- IKAR has once again lowered its forecasts for the wheat production in Russia for 2024/25, this time by 2.5 million metric tons, to 83.5 million metric tons. The forecast range has been widened to 79 – 87 million tons. Export potential has been reduced to 45 million  tons (from 47 in the previous estimate). The total grain production will be 132 million metric tons (135 previously), with exports estimated at at 57 million  tons (down from 59.5). Today, there are new data from farmers in Russia. Plantings in the eastern parts of the Rostov region have partially frozen in the same areas. A rough estimate indicates losses of at least 35%, affecting almost the southernmost regions of the country.

- From May 1 to May 20, Russia exported 3.394 million tons of grain (down 18% compared to the previous year), including 2.7 million tons of wheat (down 20%), 286,000 tons of corn (down 22.5%), and 408,000 tons of barley, unchanged. The largest buyers of wheat were Egypt with 457,000 tons (590,000 previously), Turkey with 127,400 tons (741,000 previously), and Bangladesh with 197,000 tons (135,000 previously).

- At the end of April, oilseed reserves in Russia were 2.4 million tons (down 29.9% from April 2023). Sunseed reserves were 1.1 million tons (down 30.8%). Grain reserves were 18.4 million tons (down 9.6%), including 11.3 million tons of wheat (down 5.8%) and 1.9 million tons of corn (down 10.3%).

- In 2024, rapeseed production in Ukraine will reach 4.1 million metric tons (compared to 4.7 million in 2023). Prices for the crop will increase due to strong demand.

- According to NASS data as of May 19, 2024, in the United States, 79% of planned areas for spring wheat have been planted (compared to 57% the previous year and 65% on average for the last five years). Corn planting covers 70% of the areas (compared to 76% and 71%), while soybeans cover 52% (compared to 61% and 49%). Regarding winter wheat, 49% of the crops are in good or excellent condition (compared to 50% a week earlier and 31% the previous year).

- Farmers in Argentina have sold only 31% of the expected new soybean production – 49.7 million tons, the lowest percentage since 2014/15. By May 15, 2024, soybeans have been harvested from 61% of the planted areas.

- Drought in Australia may reduce the canola production in the country according to StoneX's forecast. In Western Australia, the canola production is projected at 4.5 million tons, and in South Australia, 4 million tons. The wheat production will increase by 11% to 29.3 million tons, and barley production is expected to increased by +7% to 11.2 million tons.

- According to market operators, Jordan has received offers from 8 traders for the sale of 120,000 tons of wheat.