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%.
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.
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).
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.
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.
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.
Dynamics of average mazut prices, $/tonne
Gondola car price index, €/unit*
Poland’s Minister of Agriculture and Rural Development Robert Telus said that the country will build the first grain port in Gdansk, which will be used, in particular, to service grain transit from Ukraine.
Gondola car rental rate index, €/day