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In recent years, world corn prices have been supported by a sharp increase in its imports by China from 6-7 million tons to 30 million tons in 2020/21 FY and to 20-22 million tons in 2021/22 FY. This year, as a result of the covid-19 pandemic, China reduced corn imports to 19.01 million tons in the January-October period, which is 27.5% less than the corresponding figure last year. Despite the possible reduction in demand for fodder grain in 2023 against the background of covid quarantines,...

Despite the establishment by the G7 countries and the EU of the maximum price for Russian tanker oil at the level of $60/barrel, the OPEC countries at the meeting on December 4 left the oil production quotas unchanged, taking into account the impact of the price cap mechanism on the world market and the prospects for oil demand from China.   At the previous meeting in October, OPEC+ agreed to reduce oil production by 2 million barrels/day from November 2023, which is equivalent to 2%...

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  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ DAF, $ CIF, $ Wheat mill offals 3100 160 Mustard seeds 65000 Peas 4103 Coriander 35000 Corn 7183 5708 ↓ 336 5220 203 ↑ 3 218 ↓ 4 220 ↓...

Traders' attention is focused on the weather in South America and Australia, where conditions generally favor the completion of sowing and harvesting of wheat.   Wheat harvest is coming to an end in the south of Brazil . The intensity of precipitation has increased to a normal level, which will allow to accelerate the sowing of soybeans and corn. In the central and northern regions, planting of first-crop soybeans and corn is almost complete, and favorable rainfall is improving...

The decision by the US Environmental Protection Agency (EPA) to increase the share of biofuel use in 2023-25 by only 1% disappointed traders, as a result of which quotations for soybeans and canola fell by 2.4-2.8%, and soybean oil by 6.8%.   Thus, the ERA increased the mandatory use of biofuel from 78.09 billion liters by 1% to 78.8 billion liters in 2023, of which 22 billion liters will be modern biofuel (mainly soybean oil). In 2024, the share of biofuel will grow by 5% to 82.79...

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  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ DAF, $ CIF, $ Wheat mill offals 3100 160 Mustard seeds 65000 Peas 4103 9000 Coriander 35000 Corn 7100 5860 ↑ 160 5235 203 ↑ 8 219 ↓ 3 236...

Active tender purchases of wheat by the main world importers supported the quotations, which stopped the fall and even rose by 0.5-2.5% yesterday.   The State Turkish Agency TMO purchased 455,000 tons of mainly Ukrainian food wheat at an international tender at a price of $329.9-344/t CIF with delivery in December-February. The purchase of Ukrainian wheat, not Russian, which is traditionally bought by Turkish importers, will significantly support prices in Ukraine in the near...

The vegetable oil market is under significant supply and demand pressure this year due to the slowdown in global economies and the spread of covid-19 in China (which is the world's largest importer of vegetable oils). In China, protests against quarantine restrictions have now been joined by demands for the resignation of Xi Jinping, which increases market pessimism.   Palm oil prices rose for 10 straight days on the back of a pick-up in exports from Malaysia, which rose between...