As of 01.10.2024, 50.5% of Russia's sunseed areas have been harvested, yielding 8.8 million tons. The forecast for the total production is 17.1 million tons.
The Russian Grain Exporters Union has started publishing consensus indicative prices for the export of Russian wheat for October, November, and December.
On the market in Kazakhstan, there is a shortage of third-grade wheat, which is used by millers. A price decline is being observed for fourth- and fifth-grade wheat due to its large supply.
In their October report, USDA analysts raised their forecast for the global sunseed production to 50.7 million tons (+0.15 million tons compared to September and -5.4 million tons compared to 2023/24).
Starting from 16.10.2024, the export tax on Russian wheat will be 1,872 rubles/ton (up from 1,328.3 a week earlier). The export tax on barley will be 392.8 rubles/ton (up from 229.5), and the export tax on corn will be 2,827.2 rubles/ton (up from 2,696.7).
Political tensions between Algeria and France are affecting their trade relations. In a recent wheat purchase tender, Algeria requested that no contracts be signed for wheat deliveries from France.
