World market - Fork Cast

The US Department of Agriculture has not changed the forecast for wheat harvest in Russia - 83 million tonnes. Wheat exports from Russia will remain at 48 million tonnes, while the forecast for corn production has been reduced to 13.5 million tonnes. Forecasts for Ukrainian and Kazakh wheat remain unchanged. The global wheat harvest forecast has decreased to 796.88 million tonnes.

On December 12, 2024, prices on grain exchanges changed:

• Corn (CBOT) -6.25 ¢/bsh
• Wheat (CBOT) -4.75 ¢/bsh
• Wheat (KCBT) -4.50 ¢/bsh
• Wheat (MGE) unchanged
• Oats (CBOT) +4.50 ¢/bsh
• Rough rice (CBOT) -0.03 usd/cwt

The US Department of Agriculture has forecasted wheat exports from Russia at 48 million tons. The forecast for wheat exports from the European Union has been reduced to 34.5 million tons. Wheat harvest in Russia is projected at 83 million tons. Forecasts for corn exports have also decreased. Global grain yields are estimated to be higher.

The time for late autumn sowings of crops, including sorrel, is coming to an end. This plant is rich in vitamins and minerals that help maintain health. Growing sorrel does not require much effort, and its stratification allows you to get fresh greens earlier than other plants in the season.

At the conference, the importance of developing biopesticides and biofertilizers in agriculture was discussed. Putin is launching the National Project "Bioeconomy" to achieve technological leadership and enter world markets.

Russia is preparing to increase the production of biofertilizers and biopesticides to enhance competitiveness and food security.

The forecast for global grain production in 2023/2024 has increased to 2.31 billion tonnes. In Russia, a harvest of 134.4 million tonnes is expected, with grain and wheat exports reaching 61 and 50.4 million tonnes respectively.

In the European Union, the crop is estimated at 269.3 million tonnes with grain and wheat exports at 48.2 and 34.3 million tonnes.

In Kazakhstan, the grain harvest forecast is 16 million tonnes, while in Ukraine it is 66.4 million tonnes with exports of 37 million tonnes.