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.
Trade remains dull on the Kazakh grain market. Quality issues and the presence of Russian suppliers in the country’s business space do not contribute to high pace of sales.
Export prices for Russian grains keep sliding down amid pressure from large offer and insufficient importers’ demand.
In Australia, winter harvesting is progressing well and buying interest continues to grow. Wheat and barley prices are largely stable.
Up to 250 wagons were transferred daily through the Chop – Čierna nad Tisou land border crossing point as of October 26 (down 41 units in two weeks). In particular, 223 wagons were moving on export routes (down 35 units), while 27 wagons arrived with imported goods (down 6 wagons).
Approximately 534 wagons were reportedly heading to the Batiovo – Epereshke land border crossing point on October 30, including 99 wagons with ore, 113 wagons with grain and 106 wagons with vegetable oil.
Brazilian corn prices are under pressure from robust sales and exports. Meanwhile, according to Agrinvest, Brazilian producers do not hurry to buy safrinha corn seed for the 2023-24 planting because of low corn prices.
U.S. grain prices have been suffering pressure from harvesting and improving weather conditions in major exporting countries. Corn harvesting is progressing well in the U.S., putting pressure on quotes along with strong competition from Brazilian products.
Soybean harvesting is progressing well in the U.S., putting pressure on quotes along with strong competition from Brazilian products.