W40: Oats Update

In W40 in the oats landscape, according to Russia’s regional Ministry of Agriculture, the Rostov region achieved a historic milestone in grain crop production. This includes winter and spring wheat, peas, rye, barley, and oats, with a total harvest exceeding 15 million metric tons (mmt), setting a new record. In the Altai Republic, oats harvesting is still underway, with 235 thousand metric tons (mt) collected as of September 29. Notably, 9% is first-class grain, 28% is class 2, 20% is class 3, 41.5% is class 4 and 1.5% is non-class grain that does not meet the governmental (GOST) standards.

Furthermore, since the beginning of 2023, the Krasnoyarsk Territory has collected over 1.5 mmt of grain, processed products, oilseeds, and peas, marking a 27% year-on-year (YoY) increase. The primary exports include rapeseed (135.6 thousand mt), wheat (72.1 thousand mt), and oats (27.3 thousand mt). These products are mainly exported to countries such as Belarus, China, Kazakhstan, Kyrgyzstan, Mongolia, and Lithuania.

Belarus has extended a six-month ban on exporting grain crops, rapeseed, and sunflowers, as the Council of Ministers announced. The ban applies to various agricultural products, including wheat, rye, barley, oats, and corn. Exporters must obtain one-time licenses from the Ministry of Antimonopoly Regulation and Trade, in coordination with regional executive committees and the Minsk City Executive Committee, to export these items. However, the ban does not affect products provided as humanitarian aid or those in transit through Belarus.

As of September 1, the United States (US) had 1.1 mmt oats in stock, a 20% increase YoY, according to the United States Department of Agriculture (USDA) estimates.

In Poland, consumer oats are purchased at USD 193.67/mt, which is 5% higher week-on-week (WoW) and month-on-month (MoM). However, the price is 30.5% cheaper than the previous year's price.

Lastly, in Spain, a shortage of vetch seeds has led to a ripple effect, impacting the cost of other cover crops that farmers plant to fulfill crop rotation and biodiversity requirements under the European Union (EU) eco-regime. This increase in prices primarily affects vetch among legumes and oats among grains.