In Kazakhstan, grain export quotes hold steady, although market participants note some downtrends. Amid intense competition with Russian traders, Kazakh suppliers will have to make price concessions, but relevant economic benefits remain an open issue.
Australian grain prices are sliding down under the pressure of the ongoing harvesting campaign. Lachstock estimates that 89% of wheat and 92% of barley have been harvested in Western Australia, while South Australian farmers collected 68% of wheat and 79% of barley.
Russian suppliers have raised prices for almost all grains, although the market remains full of cargo offers. Market participants doubt that the current trend will continue and expect quotes to go down as early as next week.
Prices for soybeans have sagged amid concerns about the spread of COVID-19 in China, a key global buyer of this commodity. From Dec 23 till Dec 29, US grain traders sold up to 1 million t of soybeans to foreign markets (including 151,000 t of soy ofthe new harvest).
LTG Cargo Ukraine (subsidiary of Lietuvos geležinkeliai – LTG Cargo transportation company) and Polish PKP Cargo concluded an agreement authorizing LTG Cargo Ukraine to become the operator conducting rail transportation of goods between Lithuania and Ukraine through the territory of Poland.
Stevedoring companies of the Ventspils Freeport processed almost 1.3 million tonnes of various cargo in November. Note that the overall handling volume was 255,000 t higher in October.
The overall volume of cargo handled by the stevedores operating at the port of Klaipeda has not changed much in November compared with October 2022. So, a total of 3.7 million tonnes of goods were processed in November (down 7,000 t against October).
Export quotes for Ukrainian grains have been growing this week supported by insufficient number of cargo offers caused by restrained sales by farmers and high competition for high-quality grain between buyers.
Prices for US-origin soybeans have risen owing to brisk demand from foreign buyers and growing market of soybean meal.