Grain Highlights 17.12.2024

During the period December 1–16, Russia exported 1.765 million tons of wheat (+13.5% compared to December 2023), 69,000 tons of barley (163,000), and 82,000 tons of corn (277,000).

During the period December 1–16, Russia shipped 273,000 tons of wheat to Saudi Arabia, 248,500 tons to Egypt, 233,600 tons to Bangladesh, 102,000 tons to Kenya, and 99,000 tons to Turkey.

Between December 1–15, Ukraine exported 1.8 million tons of grain and oilseeds (-32% compared to the same period in November). This included 200,000 tons of wheat, 880,000 tons of corn, and only 190,000 tons of sunseed oil. During November 1–14, exports totaled 547,000 tons of wheat, 1.26 million tons of corn, and 237,000 tons of sunseed oil. In December, 202,000 tons of sunseed meal were exported (157,000 tons in November), including 66,000 tons to China, 53,000 tons to France, and 19,000 tons each to Egypt and Poland.

Since the start of the season (September–October), wheat exports from Kazakhstan to Uzbekistan have reached 732,000 tons, the highest level in the last three seasons (514,000 in 2023, 600,000 in 2022).

According to the Buenos Aires Grain Exchange, corn planting has been halted in northern Argentina due to insufficient soil moisture. So far, 3.5 million hectares of corn have been sown out of the planned 6.3 million hectares. As of December 11, 2024, 51% of the corn crops are in good or excellent condition (43% the previous week), 46% in satisfactory condition (56%), and 3% in poor condition (1%).

According to the Australian Bureau of Statistics, barley exports from Australia reached 130,010 tons in October, including 90,680 tons of feed barley and 39,330 tons of malting barley.

Formal and informal import restrictions on grains and oilseeds in China have led to a soybean shortage in the southern regions of the country. Processors have halted operations, awaiting deliveries from ports. The price of soymeal in Guangdong province increased by 7% in just the past week. Amid declining domestic demand, authorities have already restricted the import of corn, then barley and sorghum, and subsequently other crops. The goal is to maintain high domestic prices to stimulate farmers. However, someone must bear the cost, and that is the end consumer. It is clear that China's agricultural production remains highly inefficient.

Indonesia officially implemented the use of B40 biodiesel starting January 1, 2025. Annual carbon dioxide emissions are expected to decrease by 40 million tons. Under B35, the reduction was 32 million tons. The use of B40 fuel will increase palm oil consumption by 1.5–1.7 million tons.