Grain Highlights 11.05.2024

The Egyptian state-owned company GASC has purchased 73,000 tons of sunseed oil and 29,000 tons of soyoil.

As of 02.05.2024, in Ukraine, 3.407 million hectares have been sown with spring cereals (60.8% of the plan), including 240,700 hectares with wheat (97.8%), 775,700 hectares with barley (94.8%) and 1.961 million hectares with corn (505%). Sunflower has been sown on 2.968 million hectares (56%), and soybeans on 566,700 hectares (28%).

The Grain Exchange in Rosario has reduced its forecast for the 2023/24 corn production in Argentina from 50 million tons to 47.5 million tons due to pest invasion. The soybean production is projected at 50 million tons. Harvesting of crops has been delayed due to heavy rainfall.

The Iranian government does not plan to import wheat in 2024/25 (April 2024 - March 2025). In 2023/24, with a production of 10.5 million tons, 1 million tons of wheat were imported.

Egypt's state-owned company, GASC, has purchased 73,000 tons of sunseed oil and 29,000 tons of soyoil. The price of sunseed oil is 1,000 USD/ton with delivery from 10.06 to 10.07.2024, and soyoil is priced at 994 USD/ton with delivery within 16.06 - 10.07.2024.

According to government data, wheat consumption in Jordan in 2023 was 1.099 million tons (1.096 in 2022). Barley consumption reached 0.878 million tons (1.08).