Grain Highlights 13.11.2024

The Ukrainian Agribusiness Club forecasts a 2024 sunseed production of up to 10.8 million tons in Ukraine (compared to 15 million tons in 2023).

- In 2024, winter wheat areas in Russia are expected to reach 15.4 million hectares, the lowest level since 2018/19, according to data from Rusagrotrans. In the current season, the area was 16.3 million hectares.

- Analysts estimate that from February 15 to June 30, 2025, Russia’s grain export quota may range from 5 to 17 million tons, with 11 to 12 million tons being the most likely figure. The export quota for 2024 was 28 million tons, for 2023 was 25.5 million tons, and for 2022 was 11 million tons, including 8 million tons of wheat.

- According to ProZerno's forecast, Russia’s sunseed production in 2024 will reach 15.8–15.9 million tons (compared to 17.3 million tons in 2023). The soybean production will be 7–7.1 million tons (up from 6.8), and rapeseed production will be 4.7–4.8 million tons (up from 4.2).

- The Ukrainian Agribusiness Club forecasts a 2024 sunseed production of up to 10.8 million tons in Ukraine (compared to 15 million tons in 2023). As of November 8, 2024, 95.2% of the sunseed fields in Ukraine had been harvested, yielding 9.7 million tons. A quick calculation points to a final production of about 10.2 million tons. It is noted that approximately 1.5 million tons of sunflower seeds will remain outside official records, as happens annually.

- Between July 1 and November 10, 2024, the EU imported 11.39 million tons of grain (-8% compared to the previous year), including 3.24 million tons of soft wheat (-3%), 0.38 million tons of durum wheat (-71%), 0.54 million tons of barley (-40%), and 7.1 million tons of corn (+8%).

- Between November 1 and 10, 419–429 thousand tons of palm oil were exported from Malaysia (490,500 tons during the same period in October).

- CIMB Research projects the price of crude palm oil to average 4,150 ringgit/ton for 2024 and 4,200 ringgit/ton for 2025 (up from 3,900 in the previous forecast). As of November 8, 2024, the price of CPO was 5,060.50 ringgit/ton.

- Algeria has purchased 240,000 tons of feed corn from Brazil or Argentina with delivery in November. Following this purchase, a new tender was announced for an additional 240,000 tons of feed corn from the same suppliers for delivery in December.

- Jordan has purchased 120,000 tons of milling wheat of unspecified origin at 269 USD/ton C&F with delivery from February 1 to 15.