Steel scrap market // Week 40
Most Turkish steel mills are slow to purchase imported steel scrap given extremely dull sales of finished steel products. So, new deals are signed in case of providing significant discounts only.
Commodity markets
Soybean market // Week 40
Export quotes for U.S. soybeans have dropped amid lively world trade and ongoing harvesting. Private exporters have sold 397,000 t of soybeans to China for shipments during MY 2023-24. Soybean harvesting is 23% complete against 20% in 2022 and a five-year average of 22%.
Grain market. Australia // Week 40
Harvesting is underway in Australia, which is putting pressure on quotes. At the same time, uncertainty about the volume and quality of the new crop is holding back producers’ sales. Trade remains steadily dull.
Grain market. South America // Week 40
Quotes for Brazilian corn are falling amid abundant supplies. Anec estimates Brazil’s corn exports in September at 9.3 million t vs. 6.4 million t last year. Anec experts forecast October corn shipments at 8.9 million t (6.8 million t in October 2022).
Grain market. EU countries // Week 40
Quotes of EU grains have decreased following the futures prices amid the info about vessel calls in Ukraine’s Black Sea ports. Continuing competition with Russian grain traders (who keep reducing their offers) also put pressure on prices.
Sunflower oil market. Ukraine // Week 40
The offer of Ukrainian sunflower oil for October-November shipments remains limited. Some companies are focused on fulfillment of previously concluded agreements, while others do not hurry to sell amid unstable transportation to ports.
Grain market. Ukraine // Week 40
Export prices for Ukrainian grain continue to decline. Ongoing problems with grain shipments are putting pressure on quotes. During the week, Russian troops have launched another drone strike on the port infrastructure in the Izmail district.
Nitrogen fertilizer market // Week 40
In Ukraine, Cherkasy-based Azot continues to operate two urea production units. One of the units supplies raw materials for UAN production, while the other produces a commercial product. As a reminder, the operation of plant’s urea shops may be unstable in October.
Market of complex and potash fertilizers // Week 40
In Ukraine, phosphate fertilizers are being purchased mainly in small lots. Demand for NPK fertilizers remains low. Some farmers are buying small and medium-sized batches of the product. Note that supplies of imported NPK have started to decline seasonally.
Grain market. Ukraine // Week 39
A mixed price trend has been reported on the Ukrainian grain export market this week. Meanwhile, quotes have been going down in most cases. Ukrainian wheat is actually offered for shipments from the Black Sea ports, but traders say it is quite difficult to compete with grain of other origins now.