- According to SovEcon data, demand for Russian wheat has increased over the past two weeks. As of January 30, 2024, the concluded sales contracts amount to 2.3 million tons of wheat, compared to 1.9 million tons two weeks earlier. Starting from February 15, 2024, there will be an export quota of 24 million tons in total for wheat, corn, barley, and rye. The quota is effective until June 30, 2024.

- According to USDA data, in December, 6.18 million tons of soybeans were processed in the United States, marking the highest monthly figure in history.

- On January 30, 2024, soyoil futures on the Dalian Commodity Exchange (May contract) decreased by 3.8% to 1,003.79 USD/ton, reaching the lowest level in the last 7 months. Soymeal futures also decreased to 410.21 USD/ton, the lowest since July 2023. Declining demand from livestock is at the core of the price decline. Another factor is the expected good soybean production in South America.

- The Indonesian government has increased the base prices of crude palm oil from 774.93 USD/ton in January to 806.4 USD/ton in February. The export tax remains at 33 USD/ton, and the export levy at 85 USD/ton.

- A group of Filipino importers has purchased 96,000 tons of feed wheat from Australia at a price of 280 USD/ton C&F with delivery within April-May.

- The wheat production in Iraq for 2023/24 is estimated at 4.2 million tons according to USDA (compared to 3 million in 2022/23). However, the Ministry of Agriculture in Iraq estimates the production at 6 million tons, sufficient to cover domestic consumption throughout the year.