Grain Highlights 11.06.2024

Coceral forecasts that Bulgaria's grain production in 2024/25 will be 10.26 million tons.

- Between June 1 and 10, Russia exported 1.575 million tons of grain (1.72 million tons in the previous year), including 1.42 million tons of wheat (1.401 million), 86,000 tons of barley (-15%), and 69,600 tons of corn (217,000 tons).

- In May 2024, Ukraine exported 714,000 tons of sunseed oil, marking the highest monthly result since January 2021. From September to May, the export totalled 5.14 million tons.

- From the beginning of the season until June 4, 2024, the EU imported 17.98 million tons of oilseed meals, which is 1% less than the previous year. Soymeal imports were 14.23 million tons (-4%), sunseed meal imports were 2.988 million tons (+16%), and rapeseed meal imports reached 0.76 million tons (+1%).

- Coceral forecasts that Bulgaria's grain production in 2024/25 will be 10.26 million tons, with 2.4 million tons coming from oilseed production. The wheat production is expected to reach 6.1 million tons (6.4 million in 2023/24), barley production is estimated at 0.77 million tons (0.65 million), corn production is projected at 3.25 million tons (2.3 million), rapeseed production is forecasted at 0.31 million tons (0.31 million), and sunseed production will reach 2 million tons (1.7 million).

- According to USDA data as of June 9, 2024, 47% of winter wheat crops in the United States are in good or excellent condition (49% a week earlier and 38% a year earlier), as well as 72% of spring wheat crops (74% and 60%). Winter wheat has been harvested on 12% of the areas. Corn has been planted on 95% of the planned areas, and soybeans on 87%.

- In April, Australia exported 1.86 million tons of wheat (-28% compared to March). The largest customers were China, Yemen, and Indonesia.

- South Korean companies have purchased 50,000 tons of various classes of wheat from the United States at prices ranging from 240 to 280 USD/ton FOB, with delivery scheduled between August 16 and September 15, 2024.