 480,400 tons of wheat were exported from the Russian port of Novorossiysk (-106,500 compared to the previous week). The largest clients were Egypt with 149,200 tons, Saudi Arabia with 55,700 tons, Kenya with 51,800 tons, and others.

- From July 1, 2023, to April 10, 2024, Ukraine exported 36.439 million tons of grain (38.824 million tons the previous year), including 1.58 million tons in April (848,000 tons). Exported were 14.316 million tons of wheat (474,000 tons), 2.105 million tons of barley (143,000 tons) and 19.724 million tons of corn (961,000 tons).

- According to Oil World data for 2023, rapeseed meal consumption in the EU reached 14.4 million tons (+16% compared to 2022). Soybean and sunseed meal consumption decreased by 5%.

- According to FranceAgriMer data as of April 1, 2024, 65% of soft wheat sowings in France are in good and excellent condition (66% the previous week and 93% the previous year). This indicator is the lowest since 2020.

- According to the Buenos Aires Grain Exchange data as of April 5, 2024, 11.1% of the corn fields in Argentina have been harvested (+5.4% for the week). It is noted that the average yield is very high for the beginning of the campaign - 9.26 tons/hectare. The forecast for the total production for the season has been reduced by 4.5 million tons to 52 million tons.

- In 2024/25, wheat areas in Australia will increase by 1-3%, barley areas will increase by 3-15%, but canola areas will decrease by 4-20%. Thus, the wheat production will reach 26-29.9 million tons, barley production is projected within 11.5-12.8 million tons, and canola production is expected to be within 4.6-5 million tons.

- China's Ministry of Agriculture forecasts a corn production in the country of 296 million tons in 2024, which will be the fourth consecutive record year (+2.4% compared to 2023).

- According to the forecast of the Federation of Indian Millers in 2024, the wheat production in the country will be 105 million tons (-6.25% compared to 2023). India's Ministry of Agriculture forecasts a production of 112 million tons.

- According to the Kasikorn Research Center forecast for 2024, corn imports in Thailand will reach 1.4 million tons (+5.2% compared to 2023). Deliveries for the period January - February are 240,000 tons (+31.73%).

- Post forecasts sunseed oil imports into Egypt in 2024/25 of 700,000 tons. The forecast for 2023/24 has been increased to the same level of 700,000 tons, while for 2022/23 the indicator was 350,000 tons.