A total of 120.59 million tonnes of goods of various product groups were transported in the Ukrzaliznytsia rail network during the period started January 1 and ended October 31, 2023, down 7% compared with the same period of the previous year.
The cargo turnover of the Port of Klaipeda increased by 1% in October compared with September.
In the USA, export quotes for soybeans have shown an upturn due to strong Chinese demand. Analysts say China’s oilseed imports will remain strong in Q4 and total shipments in 2023 will be a record.
Winter harvesting continues in Australia. Chinese demand for wheat is growing. Reportedly, China purchased about 2 million t of new crop Australian wheat in October (shipments will start in December).
Prices for Russian wheat are virtually unchanged, while export quotes for barley have inched up. For the first time in the current season, SovEcon analysts have cut their forecast of Russian wheat exports in MY 2023-24, reducing the estimate by 400,000 t to 48.8 million t.
Trade remains slow on the Kazakh grain market. The situation remains difficult as this season the quality of harvested grain is low due to the rainy fall. Only half of the harvested wheat (about 5 million t) is of milling quality, so the presence of Russian grain will only be growing both on the…… Read more »
Brazilian producers show concerns about weather conditions and their impact on the future safrinha corn crop. According to Safras&Mercado, farmers planted 72.4% of planned areas with first crop corn by October 27 (70.1% last year and an average of 67%).
Wheat prices were pressured by weak demand for US-origin grain, ample supplies from Russia, and favorable rainfall in Argentina and Australia.
EU grain prices have been mostly growing this week, which is not attracting importers. The pace of trade is low, and exports are also dull.
Mixed price trend can be seen on the Ukrainian grain export market. Navigation safety issues along the existing route to the Black Sea ports are limiting export volumes, but trade remains quite brisk.