Grain Highlights 27.03.2024

27 Mar, 2024
Grain Highlights 27.03.2024
SovEcon has raised its forecast for the wheat production in Russia for 2024/25 by 0.4 million tons to 94 million tons, compared to 92.8 million tons in 2023/24.

- During the period from July 1, 2023, to March 27, 2024, Ukraine exported 34.199 million tons of grain (compared to 36.922 million tons the previous year), including 4.529 million tons in March (compared to 4.625 million tons). Wheat exports amounted to 13.504 million tons (12.623 million tons previously), barley exports reached 1.957 million tons (2.267 million tons previously), and corn exports were 18.447 million tons (21.714 million tons previously).

- From the beginning of the 2023/24 season until March 23, 2024, EU exports of soft wheat reached 22.8 million tons (a decrease of 2% compared to the previous year). The main exporters were France with 6.3 million tons, Romania with 5.2 million tons, Poland with 2.9 million tons, Germany with 2.2 million tons, and Lithuania with 2.2 million tons. Corn exports amounted to 3 million tons (a 57% increase), including 2.2 million tons from Romania.

- According to FEDOIL data, in February 2024, 3.285 million tons of oilseeds were processed in the EU, which is 215,000 tons less than the previous month and 204,000 tons more than in February 2023. Rapeseed processing amounted to 1.738 million tons (a decrease of 21,000 tons compared to the previous month and an increase of 154,000 tons compared to February 2023), soybean processing was 1.053 million tons (a decrease of 117,000 tons compared to the previous month and an increase of 24,000 tons compared to February 2023), and sunseed processing was 494,000 tons (a decrease of 77,000 tons compared to the previous month and an increase of 74,000 tons compared to February 2023).

- According to Oil World data, in February, canola processing in Canada amounted to 898,000 tons (compared to 937,000 tons in January and an increase of 86,000 tons compared to February 2023). Since the beginning of the season, processing has reached 6.4 million tons (compared to 5.7 million tons previously).

- In 2023/24, the corn production in South Africa is expected to reach 13.26 million tons (a decrease of 19.3% compared to 2022/23, or 16.43 million tons). The forecast in February was 14.36 million tons. The white corn production will be 6.28 million tons and yellow corn production is expected at 6.98 million tons.

- A group of millers from South Korea purchased 30,200 tons of milling wheat from the United States with delivery in July.

- On March 26, 2024, Jordan canceled a tender to purchase 120,000 tons of feed barley of unspecified origin. The next tender will be held on April 3, 2024.