Export quotes for EU grains have been mainly growing. At the same time, the September report from Strategie Grains has shown increased forecast of wheat and barley production in the EU in MY 2023-24, but these volumes are still lower than last year.
Export prices for Ukrainian grain have been mostly declining this week. Danube ports continue to operate despite Russia’s attempts to reduce or even stop grain exports from Ukraine through constant attacks on infrastructure.
The turnover of various types of cargo increased by 174,000 t to 808,000 t at Ventspils Free Port in August compared with July.
About 340 wagons were transferred daily through the Chop – Čierna nad Tisou land border crossing point as of September 7 (up 19 wagons compared with the precious week). In particular, 304 wagons were moving on export routes (up 19 units), while 36 wagons arrived with imported goods (unchanged).
As many as 1,866 wagons including 110 wagons with sunflower oil, 535 wagons with cakes, 612 wagons with ore and 182 containers were moving to the Izov station on September 13.
A total of 426,000 tonnes of grain were exported from Ukraine by railways during the period started September 1 and ended September 13 compared with 876,000 t during the entire August.
Since the start of the new “soybean dollar” program, Argentine farmers have been ramping up sales of the oilseed. Quotes for new crop (MY 2023-24) soybeans have fallen by $8/t to $484-487/t FOB Upriver (May shipments).
The Australian grain market remains stable. Farmers are monitoring weather conditions and their impact on production prospects. This week ABARES has released a new report on production forecasts for MY 2023-24.
Russian grain suppliers have made price concessions in order to preserve steady demand of importers. According to market participants, Egyptian GASC has contracted 480,000 t of Russian wheat under a private agreement.
In Brazil, corn prices have been following the global trend. According to AgRural, farmers already harvested 88% of the 2022-23 safrinha crop by August 31 (98% as the same date last year) and planted 13% of the planned area with 2023-24 first crop corn.