According to the latest forecast by IKAR, the corn production in Russia for 2023/24 is expected to reach a record 17 million tons (up from the previous estimate of 16 million and compared to 15.8 million in 2022/23). Exports are expected to reach 6.5 million tons (up from the previous estimate of 6 million). The total grain production in Russia is projected to be 142.2 million tons (up from 141.2), with exports of 65 million tons (up from 64.5).

As of October 20, 2023, Russia has harvested 137.2 million tons of grain, which is 10.9 million tons less than the previous year. The average yield is 3.08 tons per hectare (down from 3.33). The harvested wheat is 93.1 million tons, harvested barley reaches 21.7 million tons, and corn production reached 7.4 million tons. Additionally, the harvested sunseed is 13.2 million tons, harvested rapeseed reaches 4.3 million tons, and harvested soybeans reach 5.5 million tons. Winter crops were sown on 16.3 million hectares (up from 15.8).

During the past week, grain exports from the Russian port of Novorossiysk totaled 552,400 tons (an increase of 123,000 tons compared to the previous week). Wheat exports amounted to 528,100 tons, and barley exports were 24,300 tons. Wheat was delivered to Bangladesh (108,800 tons), Iran (68,000 tons), Sudan (65,500 tons), and Egypt (63,000 tons). Barley was exported to Tunisia.

A week ago, there were rains in Ukraine's wheat belt. Over the weekend, new rains fell, ranging from 30 to 75 liters per square meter. This will improve the condition of wheat crops.

Taiwan has announced a tender to purchase 52,000 tons of wheat from the United States with delivery scheduled for December to January.

Iran has announced a tender to purchase 180,000 tons of feed corn with delivery expected in November to December.