Grain Highlights 31.05.2024

The planting of wheat for the 2024/25 season in Argentina started two weeks late. As of May 30, 2024, 601,400 hectares have been sown (9.7% of the plan and 20.2% of the average for the last five years).

- The Russian government does not intend to extend the export ban on durum wheat. The current restriction is in effect until May 31, 2024. Authorities report that frost in May has destroyed crops over 1 million hectares. In 2024/25, grain exports from Russia will be up to 60 million tons.

- For the week starting June 5, 2024, the export tax on Russian wheat will be 2,778.1 rubles/ton (previously 2,977.3 a week earlier), while barley and corn will remain with zero duties.

- From the beginning of the season until May 31, 2024, Ukraine has exported 46.273 million tons of grain (45.29 million a year earlier), including 5.318 million tons in May (3.403 million). Exported amounts include 17.33 million tons of wheat (1.544 million), 2.381 million tons of barley (177,000), and 26.484 million tons of corn (3.583 million).

- As of May 30, 2024, Ukraine has sown 5.505 million hectares with spring crops, which is 96.4% of the planned areas. In the past week, 104,800 hectares were sown. Corn has been sown on 3.895 million hectares (99.6%), sunseed on 5.124 million hectares (96.9%), and soybeans on 1.932 million hectares (97.1%).

- During the period from July 1, 2023, to May 26, 2024, the EU exported 27.8 million tons of soft wheat (29 million a year earlier). The largest exporters were France with 8.05 million tons, Romania with 6.06 million tons, Poland with 4.06 million tons, and Germany with 2.86 million tons. The biggest clients were Morocco with 3.77 million tons, Nigeria with 3.04 million tons, Algeria with 2.54 million tons, China with 2.01 million tons, and Egypt with 1.52 million tons. Barley exports reached 5.3 million tons (-14%), and corn imports were 16.7 million tons (-33%).

- According to data from FranceAgriMer, 61% of soft wheat crops in France are in good and excellent condition (63% a week earlier and 91% a year earlier), as well as 64% of winter barley crops (66% and 88%), 64% of durum wheat crops (64% and -22%), and 73% of spring barley crops (93% a year earlier).

- The planting of wheat for the 2024/25 season in Argentina started two weeks late. As of May 30, 2024, 601,400 hectares have been sown (9.7% of the plan and 20.2% of the average for the last five years). Rainfall is expected, which will allow farmers to plant 6.2 million hectares with the crop (5.9 million in 2023/24). Corn has been harvested on 30.1% of the areas, with 18.19 million tons of grain collected at an average yield of 8.05 tons/hectare. 11% of the crops are in good and excellent condition (4% a year earlier).