Grain Highlights 09.10.2024

09 Oct, 2024
Grain Highlights 09.10.2024
According to data from Rusagrotrans, 5.26 million tons of wheat were exported from Russia in September (5.48 million a year earlier).

- The Ministry of Agriculture of Russia maintains its forecast for the 2024 oilseed production at 28 million tons. Harvesting has been completed on 91% of the areas.

- According to Rusagrotrans data, 5.26 million tons of wheat were exported from Russia in September (5.48 million a year earlier). From July to September, exports totaled 14.73 million tons (15 million), with the largest buyers being Egypt, Turkey, and Algeria.

- In Russia, 13 million hectares have been sown with winter crops, against a planned 20 million hectares. The campaign is challenging due to dry weather.

- From July 1 to October 9, 2024, Ukraine exported 11.41 million tons of grain (7.213 million a year earlier), including 962,000 tons in October (460,000). A strong positive balance remains compared to the previous year. Wheat exports amounted to 6.622 million tons (0.524), barley exports reached 1.446 million tons (0.123), and corn exports were 3.076 million tons (0.312).

- According to an FAS USDA forecast, Turkey's sunseed production in 2024 will be 1.25 million tons (-0.3 million compared to the previous estimate), the lowest level since 2015/16. Imports will reach 550,000 tons (+100,000 and 380,000).

- Data from Anec indicates that Brazil exported 1.77 million tons of corn from September 29 to October 5, 2024 (1.69 million a week earlier). Exports for October are expected to reach 6.68 million tons (6.42 million in September and 9.43 million in October 2023). In the first week of October, soybean exports totaled 1.26 million tons (0.919), with a forecast for October at 5.54 million tons (7.97 and 5.55).

- From January to September, 10.8 million tons of wheat were delivered to Egypt (8.3 million a year earlier).

- According to Safras & Mercado, Brazilian farmers have already sold 59% of their 2024 safrinha corn production, expected to reach 85.89 million tons. In 2023, they had sold 59.9% of the 99.1 million ton production, with a five-year average of 67.4%.

- In 2023/24, 19.5 million tons of wheat were exported from Australia. In August, exports totaled 1.21 million tons.