Grain Highlights 28.11.2024

According to a forecast by SagyP, soybean acreage for the 2024/25 season in Argentina will reach 17.8 million hectares (compared to 16.6 million hectares in 2023/24). Currently, 36% of the planned areas have been sown.

On November 28, 2024, Turkey held a tender for the sale of 150,000 tons of feed barley. The highest price offered by buyers was 225.50 USD/ton FOB. Delivery will take place between December 18, 2024, and January 13, 2025.

In November, Kazakhstan will export nearly 1 million tons of grain.

According to a forecast by SagyP, soybean acreage for the 2024/25 season in Argentina will reach 17.8 million hectares (compared to 16.6 million hectares in 2023/24). Currently, 36% of the planned areas have been sown. Wheat production in Argentina is expected to reach 15.9 million tons (-10.7% compared to 2023/24). The new production will be the fourth largest in the past 15 years. Wheat acreage will be 6.3 million hectares (compared to 5.9 million hectares). Corn acreage will be 9.4 million hectares (down from 11.1 million hectares), with 45% already sown.

On November 26, 2024, Algeria purchased 140,000–150,000 tons of wheat at 267 USD/ton, with delivery scheduled between January 1 and March 31, 2025.

Tunisia purchased 100,000 tons of soft wheat at prices ranging from 257.68 to 259.37 USD/ton C&F and 100,000 tons of durum wheat at prices between 346.71 and 348.88 USD/ton C&F. Deliveries will take place between December 15, 2024, and January 25, 2025.

According to Mostakbal Misr, Egypt plans to purchase wheat and vegetable oils through direct negotiations with sellers instead of international tenders.