Grain Highlights 25.09.2023

In 2022/23, China imported 5.1 million tons of canola. The high figure is due to the large canola production in Australia in 2022 and renewed imports from Canada.

During the past week, Russia exported 201,900 tons of grain from the Novorossiysk port (compared to 317,500 tons the previous week), with the entire quantity being wheat. The main customers were Iran with 66,000 tons, the UAE with 66,000 tons, Jordan with 63,000 tons, Saudi Arabia with 60,000 tons, Pakistan with 54,300 tons, and Italy with 8,300 tons.

In October, the export tax on Russian sunseed oil will remain at zero, while the export tax on sunseed meal will be 7,519.6 rubles per ton (compared to 7,995.3 in September).

In August, Ukraine exported 4 million tons of grain, including shipments via river and land routes.

According to FranceAgriMer data as of September 18, 2023, corn harvesting campaign in France has been completed on 6% of the planned areas (an increase of 5% for the week, 24% compared to the previous year, and an average of 10% for the last five years). 81% of the crops are in good or excellent condition (a decrease of 1% compared to the previous week and 43% compared to the previous year).

As of September 13, 2023, Argentine farmers have pre-sold only 1.51 million tons of wheat from the 2023/24 crop, which is the lowest level in the past seven years (compared to 5.28 million tons in 2022/23).

In 2022/23, China imported 5.1 million tons of canola. The high figure is due to the large canola production in Australia in 2022 and renewed imports from Canada. A decrease in imports is expected for 2023/24 due to forecasted reductions in Canadian production to 17.37 million tons (a 7% decrease) and Australian production to 5.15 million tons (a 38% decrease).

South Korea's KFA has purchased 65,000 tons of feed corn from South Africa or South America at a price of 263.75 USD/ton C&F with delivery in January 2024.

Iran is once again conducting a tender to purchase 180,000 tons of feed corn and 120,000 tons of soymeal.

Egyptian authorities deny reports that the country has canceled a deal to purchase 480,000 tons of Russian wheat, which was in negotiation two weeks ago.

Moroccan authorities forecast wheat imports of 2 million tons by the end of the year.