U.S. corn prices remain under pressure from ongoing harvesting and competition from Brazil, but closer to mid-week, quotes got some support from the monthly USDA report. According to the USDA, by October 8, U.S. farmers harvested 34% of the planned corn crop
The Kazakh grain market is stable. In the October report, USDA analysts have significantly reduced the estimate of wheat production in Kazakhstan in MY 2023/24 – to 13 million t (from 15 million t projected in September).
In Russia, grain export quotes have been mostly decreasing. Huge export potential and insufficient demand are the main reasons for such price dynamics.
EU grain prices continue to decline amid competition with traders from the Black Sea region and good export forecasts. Thus, analysts at FranceAgriMer have raised wheat export forecast from France in the current season by 300,000 t to 9.8 million t.
Stevedores of the Liepaja FEZ all together reached the total cargo turnover of 620,000 t in September, exceeding the result of August by almost 116,000 t.
The Ventspils Freeport reported a 324,000 t increase in the September turnover of all cargoes to 1.1 million t, showing a 40% surge month-on-month. The growth was seen in all groups of cargoes.
Rīgas Universālais Termināls (Riga Universal Terminal, RUT) has received and unloaded the first container train with Ukrainian agricultural products delivered to the Freeport of Riga by SIA LDZ Cargo, a subsidiary of VAS Latvijas dzelzceļš.
Approximately 3,300 wagons with grain were found waiting for unloading at Ukrainian sea ports on October 12. Taking into account that approximately 417 wagons per day are accepted at the stations, it will take about 8 days to serve all the wagons currently standing in the railway network waiting for unloading at port terminals.
Almost 504,000 tonnes of grain were exported from Ukraine by railways during the period started October 1 and ended October 11 compared with 1.07 million t during entire September.
The cargo turnover surged by 30% month-on-month at the Freeport of Riga in September compared with August.