Greece is proposing to use its ports in the Aegean Sea as a corridor for Ukrainian grain exports. In particular, this plan envisages transportation of products by rail through Romania and Bulgaria to ports in Thessaloniki and Alexandroupolis.
According to data of the port of Klaipeda, the total transshipment of all groups of goods dropped by 11% year-on-year to 21.26 million tonnes in January – August 2023 compared with the same period of 2022.
A mixed price trend has been reported on the Ukrainian grain export market this week. Meanwhile, quotes have been going down in most cases. Ukrainian wheat is actually offered for shipments from the Black Sea ports, but traders say it is quite difficult to compete with grain of other origins now.
Quotes for EU grains have dropped in the last week of September, attracting the attention of importers. According to market participants, Egypt’s GASC has purchased 170,000 t of wheat originating from Romania (120,000 t) and Bulgaria (50,000 t) at $271.8/t C&F.
U.S. wheat remains uncompetitive on the world market. Progressing harvesting of corn (15% complete), combined with large supplies from Brazil, put pressure on relevant export quotes. However, corn prices have increased amid reports of a large volume sale to Mexico.
Brazilian corn prices have increased this week due to lively trade and exports. Anec forecasts total corn exports in September at about 9.6 million t (10 million t a week earlier).
Export quotes for Kazakh grain have stabilized, but remain quite high. Recent upturns in wheat prices have already led to higher flour prices in Tajikistan, Uzbekistan and Kyrgyzstan. Quotes are not expected to fall due to a smaller than expected harvest and harvesting delays (resulting in loss of quality).
Trade has slowed down on the Russian grain market, which puts pressure on export quotes. However, wheat offer prices are still holding steady this week, while barley quotes have inched down.
The Australian grain market remains quiet in the pre-harvest period. The first deliveries of new crop 2023-24 gain have been reported this week from CBH in Western Australia and Viterra in South Australia.
In the U.S., progressing harvesting of soybeans, combined with large supplies from Brazil, put pressure on relevant export quotes. Harvesting is 12% complete vs. 7% last year and a five-year average of 11%.