Trade has been dull on the EU grain export market, which put pressure on relevant quotes. Only prices for Romanian wheat have shown an upturn amid the general trend in the Black Sea region. In general, it is difficult for European sellers to agree with buyers: sellers are not ready to make big concessions,…… Read more »
Mixed price trend can be seen on the Ukrainian grain export market. Quotes are supported by brisk trade, although weather conditions in the south of the country and continuing threat of Russian attacks on port infrastructure continue to restrain exports and sales.
Export quotes for Russian grains have grown due to steady importers’ demand and a possible decline in exports. The country’s Ministry of Agriculture may consider banning grain exports if the country’s stocks fall to a critical level of 10 million t.
In the U.S., soybean export quotes are under pressure of the global trend caused by improving weather conditions in Brazil. According to USDA, the U.S. soybean harvesting was complete as of November 19, which also affects pricing.
Export quotes for corn are generally flat in Brazil. Market participants continue to keep a close eye on weather conditions impacting production prospects and thus prices.
The US grain market has been inactive this week due to the Thanksgiving holiday. Wheat prices are sliding down amid high competition on export markets and low demand. However, this week private exporters have reported selling 110,000 t of SRW wheat to China for shipments during MY 2023-24.
In Australia, grain prices have shown an upturn due to slow sales by farmers and a stronger currency. Dry and hot weather favored the wheat harvesting, which is already more than 50% complete, and higher protein levels.
Wheat offer prices are virtually unchanged in Kazakhstan, although suppliers are not giving up attempts to raise them.
Export quotes for Russian grains have inched up this week thanks to increased demand and reduced offer from farmers. The volume of concluded contracts for wheat sales amounted to 2.8 million t by November 21 (against 2 million t a month earlier), while exports in November are expected to reach 4.35 million t.
Mixed price trend can be seen on the EU grain export market, although a downtrend prevails. Tenders from key importers of European grain failed to support prices.