Grain export quotes have been mainly declining in Russian ports. At the same time, one of the main buyers of Russian wheat, the Turkish TMO, has bought about 535,000 t of wheat (out of the planned 695,000 t) within the international tender.
The US soybean market is supported by the upturn in the soybean oil segment. Players expect a large planting area under soybeans in the US this year and, consequently, a record crop.
Trade remains dull on the Ukrainian sunflower oil market, still putting pressure on prices. Buyers expect this trend to continue and do not hurry to sign deals.
Export quotes for Ukrainian grains have been actively decreasing in late March. Prices suffer pressure from large number of domestic offers (amid the start of planting), as well as from moderate importers’ demand.
Azot (Cherkasy) and Rivne Azot have increased the load of their production facilities to 70% and 50%, respectively. Azot (Cherkasy) is currently producing ammonia, ammonium nitrate and urea, while Rivne Azot has launched an ammonia shop, an ammonium nitrate shop and a CAN shop.
The fact that VLSFO and MGO prices have stopped growing this week has been the only positive news for small-tonnage owners.
Dynamics of average mazut prices, $/tonne
No fresh deals have been reported on the global DAP market. Offers come within $658-687/t FOB Baltic ports.
Several fresh deals for urea supplies in February have been signed in Egypt this week. At the same time, spot trade remains dull in Europe.
Export quotes for Kazakh grains hold steady amid slow trade both on export and domestic markets. In general, however, the pace of grain exports this season is slightly higher than in the previous one.