Grain Highlights 16.01.2024

During the period of January 1-15, Russia exported 1.7 million tons of grain, including 1.433 million tons of wheat, 171,300 tons of corn, and 95,000 tons of barley.

- During the period of January 1-15, Russia exported 1.7 million tons of grain, including 1.433 million tons of wheat, 171,300 tons of corn, and 95,000 tons of barley. The largest customer was Egypt with 257,000 tons of grain, followed by Pakistan with 176,600 tons and Bangladesh with 155,000 tons.

- According to preliminary data for 2023, Russia exported 1.7 million tons of rapeseed oil, which is +170% more than the previous year. The largest customer was China with 1.46 million tons of production.

- According to USDA data as of December 1, 2023, wheat stocks in the United States were 38.4 million tons (+8% compared to December 2022), including durum stocks of 1.1 million tons (-14%), corn stocks of 309.1 million tons (+13%), sorghum stocks of 4.8 million tons (+18%), barley stocks of 3.1 million tons (+3%), and soybean stocks of 81.6 million tons (+1%).

- AgRural has lowered its forecast for soybean production in Brazil for the 2023/24 season by 9 million tons to 151.1 million tons.

- According to ABS data for November, Australia exported 544,000 tons of canola (+43% compared to October and 761,700 tons in November 2022). Germany received 129,900 tons, the UAE received 119,500 tons, and France received 118,200 tons.

- The Egyptian state-owned company GASC has announced a tender to purchase 30,000 tons of soyoil and 10,000 tons of sunseed oil with deliveries scheduled for February 25 - March 25, 2024.

- According to the International Energy Agency, by 2030, the demand for biofuels for automotive transport will constitute 6% of its total consumption. In 2022, 2.2 million barrels of biofuels were consumed daily, accounting for 5% of the total fuel consumption in automotive transport of 41.3 million barrels. By 2030, the quantities are expected to reach 3 million barrels per day, representing 7% of total consumption.