Grain Highlights 31.07.2024

31 Jul, 2024
Grain Highlights 31.07.2024
Record high wheat yields in North Dakota in 2024 mean an increase in wheat supplies from the United States and a reduction in food inflation.

- In July, 3.44 million tons of grain were exported from Ukraine (2.16 million tons a year earlier). This includes 1.438 million tons of wheat (758,000 tons), 477,000 tons of barley (285,000 tons), and 1.511 million tons of corn (1.112 million tons).

- As of 31.07.2024, six ships are at or expected to arrive at Bulgarian ports to export 143,000 tons of wheat, and two ships are set to export 64,000 tons of barley. Between July 1 and 26, 785,000 tons of wheat and 282,000 tons of barley were exported from Bulgaria.

- In the first six months of 2024, corn exports from Moldova totaled 264,000 tons (378,000 tons a year earlier). Each month during this period saw lower exports compared to the previous year. The largest quantities were sent to Romania, accounting for 36.5% of total exports, followed by Turkey with 39,000 tons and Switzerland with 37,300 tons. The processing of corn for ethanol is increasing, with consumption taking a significant share of the country's production.

- Record high wheat yields in North Dakota in 2024 mean an increase in wheat supplies from the United States and a reduction in food inflation. According to final data, the main durum wheat variety grown will have a 15% higher yield than last year. The US wheat production is expected to reach 54.6 million tons, which is 11% more than in 2023 and the highest level since 2016/17.

- According to data from the Rosario Grain Exchange, the frosts that hit Argentina on 29.07.2024 have worsened the condition of wheat crops. The northern parts of Buenos Aires province experienced the lowest rainfall in the last 60 years in July. The combined impact of drought and frost will significantly harm the crops. No rainfall is expected in the next 15 days.

- Tunisia has purchased 125,000 tons of soft wheat at prices ranging from 243.99 to 246 USD/ton C&F and 50,000 tons of durum wheat at prices between 322.89 and 326.29 USD/ton C&F.

- On 30.07.2024, Jordan purchased 50,000 tons of milling wheat at a price of 256.25 USD/ton C&F, with delivery expected between October 1 and 15.