In the U.S., soybean prices have grown sharply amid large purchases by Chinese importers. Thus, during the week, private exporters have reported sales of a total of 1.7 million t of soybeans to China and 1.1 million t of soybeans to an unknown buyer (most likely also China) for shipments during MY 2023-24.
In Brazil, corn prices are under pressure from a large offer. Anec forecasts November corn shipments at around 8.35 million t (5.89 million t in November 2022). According to Safras&Mercado, Brazilian producers sold 71% of the 2022-23 safrinha corn crop (69% a year ago and an average of 74.7%).
Despite heavy corn sales in the U.S., relevant quotes have declined due to seasonal pressure, as well as an advancing U.S. harvesting and higher estimates of global production and ending stocks.
In Ukraine, the issue of port security remains open and continues to affect pricing. After another missile attacks in Odesa Region, export quotes have shown an upturn, although navigation along the established corridor continues. Thus, on November 9, six ships with 231,000 t of agri products left the ports of Greater Odesa.
Export prices for EU grains have increased as the tender from Algerian OAIC was quite successful for local traders. Within the tender, traders sold 600-690,000 t of milling wheat at $266/t C&F (part of the volume was bought in France).
Russian grain suppliers have raised offer prices following the general market trend, supported by the tender in Algeria. Thus, OAIC has purchased a large volume of wheat from the Black Sea region and France. According to market participants, Russian wheat was the cheapest at the tender, but deals have been signed not for the…… Read more »
The situation remains difficult on the Kazakh grain export market. The country has almost completed harvesting (nearly 17 million hectares of areas processed, which is 98.7% of the plan), with 16.4 million t of grain collected. This volume includes 11.4 million t of wheat, but 40% of that harvest is ungraded grain.
Prices for Australian grains are falling amid rapidly progressing harvesting and increased offer.
On average, as many as 209 wagons were transferred daily through the Chop – Čierna nad Tisou land border crossing point as of November 9 (down 41 units in two weeks).
About 630 wagons were reportedly heading to the Batiovo – Epereshke land border crossing point on November 13, including 90 wagons with grain and 84 wagons with vegetable oil. As many as 103 wagons of which 81 units with grain were on their way to the Chop – Zahony border crossing on that date.