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The corn season 2024/25 has started in Ukraine. The country is waiting for Chinese demand, but there are no signs of revival. In the 2023/24 MY (October-September), China already reduced its imports of Ukrainian corn to 4.6 MMT vs 5.5 MMT in the previous season.

Implementation of Turkish wheat import ban on 21 June 2024 was a heavy bearish factor for Black Sea wheat and freight market.

Ukraine has faced significant challenges in maintaining its traditional markets in North Africa, the Middle East, and Southeast Asia – particularly in Egypt, Turkey, and Indonesia – since the onset of the war.

The prospects of Ukrainian barley export in 2024/25 MY may seem quite gloomy from the point of view of potential buyers’ demand, as such key destinations like Spain and China may reduce purchases.

On 06 June 2024, the government of Turkey introduced a ban on wheat import for the period from 21 June 2024 to 15 October 2024. The measure is taken to protect local farmers during the harvesting period.

According to the USDA’s May ‘Grain: World Markets and Trade’ report, the global wheat outlook for 2024/25 forecasts record production and consumption but lower trade and contracting ending stocks.

In the 2023/24 marketing year (MY), Russia has been an aggressive exporter of wheat to the world market.

Marking its 20th anniversary, the Turkish Flour Industrialists’ Federation (TFIF) orchestrated a momentous gathering, assembling over 1300 delegates at its 18th International Congress and Exhibition in Antalya.

The current season in Ukraine is marked by an increased share of feed-quality wheat compared to the previous year, influenced by pre-harvest rainy weather.

Ukraine’s grain exports face significant challenges, with decreased volumes attributed to blocked Black Sea ports and Russian attacks on Danube River ports.