Grain Highlights 12.09.2024

According to a forecast by FAS USDA Sofia, Bulgaria's rapeseed production in 2024/25 will be 190,000 tons (209,000 in 2023/24 and 299,000 in 2022/23), and the sunseed production will be 1.7 million tons (1.78 and 2.14).

- According to a forecast by FAS USDA Sofia, Bulgaria's rapeseed production in 2024/25 will be 190,000 tons (compared to 209,000 in 2023/24 and 299,000 in 2022/23), and the sunseed production will be 1.7 million tons (1.78 and 2.14). In 2023/24, rapeseed imports to Bulgaria were 183,000 tons.

- According to a forecast by Strategie Grains, the EU's corn production in 2024/25 will be 57.9 million tons (60 in the previous estimate and -5 compared to 2023/24), marking the third-lowest figure in the last 10 years. Imports from Brazil and Canada will increase amid reduced supply from Ukraine. The soft wheat production will be 114.4 million tons (116.5 and 127.2), and the barley production is projected at 50.5 million tons (50.6 and 47.6).

- Between July 1 and September 8, 2024, 3.85 million tons of corn were delivered to the EU (compared to 3.21 during the last season). The main suppliers were Ukraine with 2.29 million tons, the USA with 468,880 tons, Brazil with 371,090 tons, Canada with 334,780 tons, and Serbia with 299,870 tons. The largest importer was Spain with 1.28 million tons.

- Between January and June, biodiesel exports from Germany totaled 1.7 million tons (+16% compared to the previous year). Imports also increased by 24% to 906,700 tons.

- FAS USDA predicts Kazakhstan's wheat production to reach 14.2 million tons (down from 15.8 in the August forecast) and barley production is estimated at 3 million tons (down from 3.4).

- A forecast by Abares predicts Australia's winter crop production will increase by 7% compared to the June estimate, reaching 55.2 million tons, which is 17% higher than in 2023/24. In 2024/25, the wheat production will reach 31.8 million tons (+23% compared to 2023/24 and +7% compared to the 10-year average). The rapeseed production is projected at 5.5 million tons (-8%).

- In August, India's vegetable oil imports totaled 1.563 million tons (compared to 1.866 in August 2023). Between November and August, imports reached 13.688 million tons (compared to 14.121). Palm oil deliveries in August were 797,482 tons (-26% compared to July), soyoil deliveries were 454,639 tons (the highest level in 25 months), and sunseed oil deliveries reached 284,108 tons (-17%).

- In the new season, Iraq may import 2.5 million tons of grain from Russia, including 2 million tons of wheat. Monthly imports will be 150,000–200,000 tons.

- Egypt's state company purchased 430,000 tons of wheat from Russia in a private deal without a tender. The purchase price was 233 USD/ton from the Russian supplier, with delivery to Egypt in October.

- Algeria announced a tender to purchase 160,000 tons of feed corn and 35,000 tons of feed barley.