The Minister of Agrarian Policy and Food of Ukraine Mykola Solskyi held a regular online meeting with the Minister of Agriculture and Food of Bulgaria Kirill Vatiev on the supply of agricultural products.
The Lithuanian freight carrier LTG Cargo (Lietuvos Geležinkeliai) is sending a train with groupage cargo of three customers in containers from the Kaunas Intermodal Terminal to Ukraine. The train has already been formed and will carry PET granules, ammonium sulfate, and empty containers.
US soybean quotes have been under pressure from improving weather conditions in South America. During the week, private exporters have reported sales of 136,000 t of soybeans to China and 121,000 t of oilseeds to unknown buyers.
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.