A total of 10.97 million tonnes of grain and legumes were exported from Ukraine since the beginning of the current marketing year started July 1 and up to November 15, 2023, which is 30% below the result of the same period of MY 2022/2023.
In the U.S., wheat export prices have declined under pressure from heavy global supply, as well as past rains favorable for crops. However, crop conditions have deteriorated during the week, which should have supported quotes.
Corn prices have risen in Brazil due to concerns about potential production volumes. Delayed soybean planting, along with weather conditions and expectations of reduced planting area, is also weighing on potential corn production.
Grain exports from Ukraine by railways exceeded 1.2 million tonnes in the period started November 1 and ended November 15. To compare, a total of 1.73 million t of grain were carried abroad by railways in October, according to updated reports.
Approximately 10,500 wagons were waiting for unloading at Ukraine’s western land border crossing points on November 15, down 2,355 wagons compared with October 31. In particular, as many as 2,009 wagons were standing loaded with grain on November 15
In the U.S., soybean export quotes have increased amid high importers’ interest and concerns about weather conditions in Brazil. Domestic demand for soybeans also supported the export quotes amid reports of a record processing volume in October.
More than 9,200 wagons with various goods were found waiting for a transfer through Ukraine’s western land border crossing points on November 16 compared with 11,600 wagons in late October.
Grain prices are stable in Australia. Harvesting of winter crops continues. The work is progressing well and is expected to be completed by the end of December (a few weeks earlier than usual).
In mid-November, export prices for Kazakh wheat have inched down. Such dynamics is due to low domestic and export demand, as well as problems with the quality of grain and competition with suppliers from Russia.
Russian grain prices have shown minor shifts despite growing demand and limited offer on the domestic market. By November 14, the volume of concluded contracts for wheat sales amounted to 2.4 million t (against 1.9 million t in October).