According to a government forecast from Russia, the grain production in the country for 2023/24 will be 140 million tons, including 93 million tons of wheat. So far, 18 million hectares have been sown with winter crops for 2023/24, and the total expected area for the season is 20 million hectares, which is an increase of 1.5 million hectares compared to 2022/23.

As of October 25, 2023, the concluded sales deals for Russian wheat are only 1.6 million tons, which is the lowest level since early June. In October, exports are expected to reach 4.2 million tons (compared to 4.5 million tons in October 2022).

According to data from the UK's Ministry of Agriculture, end-of-season wheat stocks for 2023/24 will be 17.3 million tons (a decrease of 1.3 million tons compared to 2022/23), with a production of 14 million tons (a decrease of 1.5 million tons). Wheat consumption is expected to be 15.1 million tons, an increase of 534,000 tons.

Yesterday, commodity funds in Chicago were net sellers of 4,000 contracts of corn, 3,500 contracts of soybeans, and 6,000 contracts of wheat.

According to Oil World data, in September, Argentina processed 1.9 million tons of soybeans, which is 1 million tons less than the previous year. In August, processing was 2.07 million tons. During the month, soybean imports into the country were 647,000 tons, including 371,000 tons from Paraguay, 234,000 tons from Brazil, and 42,000 tons from Bolivia. Sunflower seed processing was 345,000 tons (202,000). In the first 9 months of the year, soybean processing reached 21.4 million tons (29.6), and sunflower seed processing was 3.2 million tons (2.9). The total processing of oilseeds is 24.8 million tons (32.7).

The government of India is considering the removal of import duties on wheat in the country. India's annual wheat consumption is about 108 million tons. According to official estimates, the wheat production is 112.74 million tons, but market operators believe there will be a 10% decline from the official data.

Taiwan has purchased the planned 52,000 tons of wheat from the United States at prices ranging from 270.06 to 340.98 USD/ton C&F, depending on the quality of the product. Delivery will be between December 18, 2023, and January 1, 2024.

The government of Pakistan will allow the import of 1 million tons of wheat due to a shortage in the country. The expected average delivery price is 310 USD/ton C&F.