According to SovEcon's forecast , the wheat production in Russia is expected to reach 92.2 million tons in 2024, which is 0.9 million tons more than the previous estimate.
During the period from January 1 to January 21, grain exports from Russia reached 2.6 million tons, representing a decrease of 24.5% compared to the previous year.
The European Commission has allowed Poland, Hungary, Bulgaria, Romania, and Slovakia to limit the import of agricultural products from Ukraine to stabilize their domestic markets.
According to Strategie Grains' forecast, the soft wheat production in the EU for the 2024/25 season is expected to reach 124.8 million tons. This is 2.1 million tons less than the December estimate but 1.1 million tons more than the production in 2022/23.
During the period of January 1-15, Russia exported 1.7 million tons of grain, including 1.433 million tons of wheat, 171,300 tons of corn, and 95,000 tons of barley.
According to the forecast of the Association of Soybean and Corn Producers in the Brazilian state of Mato Grosso, the soybean production in the 2023/24 season is expected to reach 35.8 million tons (compared to 45.6 million tons in 2022/23).
Patria Agronegocios is reducing its forecast for the soybean production in Brazil for 2023/24 by 7.5 million tons to 143.2 million tons (down by 11.4% compared to 2022/23).
