Grain Highlights 14.05.2024

Farmers in Russia will replant 500,000 hectares with all crops. Crops affected by frosts during the past week will be replanted.

- Farmers in Russia will replant 500,000 hectares with all crops. Crops affected by frosts during the past week will be replanted. The total area under all crops is 84.5 million hectares, including 20 million hectares of winter crops. According to data from the country's Ministry of Agriculture, 95% of the crops are in good condition.

- In April, Ukraine exported 560,000 tons of sunseed meal according to data from APK-Inform /+41% compared to March/, marking one of the highest levels from February 2022 to date. China imported 205,000 tons of sunseed meal, while the EU imported 193,000 tons. From September 2023 to April 2024, exports reached 3.36 million tons, the second-highest historical result after the 2019/20 season's 3.61 million tons.

- According to data from the Australian Bureau of Statistics, Australia exported 523,900 tons of canola in March, compared to 762,200 tons in February and 597,600 tons in March 2022/23. The largest recipients of canola were Germany with 126,700 tons, Japan with 103,500 tons, and the UAE with 65,500 tons. Since the beginning of the season, exports have totaled 3.2 million tons /3.4/.

- In April, China imported 8.57 million tons of soybeans, the highest monthly level in history. Imports of 11 million tons of soybeans are expected from May to June, with the figure standing at 27.15 million tons for the first four months of the year /-3%/.

- In April, vegetable oil imports to India reached 1.3 million tons /+13% compared to March/. Imports of palm oil amounted to 684,100 tons /+40.9%/, sunseed oil reached 234,800 tons /+150%/, and soyoil imports were 385,500 tons /+76.4%/.

- Consumption of soymeal in Indonesia is expected to increase by 2% in 2024/25 compared to 2023/24, reaching 5.75 million tons. The consumption of soymeal for poultry feed accounts for 80% of the total consumption. Imports of the product in the new season will reach 5.8 million tons /+0.1%/.

- According to USDA data, Egypt will import 12 million tons of wheat in 2024/25 /11 million in 2023/24/. Imports during the season will also increase for Algeria to 8.5 million tons, Morocco to 7.5 million tons, and Nigeria to 4.8 million tons. In total, North African countries will import 31.5 million tons of wheat /30.1/.