SovEcon estimates Russia's wheat exports in June at 3.5-4 million tons (3.6 million tons in June 2023 and only 1.6 million tons on average for this month in previous years).
In 2024, Russia's sunseed production is projected to reach 15.8 million tons (compared to 17.25 million in 2023). Soybean production will reach 7.2 million tons (6.824 million), and rapeseed production is forecasted at 4.3 million tons (4.203 million).
The government of Turkey is banning wheat imports into the country from June 21 to October 15, 2024. This measure is due to the significant domestic reserves, which have reached 9 million tons.
StoneX has lowered its forecast for the 2023/24 corn production in Brazil to 121.75 million tons (from 125.6 in the previous estimate), with the reduction attributed to the second corn production.
According to Abares, the wheat production in Australia will reach 29.1 million tons in 2024/25 (+12% compared to 2023/24), barley production is expected at 11.5 million tons (+7%), and canola production is estimated at 5.4 million tons (-5%).
The Russian Grain Union has lowered its forecast for the 2024/25 grain production in Russia to 130.9 million tons (down from 134.2 million tons in the previous estimate).
