Export quotes for Ukrainian grain dropped significantly amid instability of shipments by sea and attacks by Russia. On the night of August 16, Russian armed forces launched another drone attack on the ports of Izmail and Reni, affecting warehouses and grain storage facilities.
The EU grain market showed a decline in prices for most grains amid pressure from high competition (players noted a huge volume of Russian wheat offered at more competitive prices) and generally favorable weather conditions for the development of crops and field work in the main producing countries.
Prices for Russian grains inched up amid stable importers’ demand and lively export sales. Despite the upturn, quotes remain competitive and attractive.
As many as 562 wagons were heading to the Batiovo – Epereshke land border crossing point on August 21, of which 182 wagons were loaded with grain, 105 wagons with vegetable oil, and 16 wagons with cakes.
About 145 wagons were transferred daily through the the Vadul-Siret – Dornesti (Romania) land border crossing as of August 22 (down 8 wagons compared with the previous week).
The total cargo turnover of the Port of Klaipeda decreased by 395,000 t to 3 million t in July compared with June.
Export quotes for Kazakh-origin wheat increased slightly despite weakening national currency. However, trade remains limited, and players fear another price decline due to the inflow of smuggled Russian wheat.
In Brazil, trade is gradually perking up in the corn segment, which has a corresponding impact on prices. Although consumers still do not hurry to buy corn, hoping for lower prices.
In Australia, uncertainty remains over the new crop due to weather conditions, which is holding back producer sales, slowing export trade and supporting prices. In addition, the Grain Industry Association of Western Australia (GIWA) lowered production estimates for Western Australia due to continued dry conditions in most agricultural regions.
Quotes for U.S.corn dropped amid improved crop ratings. According to the USDA, as of August 13, 59% of corn crops were in good/excellent state against 57% a week earlier and last year.