A total of 409,000 tonnes of grain were exported from Ukraine by railways during the period started August 1 and ended August 16 compared with 805,000 t during the entire July.
Prices for EU grains have been showing mixed dynamics, although in most cases quotes have increased. Prices were supported by the forecast of wheat production in Strategie Grains’ August report; the estimate was cut by 1.4 million t to 124.7 million t (which is lower than the previous year’s result of 125.3 million t).
Grain trade is looking brisk in Russia, with lively shipments supporting relevant quotes. Limited traffic in the Kerch Strait (as it is temporarily closed from time to time) along with additional inspections of all passing vessels, still slows down the pace of export shipments (although does not cause major delays).
In Kazakhstan, players note an increase in purchase prices for milling wheat due to decreased number of offers from farmers. However, export quotes hold steady so far.
Prices for Australian barley have surged after China decided to lift anti-dumping duties. Demand for old crop barley has grown significantly, although trade in 2023-24 crop is low. Demand from China, both for old crop and new crop grain, has also increased. Australia’s largest grain exporter, CBH Group, has already received approval to resume…… Read more »
Corn prices have decreased in the United States amid improved crop conditions and forecasts of favorable weather. Additional pressure on corn prices was put by weak demand from U.S. ethanol producers. In addition, private exporters reported selling a total of 251,460 t of corn to Mexico.
Prices for Brazilian corn have inched down due to heavy crops. AgRural analysts raised their estimate for total corn production from 132.3 million t to 135.4 million t. According to Safras&Mercado, farmers harvested 60.3% of safrinha corn by August 4 (74.5% last year).
Export quotes for soybeans have dropped in the United States amid improved crop conditions and forecasts of favorable weather. New crop oilseeds are offered at $527-528/t FOB Gulf of Mexico for shipments in October. Private exporters reported selling a total of 383,000 t of soybeans to China.
There were about 8,700 wagons with various goods waiting to be transferred through Ukraine’s western land border crossing points as of August 17 compared with 7,390 wagons seen in late July.
PJSC Ukrainian Danube Shipping Company (UDP) has announced so-called English auctions for transportation of agricultural products by barges from Ukrainian ports on the Danube to the seaport of Constanta in October.