Grain Highlights 16.05.2024

FAS USDA predicts a corn production in Mexico in 2024/25 of 23.3 million tons (a record 28.1 million tons in 2023/24).

- According to the latest assessment by the Ministry of Agriculture of Russia, 830,000 hectares of crops (about 1% of all crops in the country) have been killed by frost.

- According to a forecast by Strategie Grains, in 2024/25 the wheat production in the EU will reach 123.5 million tons (+1.7 compared to 2023/24 and 126.1 in 2023/24), barley production is expected at 53 million tons (+0.5 and 47.4) and corn production is projected at 63.3 million tons (63.4 and 62.4).

- In 2024, the corn acreage in France will reach 1.44 million hectares (+9.6% compared to 2023 and -5% compared to the five-year average), spring barley areas will reach 502,000 hectares (496,000 compared to the previous estimate and +12.2% and -15.8%). The area with soft wheat will be 4.4 million hectares (4.39 in April and -7.5% compared to last year), the area with rapeseed remains unchanged at 1.33 million hectares (-0.8% compared to 2023).

- FAS USDA predicts a corn production in Mexico in 2024/25 of 23.3 million tons (a record 28.1 million tons in 2023/24).

- According to data from Safras&Mercado as of May 10, 2024, 86.4% of the first corn crop areas in Brazil have been harvested - 3.97 million hectares (85.5% a year earlier, 4.19 million hectares, and 89.1% on average over the past five years).

- In the first quarter of the year, Australia remains a key supplier of grains to Indonesia - 1.3 million tons (+18%). Argentina is second with 1 million tons (+340%), followed by Thailand with 655,000 tons, Canada with 639,000 tons, Russia, Ukraine, Vietnam, Brazil, Pakistan, and Myanmar.

- In June, the export tax on unrefined palm oil from Malaysia will remain unchanged at 8%.

- In 2024, the consumption of bioethanol in the Philippines will be 682,000 tons (+8%) and biodiesel consumption is estimated at 240 million liters (+0.8%) according to data from Oil World.