Grain Highlights 24.07.2024

24 Jul, 2024
Grain Highlights 24.07.2024
During the period from July 1 to 20, Russia exported 2.825 million tons of grain, a decrease of 31.4% compared to 4.115 million tons in 2023/24. This included 2.228 million tons of wheat (-23.8%), 404,000 tons of barley (-48%), and 192,000 tons of corn.

- During the period from July 1 to 20, the largest buyers of wheat from Russia were Egypt with 244,000 tons (compared to 453,000 tons previously), Morocco with 146,000 tons, Saudi Arabia with 132,000 tons (compared to 500,000 tons previously), Bangladesh with 105,000 tons (compared to 198,000 tons previously), and Nigeria with 103,000 tons. The largest buyers of barley were Saudi Arabia with 163,000 tons, Jordan with 88,000 tons, and Egypt with 24,000 tons. Buyers of corn included Iran with 80,000 tons, Turkey with 75,000 tons, and Israel with 27,000 tons.

- SovEcon has raised its forecast for Russia's grain production in 2024/25 by 3.1 million tons to 130.5 million tons, including 84.2 million tons of wheat (+0.1), 19.3 million tons of barley (+0.7), and 13.4 million tons of corn (-1.2).

- During the period from July 1 to 24, Ukraine exported 2.779 million tons of grain, including 994,000 tons of wheat (compared to 563,000 tons a year earlier), 380,000 tons of barley (compared to 184,000 tons previously), and 1.393 million tons of corn (compared to 915,000 tons previously).

- MARS forecasts an average yield of soft wheat in the EU in 2024/25 of 5.87 tons/hectare (compared to 5.59 tons/hectare in the June estimate and 5.86 tons/hectare in 2023/24), durum wheat yield at 3.35 tons/hectare (compared to 3.3 and 3.45 tons/hectare), spring barley yield at 4.44 tons/hectare (compared to 4.39 and 4.08 tons/hectare), winter barley yield at 5.76 tons/hectare (compared to 5.96 and 5.91 tons/hectare), corn yield at 7.24 tons/hectare (compared to 7.55 and 7.35 tons/hectare), rapeseed yield at 3.1 tons/hectare (compared to 3.16 and 3.17 tons/hectare), sunseed yield at 2.09 tons/hectare (compared to 2.2 and 2.15 tons/hectare), and soybean yield at 2.86 tons/hectare (compared to 2.91 and 2.73 tons/hectare).

- In July, India imported a record 1.92 million tons of vegetable oils (+26% compared to June), including 1.14 million tons of palm oil (+45% and the highest level in the last 20 months), 380,000 tons of sunseed oil (-18%), and 400,000 tons of soyoil (+45%). Since the beginning of the year, the country has imported 4.92 million tons of palm oil.