Grain Highlights 09.01.2024

According to data from the Australian Bureau of Meteorology, the abundant rainfall in southeastern parts of Australia in December has improved the prospects for the upcoming sorghum and cotton productions.

- During the past week, 377,600 tons of wheat were exported from the Russian port of Novorossiysk, including 104,500 tons to Bangladesh, 66,000 tons to Indonesia, 62,100 tons to Kenya, 54,000 tons to Pakistan, and others.

- According to Oil World data, rapeseed processing capacity in the EU reached 24.4 million tons annually in 2023 (compared to 22.58 million tons in 2022 and 22.81 million tons in 2021).

- According to data from the Rosario Grain Exchange, in 2022/23, Argentina's agricultural exports reached 23.6 million tons (a 39% decrease compared to 2021/22). Corn exports decreased by 33% to 24.3 million tons, while wheat exports decreased by 76% to 3.6 million tons. For 2023/24, the wheat production is projected to be 14.5 million tons, soybean production is expected at 50 million tons, and corn production is projected to reach 56 million tons.

- According to the Australian Bureau of Meteorology, the abundant rainfall in southeastern parts of Australia in December improved the prospects for the new sorghum and cotton crops. However, Western Australia experienced rainfall 40.6% below the normal level. Little rainfall is expected in Western Australia, and significant rainfall is anticipated in the southeastern regions from January to March, suggesting no significant change in the situation.

- Jordan is conducting a tender to purchase 120,000 tons of milling wheat with delivery scheduled between March 16 and May 15, 2024. In the previous tender, 120,000 tons of milling wheat were purchased at a price of USD 276.75/ton C&F.

- Algeria has announced a tender to purchase at least 50,000 tons of hard wheat. Additionally, a tender has been announced for the purchase of 30,000 tons of feed barley with delivery set for February 1–15.

- Tunisia is seeking to buy 50,000 tons of durum wheat and 50,000 tons of barley with deliveries in February.