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The forecast for grain production in the world for 2024 has been raised to 2854 million tons due to the growth in feed grains. Consumption is also higher than last year. Grain stocks will remain high by the end of 2025. Global grain trade remains stable, with changes in the export of various types of grain.

Indonesia has increased grain imports from Russia: this year 95 thousand tons were purchased for $26.1 million, which is 11 times more than the previous year. The total volume for six months reached 782.6 thousand tons for $221.4 million, which is 80% of last year's shipments.

According to Soyuzrossahara data on November 7, 2024, in Russia, 998 thousand hectares of sugar beets have been harvested, with 37,700 thousand tons harvested at a yield of 378 c/ha.

It is forecasted that no less than 55,176 thousand tons of beets will be harvested by November 29.

Sales of flour by large and medium wholesale organizations fell by 0.72%, reaching 85.06 thousand tons by November 1, 2024. Compared to the previous year, this is a decrease from 85.67 thousand tons as of November 1, 2023.

The prices for sunflower seeds in Russia have increased to 35.6 thousand rubles, for corn – to 13.8 thousand, for soybeans – 35.4 thousand, for rapeseed – 31.9 thousand rubles.

On the global markets, grain prices have decreased. Grain has already been harvested from 46.8 million hectares.

Thanks to the governor Vladimir Vladimirov, Stavropol Krai is a leader among the regions of Russia in crop insurance of agricultural lands. 163 producers have signed 297 insurance contracts, receiving over 415 million rubles in compensation. In 2025, it is planned to allocate 776.3 million rubles to support crop production.

Corn at CBOT rose by 7.25 ¢/bsh, reaching 423.00 ¢/bsh.

Soft wheat at CBOT decreased by 5.50 ¢/bsh to 532.25 ¢/bsh.

Hard wheat at KCBT fell by 5.50 ¢/bsh, reaching 520.75 ¢/bsh.

Hard wheat at MGE increased by 8.00 ¢/bsh to 572.50 ¢/bsh.

Oats at CBOT rose by 3.25 ¢/bsh to 337.50 ¢/bsh.

Rough rice at CBOT rose by 0.05 usd/cwt, reaching 15.22 usd/cwt.

In 10 months of 2024, the Rostov region exported 3.04 million tons of wheat, which is 11% more than the previous year. The exported products went to Turkey, Egypt, Greece, and Albania.

In November, 265.1 thousand tons of grain were sent, with the main buyers being Turkey, Albania, Tunisia, Iran, and Lebanon. (Source: RBC Rostov)

Mostakbal Misr has canceled tenders for the purchase of wheat and vegetable oil, causing expectations among traders.

Direct deals by the agency could change the trading system. Traders are waiting for instructions from the agency.

In China, in the 2024/25 season, the soybean harvest will decrease by 3% to 1.12 million tons due to a decrease in sown areas, but the yield will increase by 2%. The demand for soybean seeds will fall by 5% to 580 thousand tons.

A growth in the production of rapeseed is forecasted: spring rapeseed by 10% and winter rapeseed by 9%.

The export duty rate on sunflower oil from the Russian Federation will increase to 9,195.8 rubles per ton in December, which is three times higher than in November. The duty rate on sunflower meal will also rise to 3,788.4 rubles. The decision to extend the duties until 2026 was made by the Ministry of Agriculture of the Russian Federation in August 2024.

Prices for sugar have risen: SBK24 futures closed at +0.27 (19.54; +1.40%), ICE №5 SWQ24 rose by +9.60 (568.90; +1.72%). Conab reduced the forecast for sugar production in Brazil for the 2023/24 season, but increased the forecast for ethanol production.