Grain Highlights 21.08.2024

From August 1st to 20th, Russia exported 4.235 million tons of grain (compared to 5.45 million tons in the same period last year), including 3.685 million tons of wheat (4.411), 419,000 tons of barley (870,000), and 130,000 tons of corn (167,000).

- From August 1st to 20th, Russia exported 4.235 million tons of grain (compared to 5.45 million tons in the same period last year), including 3.685 million tons of wheat (4.411), 419,000 tons of barley (870,000), and 130,000 tons of corn (167,000). Grain exports in August are expected to reach 6.5 million tons (7.7), including 5.6 million tons of wheat (6.5).

- In 2024, the area planted with rapeseed in Russia increased by 30% compared to 2023. A significant portion of the rapeseed in Russia is grown in the Asian part of the country, including the Far East.

- During the week of August 21st to 27th, the export tax on Russian wheat will be 828.4 rubles/ton (compared to 257.3 rubles/ton the previous week). The export tax on corn will be 344.5 rubles/ton (1,033.6 rubles/ton), while barley remains duty-free. These duties are calculated based on base prices of $214.5/ton for wheat, $205.2/ton for corn, and $180.9/ton for barley.

- Since the start of the 2024 harvesting season, 78 million tons of grain have been harvested in Russia, including 63 million tons of wheat.

- From July 1st to August 21st, 2024, Ukraine exported 6.044 million tons of grain (3.607 million tons in the same period last year), including 2.342 million tons in August (1.333). Exports included 2.834 million tons of wheat (1.467), 1.022 million tons of barley (0.422), and 2.167 million tons of corn (1.711).

- As of August 21st, 2024, 10 ships are either docked or expected at Bulgarian ports for export, including 9 for wheat and 1 for barley, carrying 300,900 tons of wheat and 33,000 tons of barley. These are significantly large quantities of wheat and are the first such shipments of the new season.

- According to European Commission data, 1.2 million tons of soybeans were delivered to the EU in the first six weeks of the season (1.5 million tons a year earlier). Imports from Brazil account for 75% of the total, at 863,000 tons, followed by the United States at 175,000 tons, Ukraine at 115,000 tons, and Canada at 39,000 tons.

- The harvesting campaign of winter barley in the United Kingdom is nearly complete. The average yield is 6.3 tons/hectare (11% below the five-year average). The average yield of rapeseed is 2.93 tons/hectare (9% lower). Wheat has been harvested on 37% of the areas, with yields down by 7%.

- In Serbia, the harvesting campaign of sunseed has begun. In July, the forecast for the average yield was 3 tons/hectare, but at the start of the campaign, the forecast is now 2.6 tons/hectare (2.9 in 2023). The production is currently expected to decrease by 10% compared to last year, with a pessimistic scenario projecting a possible decline of 25-30%.

- According to the Malaysian Palm Oil Board, the export tax on unrefined palm oil from Malaysia will remain at 8% in September.

- Algeria has announced a tender to purchase 120,000 tons of feed corn from Brazil or Argentina with September delivery. A tender has also been announced to purchase 35,000 tons of feed barley with September delivery and 40,000 tons of soymeal with September delivery.