- IKAR lowers its forecast for the 2024/25 oilseed production in Russia to 28.5 million tons. The sunseed areas were 9.8 million hectares, soybean areas were 4.3 million hectares (3.6 in 2023) – a record level, rapeseed areas reached 2.7 million hectares (2.1) – also a record level. The decrease in the production is due to poor yields.

- SovEcon releases its first forecast for Russia's 2025 wheat production at 80.1 million tons (81.5 expected for 2024). The wheat areas will decrease to 28.4 million hectares (28.5 in 2024), with an average yield expected at 2.82 tons/hectare (2.86).

- SovEcon forecasts wheat exports from Russia in October at 4.8 million tons (5.1 in September), barley exports at 0.2 million tons (0.4), and corn exports at 0.2 million tons (0.3).

- Between October 1 – 20, 3.93 million tons of grain were exported from Russia (-10% compared to 2023), including 3.512 million tons of wheat (-5%), 312,000 tons of barley (-16%), and 102,000 tons of corn (-14%). In September, wheat exports were 5.3 million tons, and in August, 6 million tons.

- As of October 21, 2024, 4.329 million hectares of grain had been sown in Ukraine (5.18 forecast for the season), including 3.845 million hectares of winter wheat (86%) and 421,300 hectares of winter barley (66%). Winter rapeseed was sown on 1.048 million hectares (93%).

- In the past week, US soybean export inspections reached about 2.5 million tons, including 1.7 million tons to China, the highest level in the last 14 months. This increase is due to Chinese importers rushing to acquire soybeans before the U.S. presidential elections. Other traders buying for January deliveries are sourcing soybeans from Brazil despite the higher price compared to U.S. beans.

- In Brazil, 18% of the planned soybean areas have been sown (30% a year earlier). Ten days remain until the optimal planting period ends. Rainfall has started, allowing farmers to speed up the campaign. For 2024/25, soybean areas will increase by 7.2% to 17.8 million hectares. As of October 20, 2024, 81% of U.S. soybean acreage had been harvested (67% average over the last five years). These factors together are putting strong pressure on soybean prices globally.

- According to Safras&Mercado’s forecast, Brazil's soybean exports will reach 107 million tons in 2025 (97 in 2024). The production will reach a record 172 million tons. Total soybean supply in the country for the season will reach 175.22 million tons (+11% compared to 2023/24), while demand will be 166 million tons (+7%). Soybean processing will be 55.2 million tons (54.6). Soymeal production will be 42.7 million tons (+2%), exports are expected at 22 million tons (-2%), and domestic consumption at 20.3 million tons (+8%). Ending stocks will reach 2.65 million tons (+18%). Soyoil production will be 11.13 million tons (+1%), domestic consumption is projected at 10.3 million tons (+5%), including 6 million tons for biodiesel (+13%), and ending stocks will be 275,000 tons (-35%). Thus, Brazil's ending soybean stocks for 2025 will rise to a massive 9.22 million tons (3.29).

- According to the Buenos Aires Grain Exchange, as of October 16, 2024, 24% of Argentina's planned 6.3 million hectares of corn had been sown (20% a year earlier).

- According to China's customs data, in September, the country imported 310,000 tons of corn (-81% compared to September 2023), 250,000 tons of wheat (-60%), 940,000 tons of barley (-9%), and 970,000 tons of sorghum (+108%).

- Between October 1 – 20, 1.036 million tons of palm oil were exported from Malaysia (953,000 tons the previous month).