Grain Highlights 19.10.2023

Romania and Bulgaria are jointly demining the waters of the Black Sea around their coasts to ensure unimpeded access for Ukrainian ships carrying grain and other goods.

As of October 1, 2023, Russia has harvested 126 million tons of grain and 7.1 million tons of sunseed from 36% of the total cultivated area. The sunflower seed stocks held by the country's agricultural organizations are 2.513 million tons, which is more than twice the amount from the previous year.

Romania and Bulgaria are jointly demining the waters of the Black Sea around their coasts to ensure unimpeded access for Ukrainian ships carrying grain and other goods. Bulgaria is contributing 6 ships, while Romania is contributing one ship. The operation is being carried out within shortened deadlines.

In 2023/24, Kazakhstan plans to export 5 million tons of grain according to government forecasts. The total production is expected to reach 15.6 million tons.

According to AGPM's forecast for 2023/24, the corn production in France is expected to be 13.1 million tons (a 23% increase compared to 2022/23 and an average of 13 million tons over the last five years). The average yield is 10.1 tons per hectare (7.83).

Due to drought in the northern regions of Brazil around the Amazon River, exporters are forced to change their delivery routes. The forecast for record soybean exports in 2023 from the country remains unchanged at 99 million tons, and corn exports are projected at 52-53 million tons. During the period from January to August, 44% of Brazilian corn exports were conducted through four regional northern ports and approximately 31% through Santos.

The Brazilian government has allocated 79 million USD to subsidize wheat trade in the country for the 2023/24 season. According to StoneX, this is expected to support trade with around 1 million tons of wheat. The goal is to create conditions for increasing wheat production in Brazil.

Thailand has purchased 60,000 tons of animal feed wheat at a price of 264 USD/ton C&F from the Black Sea region at a tender.