In Australia, wheat prices have shown an upturn amid modest sales by farmers as they assess losses from heavy rains; demand remains firm. Harvesting is still delayed in some regions. Heavy rains have negatively affected wheat quality, but favored spring crops.
Corn quotes are growing in Brazil due to strong global demand, including a large number of tenders. Estimates of corn production in MY 2023-24 are decreasing amid expectations of smaller planted areas of safrinha crop.
US wheat prices have surged amid a large purchase by China. Thus, Chinese importers have bought a total of 1.01 million t of SRW wheat during the week, the largest weekly sales to China since July 2014.
Trade remains dull on the Kazakh markets for milling wheat and feed barley. Low quality of grain this season and accordingly limited volume of marketable grain does not contribute to brisk sales. Competition with Russian traders remains high.
Prices for Russian grain have increased. Quotes for 12.5% protein wheat were supported by GASC tenders: within one of the tenders, 180,000 t of wheat were purchased at $278.25/t C&F, while within another some 420,000 t were bought at $286-288.8/t C&F.
Mixed price trend can be seen on the EU grain export market. Thus, quotes are pressured by moderate consumer interest and ongoing competition with Black Sea traders. Barley prices have grown due to limited offer of this grain.
Export prices for Ukrainian grain have increased amid healthy exports and stable importers’ demand. This week, Egypt’s GASC has purchased 60,000 t of Ukrainian wheat at $269/t C&F within one of the tenders. In addition, an importer from Lebanon has bought 30,000 t of grain with 11.5% protein content at $253/t C&F.
A total of 1,708 wagons were transferred through the Batiovo – Epereshke land border crossing point in November, showing a handling rate of 57 wagons per day (compared with 56 wagons in the previous month) including 35 wagons with grain (up 1.7 units daily from October).
About 257 wagons were transferred daily through the Chop – Čierna nad Tisou land border crossing point as of December 7 (up 15 units per day in two weeks). Approximately 200 wagons per day were moving on export routes (down 3 units), while 57 wagons arrived with imported cargo (up 18 wagons).
Almost 6,300 wagons with grain were found waiting for unloading at Ukrainian sea ports on December 4. Taking into account that approximately 913 wagons per day are accepted at the stations, it might take up to 7 days to serve all the wagons currently standing in the railway network waiting for unloading at grain…… Read more »