Grain Highlights 09.06.2024

The government of Turkey is banning wheat imports into the country from June 21 to October 15, 2024. This measure is due to the significant domestic reserves, which have reached 9 million tons.

- During the week starting on June 12, 2024, the export tax on Russian wheat will be 2,845.3 rubles/ton (2,778.1 rubles a week earlier), while barley and corn remain duty-free for another week.

- The Russian government has declared a state of emergency in 9 regions after frost damage in May. These regions are Belgorod, Voronezh, Volgograd, Kursk, Lipetsk, Penza, Rostov, Saratov, and Tambov.

- From January to April 2024, Russian wheat exports to Egypt reached 3.5 million tons, a 20% increase from the previous year. Oil exports amounted to 177,000 tons.

- From July 1, 2023, to June 7, 2024, Ukraine exported 47.734 million tons of grain (45.994 million tons the previous year), including 805,000 tons in June (657,000 tons). Wheat exports totaled 17.654 million tons (15.704 million tons), barley exports reached 2.428 million tons (2.655 million tons), and corn exports were 27.12 million tons (27.313 million tons).

- During the spring campaign in Ukraine, 7.2 million hectares were planted with oilseeds, and 5.6 million hectares with grains, which is 99% of the planned area. Corn was planted on 9.328 million hectares, barley on 783,000 hectares, and wheat on 252,700 hectares. Sunseed was planted on 5.19 million hectares, and soybeans on 2.032 million hectares.

- The Turkish government has banned wheat imports into the country from June 21 to October 15, 2024. This measure is due to significant domestic reserves, which have reached 9 million tons. The goal is to utilize these reserves.

- According to FranceAgriMer data as of June 3, 2024, 62% of soft wheat crops in France were in good and excellent condition (61% a week earlier and 88% a year earlier). However, prolonged heavy rains could destroy 12-20% of the wheat crops in the country. Spring rainfall was 45% above the average level of the last 10 years, while sunshine was 20% below average.

- Tunisia is looking to purchase 50,000 tons of soft wheat and 75,000 tons of feed barley with delivery in July.

- South Korea's Feed Buyers' Group has purchased 65,000 tons of feed corn from South America at a price of 242.99 USD/ton C&F with delivery by October 10, 2024.