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.
About 11,480 wagons with various goods were found waiting for a transfer through Ukraine’s western land border crossing points on November 1 compared with 11,600 wagons in late October.
According to the latest data, almost 1.66 million t of grain were exported by railway in Ukraine in October 2023 compared with 1.07 million t in September 2023. In particular, shipments through the ports reached 927,000 t, while deliveries to land border crossing points averaged some 729,000 t.
Approximately 5,700 wagons with grain were found waiting for unloading at Ukrainian sea ports on November 2.
According to the Resolution of the Cabinet of Ministers of Ukraine No. 1133 (dated 31 October), the Government amended its Resolution No. 1466 (dated 27 December 2022) “On Approval of the Lists of Goods Subject to Licensing and Quotas for 2023”, in particular, to expand the list of agricultural products subject to licensing for…… Read more »
Prices for Ukrainian grain have shown an upturn this week. The announced suspension of movement along the alternative “grain corridor” somewhat limited export volumes, but overall trade has been quite brisk. At the same time, players note the recovery of barley demand, although trade is now mainly taking place inside the country.
The EU grain market has shown a decline in export quotes despite the reduced forecast of wheat exports by 1 million t to 31 million t (according to the European Commission). This is 22% lower than last year’s export volume.