SovEcon has raised its forecast for wheat exports from Russia in 2023/24 to a record 48.6 million tons (up from the previous estimate of 48.1 million). Barley exports will be 5.4 million tons (4.6), while corn exports will remain at 4.4 million tons. The total grain export will be 60.7 million tons (59.1).

According to a forecast by Rusagrotrans, Russia is expected to export a record 5.45 - 5.5 million tons of wheat in September.

As of the beginning of September, Ukraine has sown winter grain crops and rapeseed for the 2024/25 crop on 699,700 hectares, including 654,900 hectares of rapeseed, 44,800 hectares of wheat, and 1,200 hectares of barley.

According to the latest forecast by Strategie Grains, the rapeseed production in the EU for 2023/24 will reach 18.9 million tons (down from the previous estimate of 19.3 million and 19.4 in 2022/23). Anticipated harvesting campaings in Australia and Canada and for soybeans in South America will help control rapeseed prices in the EU in the coming months. The sunseed production will be 10.3 million tons (down 0.2 million tons and up 10%), and soybean production is expected at 2.84 million tons (2.87 and up 14%).

According to government data, Brazil exported 4.2 million tons of corn from August 21 to 31. Since the beginning of the 2022/23 season, exports have reached 16.9 million tons (a 16% increase compared to 2021/22). Soybean exports were 3.2 million tons during this period, and since the start of the season, they have reached 80.8 million tons (a 25% increase).

According to AgRural data as of August 31, 2023, 88% of the areas planted with second corn crop in Brazil have been harvested (a 5% increase for the week). Planting of first corn crop for the 2023/24 season has been completed on 13% of the planned areas (a 5% increase and 9% compared to the previous season).

Abares has lowered its forecast for the 2023/24 wheat production in Australia to 25.4 million tons (down from the previous estimate of 26.2 million). The barley production is projected at 10.5 million tons (9.9), and canola production will be 5.2 million tons (4.9).

In August, India imported a record 1.85 million tons of edible oils (compared to 1.76 in July and an average of 1.17 per month in 2021/22). Palm oil deliveries were 1.12 million tons (1.09), sunseed oil imports were 365,000 tons (up 11.5%), and soyoil imports reached 355,000 tons (up 3.7%).

Iran is seeking to purchase 180,000 tons of corn and 120,000 tons of soymeal with deliveries from September 20 to October 20, 2023.