Nitrogen fertilizer market // Week 29
In Egypt, urea prices have continued to rise this week, but holidays have started in the country that will last until Monday.
Commodity markets
Sunflower oil market. Ukraine // Week 29
The Ukrainian sunflower oil market is inactive. Offers are virtually absent as there is no possibility to ship via the grain corridor.
Iron ore market // Week 29
Iron ore prices have sagged in China amid sluggish trade, tightened production curbs in Tanshan as well as due to expected increase in the domestic iron ore production in the second quarter of 2023.
Steel scrap market // Week 29
Negotiations for the procurement of imported steel scrap have picked up somewhat in Turkey closer to weekends after exporters increasingly started providing discounts.
Coal market // Week 29
Despite some trade recovery on the West European market for imported thermal coal, spot quotes have inched down in ARA ports.
Soybean market // Week 28
USDA experts have noticeably reduced the forecast of soybean production in the USA (-5.7 millionb tons to 117.03 million tons) due to smaller planting areas.
Grain market. Australia // Week 28
In Australia, barley prices have increased amid the ongoing tariff dispute with China.
Grain market. South America // Week 28
The Brazilian corn market remains stable. Producers are focusing on soybean sales and refrain from selling corn.
Grain market. USA // Week 28
Prices for U.S. wheat have decreased following higher production estimates in the country (+2 million tons to 47.3 million tons) and the ongoing harvesting campaign (winter wheat harvesting was 46% complete by July 9), which lags behind last year and a five-year average pace (62% and 59%, respectively).
Grain market. Kazakhstan // Week 28
Prices for Kazakh wheat are stable, trade is inactive. According to some exporters’ estimates, wheat and flour exports from Kazakhstan in the current season may reach 8.8-9 million t.