Grain Highlights 05.08.2024

In July, 3.6 million tons of wheat were exported from Russia (3.1 million average for the last five years), according to Rusagrotrans data.

- In July, 3.6 million tons of wheat were exported from Russia (3.1 million average for the last five years), according to Rusagrotrans data. The largest buyers were Egypt with 0.5 million tons, Morocco with 0.34 million tons, Saudi Arabia with 0.19 million tons, Kenya with 0.18 million tons, and Turkey with 0.1 million tons. During the month, barley exports were 1 million tons (1.25 million), with Saudi Arabia, Libya, and Jordan being the main customers. Corn exports were 0.3 million tons.

- In July, 1.488 million tons of wheat were exported from the Russian port of Novorossiysk, a 12% decrease compared to July 2023. The main clients were Egypt with 224,800 tons, Morocco with 170,100 tons, Kenya with 150,000 tons, Saudi Arabia with 132,000 tons, Tanzania with 112,300 tons, Libya with 109,000 tons, and Nigeria with 103,300 tons.

- In Belarus, 6.178 million tons of cereals and rapeseed have been harvested, including 5.127 million tons of grain and 1.051 million tons of winter rapeseed. The spring barley harvesting campaign has been completed on 81.1% of the areas, and wheat has been harvested on 71% of the areas.

- According to a Copa-Cogeca forecast, in 2024, the area planted with cereals in the EU will be 48.569 million hectares, a 3.5% decrease compared to 2023. The cereal production will reach 257.32 million tons (269.899 million tons in 2023). The soft wheat production is projected at 117.516 million tons, a 6.4% decrease, durum wheat production is estimated at 6.586 million tons, a 5.7% decrease, barley production is estimated at 43.047 million tons, an 8.9% decrease, and corn production is expected to reach 62.381 million tons, a 0.5% decrease.

- In 2024/25, the rapeseed production in the EU will be 18.176 million tons, a 7.8% decrease compared to 2023/24. The sunseed production will be 10.735 million tons, a 9.7% increase, and soybean production is projected to reach 3.074 million tons, a 10.5% increase. The total production of oilseeds will reach 32.293 million tons, a 1% decrease.

- In July, the EU imported 610,000 tons of soymeal from Brazil (940,000 tons a year earlier), 520,000 tons from Argentina (220,000 tons), and 50,000 tons from the United States (30,000 tons).

- According to Oil World data, in 2023/24, the global processing of rapeseed and canola reached a record 77.2 million tons, a 0.6% increase compared to 2022/23. The largest growth was in the EU at 25.28 million tons, Canada at 2.4 million tons, China at 2.3 million tons, and India at 1.7 million tons. Sunseed processing was 56.2 million tons (50.9 million), with the largest growth in Russia at 5 million tons and Ukraine at 4.2 million tons.

- In July, palm oil deliveries from Malaysia to the EU were 53,000 tons (89,000 tons a year earlier), accounting for a 40.3% share. Indonesia had a delivery share of 35.9% for the month.