On November 14, 2023, the Cabinet of Ministers of Latvia decided to allocate €50,000 from the state budget to contribute to the Grain from Ukraine humanitarian aid program. This is Latvia’s second investment in this program – last year the country also financed assistance in the amount of €50,000.
LTG Cargo (Lietuvos Geležinkelių) is gradually expanding its operations and intends to purchase up to 500 new grain hoppers through public procurement.
The Ministry of Agriculture and Farmers’ Welfare of India has included Ukraine in the list of countries that do not treat grain crops with fumigants containing methyl bromide (CH3Br).
LTG Cargo Ukraine, a subsidiary of Lietuvos geležinkeliai (LTG Cargo), together with the Lithuanian company Tri Trans is organizing the transportation of 44 heavy containers of rapeseed oil from Yahodyn station (Ukraine) to the port of Klaipeda (Lithuania).
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). In particular, 183 wagons were moving on export routes (down 40 units), while 26 wagons arrived with imported goods (down 1 wagon).
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).