Grain Highlights 12.11.2024

12 Nov, 2024
Grain Highlights 12.11.2024
SovEcon forecasts Russia's wheat exports in November at 3.9 million tons (compared to 5.6 million in October and 5.1 million in September).

- According to SovEcon, Russia's barley exports in November will reach 0.1 million tons (compared to 0.2 and 0.25 in previous estimates). Total wheat exports from the country for the 2024/25 season are projected to reach 45.9 million tons (previously 47.6).

- Winter crop planting in Russia has been carried out on 17.02 million hectares, which is 1.2 million hectares less than the previous year, according to ProZerno data.

- In Belarus, 10.3 million tons of grain crops and rapeseed have been harvested.

- The French Ministry of Agriculture has raised its forecast for the country's 2024/25 soft wheat production to 25.56 million tons, up from the previous estimate of 25.43 million tons. The corn production is expected to reach 14.62 million tons (compared to the previous estimate of 14.47 million tons).

- According to an FAS USDA forecast, Canada's wheat production for 2024/25 will be 34.3 million tons (up from 32.9 million tons in 2023/24). Wheat ending stocks in Canada are projected to reach 4.6 million tons, a decrease of 18.5%, with exports expected at 25.5 million tons (compared to 25.37 million tons).

- Anec forecasts that Brazil exported 5.66 million tons of corn in October (down from 6.44 million tons in September and 8.02 million tons in October 2023). November exports are projected at 4.24 million tons, with a maximum potential of 5.3 million tons under certain conditions. During the period of November 3-9, exports totaled 1.8 million tons (up from 0.915 million tons the previous week).

- At the end of October, Malaysia's palm oil stocks reached 1.88 million tons (down 6.32% from September), production was at 1.8 million tons (down 1.35%), and exports at 1.73 million tons (up 11.07%), according to MPOB data.

- During the period from July 1 to October 31, 2024, Morocco's grain imports totaled 4.11 million tons (up 16% compared to 2023/24). Imports of durum wheat reached 363,300 tons (up 69%), and imports of soft milling wheat were 1.95 million tons (up 15%). Imports of feed crops increased by 18% to 1.04 million tons. Currently, Morocco's soft wheat reserves stand at 1.575 million tons, covering domestic consumption for 3.5 months.