Grain export quotes have shown a noticeable drop on the Russian market. Pressure on prices came from slow trade caused by heavy crop and high export potential this season. According to country’s Agriculture Ministry, the gross grain harvest may reach 135 million t including 90 million t of wheat
A total of 12,200 wagons were waiting for unloading at Ukraine’s western land border crossing points on October 11, down 796 wagons compared with September 30.
During a meeting of Ukrainian, Romanian, and Moldovan railroaders, Valerii Tkachev, Director of the Commercial Department of Ukrzaliznytsia JSC, said that discounts on tariffs for the transportation of Ukrainian agricultural products have not yet been introduced.
Export quotes for U.S. soybeans have dropped amid lively world trade and ongoing harvesting. Private exporters have sold 397,000 t of soybeans to China for shipments during MY 2023-24. Soybean harvesting is 23% complete against 20% in 2022 and a five-year average of 22%.
Harvesting is underway in Australia, which is putting pressure on quotes. At the same time, uncertainty about the volume and quality of the new crop is holding back producers’ sales. Trade remains steadily dull.
Quotes for Brazilian corn are falling amid abundant supplies. Anec estimates Brazil’s corn exports in September at 9.3 million t vs. 6.4 million t last year. Anec experts forecast October corn shipments at 8.9 million t (6.8 million t in October 2022).
Quotes of EU grains have decreased following the futures prices amid the info about vessel calls in Ukraine’s Black Sea ports. Continuing competition with Russian grain traders (who keep reducing their offers) also put pressure on prices.
Export prices for Ukrainian grain continue to decline. Ongoing problems with grain shipments are putting pressure on quotes. During the week, Russian troops have launched another drone strike on the port infrastructure in the Izmail district.
Poland’s Minister of Agriculture and Rural Development Robert Telus said that the country will build the first grain port in Gdansk, which will be used, in particular, to service grain transit from Ukraine.
About 2,800 wagons with grain were waiting for unloading at Ukrainian sea ports on October 9. Taking into account that approximately 412 wagons per day are accepted at the stations, it will take about 7 days to serve all the wagons currently standing in the railway network waiting for unloading at port terminals.