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.
Commodity markets
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.
Grain market. Russia // Week 28
Players note that the retreat of leading foreign grain traders from Russia (since July 1) has not yet affected the pace of sales and exports.
Grain market. EU countries // Week 28
Prices for EU grains have been showing mixed dynamics. In its July forecast, Strategie Grains’ lowered the estimate of the EU 2023-24 wheat crop by 2.5 million t to 126.2 million t.
Sunflower oil market. Ukraine // Week 28
Despite moderate trade on the Ukrainian sunflower oil market, suppliers raised their offer prices to $910-930/t CIF Mersin.
Grain market. Ukraine // Week 28
April (note that 178 and 180 vessels used the corridor in September and October 2022, respectively).
Market of complex and potash fertilizers // Week 28
Demand for imported phosphate fertilizers has increased in Brazil, but most global suppliers have already sold out stems to be produced in July and August.