The IGC has raised its forecast for Russian wheat exports in 2024/25 to 44.2 million tons (up from 43.7 million in the previous estimate). The harvest remains unchanged at 81.8 million tons. The total grain production will amount to 117.1 million tons (118.2 previously), and exports will reach 52.3 million tons (51.8). The global wheat production for 2024/25 is projected to reach 796 million tons (-2), mainly due to reductions in the EU. The EU wheat production will be 120.3 million tons (121.8 and 133.1 in 2023/24). The global corn production will be 1.225 billion tons (+1), and global soybean production is expected at 419 million tons (-2).

For the week starting November 27, 2024, Russia's export taxes will be set at 3,020.3 rubles/ton for wheat (2,689.7 the week before), 1,166 rubles/ton for barley (1,233.2), and 3,584.1 rubles/ton for corn (3,065.5).

As of November 21, 2024, 97% of Ukraine's grain crops have been harvested, yielding 53.373 million tons of grain with an average yield of 4.95 tons/hectare. Corn production has reached 23.623 million tons (94% of the area), with a yield of 6.4 tons/hectare. Sunseed harvesting is 97% complete, producing 10.075 million tons with a yield of 2.08 tons/hectare. Soybeans have been harvested on 99% of the areas, yielding 6.005 million tons with a yield of 2.3 tons/hectare. The sunseed production potential is estimated at 10.4 million tons.

According to Ukraine's Ministry of Agriculture, as of November 18, 2024, 98% of the planned winter grain sowing has been completed, covering 5.06 million hectares of the 5.188 million planned. A year earlier, 4.605 million hectares were sown (89.8%). Wheat sowing is at 4.381 million hectares (98%), and barley sowing at 610,500 hectares (96%).

Between July 1 and November 22, 2024, Ukraine exported 17.203 million tons of grain (compared to 12.033 million a year earlier), including 2.804 million tons in November (2.793). November exports are on par with last year, but a noticeable decline is expected in December and the coming months. Exported volumes include 8.619 million tons of wheat (0.878), 1.809 million tons of barley (0.11), and 6.47 million tons of corn (1.789).

According to FranceAgriMer data as of October 18, 2024, 90% of the planned winter soft wheat areas in France have been sown (73% a year earlier and 87% on average over the past five years). Winter durum wheat has been sown on 52% of the areas (19% and 42%), and winter barley has been sown on 96% of the areas (85% and 93%). In good or excellent condition are 88% of soft wheat crops and 84% of barley crops.

In Western Australia, preparations are underway for an unexpectedly high wheat production despite a lack of rainfall. The state, Australia's leading producer, is expected to harvest 10.33 million tons this year (+1 compared to September's forecast). This unexpected increase will ease market tensions caused by anticipated declines in Black Sea region exports due to weak productions and the ongoing conflict. According to the Australian Bureau of Agricultural and Resource Economics, Australia's wheat production for 2024/25 is forecasted to reach 31.8 million tons (+23% compared to 2022/23).

According to IGC projections, India's corn production in 2024/25 will reach a record level, driven by record domestic prices and favorable weather conditions.

Iran has purchased 120,000 tons of barley, including 60,000 tons from Russia and 60,000 tons from Kazakhstan.