Grain Highlights 01.05.2024

According to USDA data as of 28.04.2024, in the USA, corn has been planted on 27% of the planned areas /23% last year and 22% on average for the last five years/.

- From the beginning of the season until 01.05.2024, Ukraine exported 41.365 million tons of grain /41.595 in the previous year/, including 6.314 million tons in April /3.619/. Wheat exports amounted to 15.778 million tons /1.936/, barley exports reached 2.202 million tons /231,000/, and corn exports were 22.906 million tons /4.136/.

- Turkey conducted a tender for the sale of 100,000 tons of durum wheat. The highest proposed price came from Viterra – 371.71 USD/ton FOB. It is worth noting that the deal is for the export of durum wheat from Turkey, not for import.

- According to USDA data as of 28.04.2024, in the USA, corn has been planted on 27% of the planned areas /23% last year and 22% on average for the last five years/. Soybeans have been planted on 18% of the planned areas /16% and 10%/, and spring wheat on 34% /10% and 19%/. 49% of winter wheat crops are in good to excellent condition /28% and 23%/.

- Grain ports at the Rosario port are blocked due to a strike by workers opposing planned government reforms. Export of soybeans, corn, and wheat has been halted.

- The government of India has already purchased 19.61 million tons of wheat from local farmers, exceeding the minimum wheat requirement of 18.4 million tons. Planned purchases will be within the range of 30 – 31 million tons of wheat /26.2 in 2023/.

- During the period from 01.05 – 31.12.2024, the government of Morocco will subsidize wheat imports due to the expected poor production.