In November, Russia exported 3.9 million tons of grain, including 2.9 million tons of wheat (down 32% compared to October and 21% compared to November 2022). The largest buyers of grain since the beginning of the season are Turkey with 3.6 million tons, Iran with 3.5 million tons, and Egypt with 2.8 million tons.

During the past week, grain exports from the Russian port of Novorossiysk were 390,100 tons (up by 168,200 compared to the previous week). The exported quantities include 362,300 tons of wheat and 27,800 tons of peas. Wheat customers include Indonesia with 131,800 tons, Nigeria with 53,200 tons, and Libya with 31,700 tons.

From July 1 to December 4, 2023, Ukraine exported 13.402 million tons of grain (15.566 million tons a year earlier), including 303,000 tons in December (393,000 tons). The exported quantities include 5.925 million tons of wheat (16,000 tons), 876,000 tons of barley (2,000 tons), and 6.467 million tons of corn (287,000 tons).

As of December 1, 2023, Bulgaria lifted the ban on imports of Ukrainian wheat, corn, sunseed, and rapeseed.

Strategie Grains has increased its forecast for rapeseed production in the EU in 2023/24 to 19.76 million tons (19.74 in November and +1.6% compared to 2022/23). The sunseed production will be 10.05 million tons (10.1 and +7%), and soybean production is projected at 2.83 million tons (2.99 and +13%).

According to preliminary information from the German Statistical Office, in 2023, soybean areas in the country were 44.8 thousand hectares (down by 6.7% compared to 2022), yields increased by 1.6 tons/hectare, and the production was 122,100 tons.

According to Agrus Agrutel's forecast for 2024/25, wheat production in Romania will be 10.09 - 11.15 million tons. The production will exceed 10 million tons for the sixth time in the last eight years. The areas will increase to 2.3 million hectares (2.18), and the yield remains unchanged at 4.62 tons/hectare.

StoneX has lowered its forecast for soybean production in Brazil in 2023/24 by 3.1 million tons to 161.9 million tons (154.6 in 2022/23). Exports will reach 103 million tons (down by 1 and 98.1). The corn production forecast is reduced to 126 million tons, including the first corn production of 26.5 million tons (down by 0.3 and 26.5) and a second corn production of 97.3 million tons (down by 1.7 and 102.2).

According to market operators, South Korean NOFI has purchased 132,000 tons of corn from the United States or South America at prices ranging from 255.35 to 262.49 USD/ton C&F with delivery in February.

Algeria has announced a tender to purchase at least 50,000 tons of hard wheat with delivery from January 01 to February 16, 2024.