In November, the export of oilseeds from Russia was 241,200 tons, including 32,100 tons of sunseed, 1,800 tons of soybeans, and 111,700 tons of flax.

AgRural has lowered its forecast for the soybean production in Brazil for the 2023/24 season by 4.4 million tons to 159.1 million tons. The plantations in Mato Grosso are not in good condition. As of November 30, 2023, 85% of the planned areas have been planted (91% the previous year). According to the Institute of Agricultural Economics in Mato Grosso, the soybean production will be 42.1 million tons (45.6 in 2022/23), and corn production is projected at 43.8 million tons (51.2).

According to Anec's forecast for 2023, corn exports from Brazil are expected to reach 55.95 million tons (+25% compared to 2022), setting a new record. Soybean exports will increase by 14 million tons and will also be a record.

Refinitiv Commodities Research has lowered its forecast for the corn production in Argentina for the 2023/24 season by 3% to 51.9 million tons. The soybean production is expected to reach 46.5 million tons (-4% and 25).

According to data from the Australian Bureau of Meteorology, rainfall in the country was 38% above normal in November. The excess moisture has reduced yields and the quality of wheat.

According to data from the Chinese Customs Service, soybean imports into the country were 7.92 million tons in November (+7.8% compared to November 2022). Over the January-November period, imports amounted to 89.63 million tons (+13.3%).

Algeria is looking to purchase 120,000 tons of feed corn from Argentina with delivery by January 5, 2024, and 35,000 tons of soymeal.