W23: Oats Update

In W23 in the oats landscape, in Iowa in the US, farmers finished planting oats before the end of May 2023, far in advance of the usual planting pace. For the week ending June 4, emergence was pegged at 99%, slightly ahead of the five-year average of 97%. According to the USDA, oat conditions declined to 1% extremely poor, 2% poor, 27% fair, 61% good, and 9% excellent. In Spain, due to the drought estimated to be the worst in the last three decades, a 45.2% YoY decline in the harvest of winter cereals in 2023, including wheat, barley, oats, and rye, is expected. The oat harvest is anticipated to drop by 65.85% YoY to 307,818 mt. In Ukraine, the destruction of the Kakhovka dam that led to flooding caused oat prices to surge by 13%. Furthermore, 50 thousand hectares (or more) of cultivable land are at risk. The spring agricultural planting is drawing to a close. As of W23, 5 million 472 thousand hectares of grain and leguminous crops, including 145.6 thousand ha of oats, had already been sown by Ukrainian farmers. Meanwhile, in Primorsky Krai, Russia, the sowing of early grain crops in the region have been completed on 96.3% of the planned area, including oats sown on 17.53 thousand ha. Since the beginning of 2023, the Krasnoyarsk Territory has exported 172 thousand mt of grain, including 7.9 thousand mt of oats. Exports to Belarus, China, Kazakhstan, Kyrgyzstan, Mongolia, and Lithuania accounted for the majority of total exports.