International trade - Incubator

Cleaning of the soybean fields in Brazil as of February 23 has reached 36.4% of the plan. Abundant rainfall has aided the process, but the southern part of the country is suffering from drought.

In the state of Rio Grande do Sul, a decrease in the productivity of oilseed soybeans by up to 40% is expected.

At the meeting in the Rostov region, plans were discussed to increase the use of domestic corn and sunflower seeds in 2025. The goal is to achieve a share of 68% and 57% respectively. It is also planned to increase the area of seed crops. In 2024, the share of domestic seeds was 62% and 43% respectively.

In Argentina, significant rainfall in recent days will help develop soybean and corn crops after a period of drought, pleasing farmers. It is expected that soybean harvest will reach 47.5 million tons, and corn harvest - 46 million tons in the current season.

"SovEcon" has lowered the forecast for wheat exports from Russia for the 2024/25 season to 42.2 million tonnes. The forecast for grain exports for the next season has been increased to 38.9 million tonnes. Experts attribute the revision to low shipments and traders' lack of urgency in the quota conditions.

Wheat prices are rising due to low exports, reaching $248 per tonne.

The increased interest of China, Iran, and Central Asian countries has boosted demand for barley, which has become more expensive compared to wheat. In Kazakhstan, the price of barley reached 77-80 thousand tenge, with exports ranging from $180 to $215 per ton. Wheat was priced at 73-76 thousand tenge in the domestic market and $188-194 for exports. The rise in barley prices is impacting feed wheat. Kazakhstan has started to purchase wheat from Russia. Futures on the American exchange reached $216 per ton.

According to the Ministry of Agrarian Policy and State Customs Service of Ukraine, 28.219 million tons of grain have been exported this season.

In February, 2.528 million tons were shipped. The export of flour amounted to 46.4 tons, with 2.9 tons in February, including 42.9 tons of wheat flour.

Introduction of new higher rates in tariffs for transportation of goods through Kazakhstan in the direction of the EEU in 2025 will be effective from 07.03.2025 to 31.12.2025. The previously established higher rates will be canceled. The rate increase is necessary to ensure the railway infrastructure.

Turkey is increasing its wheat sowing areas, focusing on durum wheat crops. Wheat imports have decreased to 1% of the global volume due to reserves. Experts do not expect a sharp increase in imports due to the availability of local wheat.

The Senate of Kazakhstan has approved an agreement with Turkey on quarantine and plant protection. The document is aimed at plant safety and preventing the import of harmful organisms.

The cooperation between scientific organizations is being discussed, and requirements for the transportation of products are established.

Before the start of the sowing campaign in Russia, it is planned to support the agricultural machinery industry. Deputy Prime Minister Alexander Novak instructed to coordinate the necessary support measures taking into account the sanctions. Discussions included financial indicators, credit burden, and demand for agricultural machinery.

According to Rosstat, in 2024, the production of oil from rapeseed in Russia decreased by 16.3% compared to the previous year. Over the past 5 years, it has grown by 2.2 times, and over the past 10 years, by 3.6 times.

In December 2024, the production volume increased by 16.2%. The growth in production is associated with a record harvest of rapeseed. More information: ab-centre.ru.

In January, soybean processing in the USA reached 5.45 million tons, slightly below the previous record. Some plants slowed down due to weather conditions, while the demand for soybean oil decreased. Global soybean processing increased to 349.3 million tons, and soybean meal trading rose to 107.4 million tons.