According to USDA data for the next 10 years, Brazil will supply 72% of the global soybeans, 46% of corn, 62% of beef, 61% of poultry, and 32% of pork.
According to Rusagrotrans data, during the period 01.07.2023 - 15.02.2024, 46.6 million tons of grain will be exported from Russia /+7.9 compared to the previous year/, including wheat exports of 35.6 million tons /+3.7/.
According to Safras&Mercado's forecast, Brazil's soybean production in 2023/24 will reach 94 million tons (95 a month earlier and 101.86 in 2022/23). Processing in the country is estimated at 54.3 million tons (53.5 in the previous estimate), imports will be 110,000 tons (181,000), total supply is estimated at 154.492 million tons (-6%), demand is expected at 151.3 million tons (-5%), and ending soybean stocks are projected at 3.192 million tons (-40%).
According to Rusagrotrans, the grain production in Russia for 2024 is forecasted to be 140 million tons (optimistic estimate: 144 million tons), including wheat production of 92 million tons (96.3 million tons).
According to the latest forecast by SovEcon, the wheat production in Russia is expected to reach 93.6 million tons in 2024/25 (compared to 92.8 million in 2023).
Exporters of sunseed oil from the Black Sea region are forced to seek other markets after India increased its purchases of the product from Argentina due to cheaper transportation.
According to data from the Grain Exchange in Rosario, considering the heat and drought over the past two weeks in Argentina, soybean crops have died on approximately 100,000 hectares.
The Russian Ministry of Agriculture has proposed to increase the export quota for Russian grain valid for the period from February 15 to June 30, 2024, by 4 million tons to a total of 28 million tons.
