News

In May, India continued to cut palm oil imports and increase purchases of sunflower and soybean oil amid lower prices.   According to local operators, in May palm oil imports decreased by 14% compared to April to a 27-month low of 441,000 tons, although in the first half of 2022/23 MR averaged 818,203,000 tons per month. At the same time, the import of soybean oil grew by 10% to 290,000 tons, and sunflower oil by 28% to 319,000 tons. The decrease in palm oil imports was caused by a...

In June, representatives of the SCC in Istanbul did not conduct any inspection of vessels within the scope of the grain initiative, which indicates the deliberate blocking of grain exports from Ukraine by representatives of the Russian Federation.   Many experts claim that the grain agreement is more useful for the Russian Federation, as it allows it to export about 5 million tons of grain every month without any restrictions, and also to demand the restoration of transit and export...

The European Commission has extended the ban on wheat, corn, rapeseed and sunflower imports from Ukraine to Bulgaria, Hungary, Poland, Romania and Slovakia until September 15 in order to protect local farmers and eliminate logistical problems caused by the supply of cheap Ukrainian grain.   Ukraine did increase exports of wheat, sunflower and corn to C, but this allowed European processors to get cheap raw materials, increase meat production, due to which food inflation in the EU...

After falling during the past week to the lowest level since 2021, wheat quotations on world exchanges began to recover against the background of intensification of speculative demand and purchases by importers. They are also supported by the uncertainty with the harvest in the USA and Australia, where the production will be lower than last year, as well as the possible termination of the grain agreement due to the Russians blocking the passage of ships to the ports of...

The weighted average purchase price of grains and oilseeds in Ukraine on CPT terminals, EXW elevators, CPT processors, FCA, CPT dollar, FOB, DAF, CIF Purchase prices in Ukraine  EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ FOB, $ DAF, $ CIF, $ Wheat mill offals 4200 135 200 Mustard seeds 60000 Peas 10000 229 Sugar beet pulp gran 9500 Corn 4850 ↓ 50 4945 ↓ 30 170 180 160 196 ↓...

A 5-5.5% increase in oil prices at the end of last week, as well as dry weather in the US corn belt, supported corn prices, although physical demand did not increase.   On Friday, July corn futures rose 2.8% to $239.8/t (+3.2% for the week and +2.1% for the month), and December futures rose by 2.8% to $239.8/t on the Chicago Stock Exchange .1% to $213.1/t (+4.8% and 1.1%). New crop prices are likely to rise to old crop prices on forecasts of heat in the US...

In the second half of the week, oil prices increased actively on the news about the increase in the US national debt limit and in anticipation of the next meeting of OPEC+.   The President of the United States signed an order agreed upon by representatives of both houses of Congress to increase the limit of the US national debt. Disputes over the move, which lasted for several weeks between Democrats and Republicans, led to a sharp outflow of speculative capital from commodity...

A drought is intensifying in the US Midwest, which will dramatically worsen the condition of soybean and corn crops. The heat of 30-33 o C without precipitation that started last week will continue next week, although the temperature will drop to 28-30 o C.   Arid areas of the Central and Southern Plains experienced showers and thunderstorms, but the next week is expected to be almost dry with above-normal temperatures. In the northern plains of the USA, heavy rains continue, which...