Market update week 2
In an official tender that ended earlier this week, Egypt’s state grain importer purchased 420,000 mt of milling wheat, the majority of which came from Russia (60,000 mt of Ukrainian origin), at an average price of $265 per mt FOB. All shipments are scheduled for delivery within February-March and with payment 180 or 270 days after a letter of credit is opened.
In an official tender that ended earlier this week, Egypt’s state grain importer purchased 420,000 mt of milling wheat, the majority of which came from Russia (60,000 mt of Ukrainian origin), at an average price of $265 per mt FOB. All shipments are scheduled for delivery within February-March and with payment 180 or 270 days after a letter of credit is opened.
According to the port authorities, Black Sea port Constanta shipped 36 million tonnes of grain in 2023 (+50%), with Ukrainian grains accounting for around 40% of the total volume. Ukraine shipped roughly 14 million tonnes of grain in 2023, up from 8.6 million tonnes in 2022.
According to the port authorities, Black Sea port Constanta shipped 36 million tonnes of grain in 2023 (+50%), with Ukrainian grains accounting for around 40% of the total volume. Ukraine shipped roughly 14 million tonnes of grain in 2023, up from 8.6 million tonnes in 2022.
CONAB reduces their projection of 117.6 million tonnes (-0.75%) of corn production in Brazil by 900k. The estimate from the USDA is still set 11 million tonnes higher. According to the Rosario Board of Trade, 59 million tonnes of corn will be produced in Argentina this year. That’s +22 million tonnes over last year’s production (+59.5%) and +3 million tonnes over the previous forecast (+5.35%).
CONAB reduces their projection of 117.6 million tonnes (-0.75%) of corn production in Brazil by 900k. The estimate from the USDA is still set 11 million tonnes higher. According to the Rosario Board of Trade, 59 million tonnes of corn will be produced in Argentina this year. That’s +22 million tonnes over last year’s production (+59.5%) and +3 million tonnes over the previous forecast (+5.35%).