Grain Highlights 25.09.2024

In 2024, sunseed areas in the United States amounted to 289,400 hectares, 46% less than in 2023.

- In October, the export tax on sunseed meal from Russia will be 2,927.6 rubles/ton (compared to 2,880.7 in September).

- Between July 1 and September 25, 2024, Ukraine exported 9.764 million tons of grain (compared to 6.152 million a year earlier), including 2.297 million tons in September (1.565 million). A total of 5.591 million tons of wheat were exported (1.808 million in September), 1.245 million tons of barley (0.132), and 2.664 million tons of corn (0.328).

- In 2024, sunseed areas in the United States amounted to 289,400 hectares, 46% less than in 2023. The global sunseed market is expected to be tight in 2024/25. Oil World has reduced its forecast for the Russian sunseed production to 17.1 million tons (from 18.4 in 2023) and for Ukraine to 13.4 million tons (from 14.9). The global 2024/25 sunseed production is projected to be 50.6 million tons, down 5.3 million compared to 2023/24, marking the lowest level in the past four years.

- Under normal weather conditions, the grain and oilseed production in Argentina will reach 143 million tons, according to a forecast by the Rosario Grain Exchange. With this figure, exports are expected to be 101.5 million tons. In a pessimistic scenario, the total production would be 128.8 million tons.

- According to data from China's General Customs Administration, 12.14 million tons of soybeans were imported in August, including 10.24 million tons from Brazil and only 202,000 tons from the United States. From January to August, imports from Brazil totaled 53.8 million tons (+217% compared to the previous season), while imports from the US amounted to 12.8 million tons (-73%). According to Anec, Brazil is expected to export 5.82 million tons of soybeans in September (compared to 7.97 million in August).

- According to market operators, Thailand has purchased 195,000 tons of feed wheat of various origins with delivery between December and February.

- Algeria has announced a tender to purchase 240,000 tons of feed corn from Argentina or Brazil, with delivery in October.

- Jordan has canceled a tender to purchase 120,000 tons of milling wheat of unspecified origin. A similar tender has been announced for October 1, 2024.