Grain Highlights 09.07.2024

09 Jul, 2024
Grain Highlights 09.07.2024
ProZerno estimates the new grain production in Russia at 128.2 million tons (127 million in the previous estimate), including wheat production of 82 million tons (81 million).

- In 2023/24, Russia's grain exports totaled 89.3 million tons, which is 21% more than in 2022/23, which was 73.9 million tons. Barley exports amounted to 9.46 million tons, and corn exports to 7.7 million tons. These figures are from Rosselkhoznadzor. For 2024/25, the grain production is expected to be 132 million tons, including 85 million tons of wheat. The total grain export will be 60 million tons.

- According to a forecast by the Ministry of Agriculture of Kazakhstan, the wheat production in 2024 will reach 16.9 million tons, which is 40% more than in 2023 and 31% above the average level for the past five years. The barley production is projected to reach 3.5 million tons, a 33% increase, and corn production is expected at 1 million tons. The growth in productions is mainly due to high yields.

- According to a forecast by the Ministry of Agriculture of France, the wheat production in 2024 will reach 29.7 million tons, which is a 15.4% decrease compared to 2023, and the lowest level since 2020. The average yield will be 6.99 tons/hectare, down from 7.38. Barley production will be 11.29 million tons, a decrease of 8%, and rapeseed production is estimated at 3.94 million tons, down 7.7%. Corn acreage is increasing to 1.6 million hectares, up from 1.44 in the previous estimate, which is 22% more than in 2023 and 6% more than the average level over the past five years.

- According to USDA data as of July 7, 2024, 68% of corn crops in the United States are in good to excellent condition, compared to 67% a week earlier and 55% a year earlier. 68% of the soybean crops are also in good to excellent condition, up from 67% and 51%. 75% of spring wheat crops are in good to excellent condition, up from 72% and 47%. The winter wheat harvesting campaign has been completed on 63% of the acreage, compared to 43% in 2023.

- According to AgRural data as of July 4, 2024, the harvesting campaign of the second corn crop in Brazil has been completed on 63% of the areas, compared to 26% a year earlier. This production typically accounts for 75% of Brazil's total corn production.

- In 2024, Thailand will export 800,000 tons of unrefined palm oil to stabilize domestic prices at higher levels.

- Algeria has announced a tender to purchase 50,000 tons of soft milling wheat of any origin, with delivery from August to October.