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USDA experts did not reduce the forecast for corn production in Brazil, which surprised the market
12.04.2024
WASDE's April supply and demand report cut forecasts for global corn production, consumption, exports and stocks, but by much less than analysts expected, surprising the market and sending prices down. The crop forecast for Brazil was left unchanged, although local agencies lowered their estimates, but the USDA usually makes adjustments ahead of harvest. Compared to the March estimates, the new corn balance for the 2023/24 FY has undergone the following...
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The USDA left its forecast for Brazil's soybean crop unchanged, adding to pressure on quotes
12.04.2024
In April's WASDE supply and demand balance sheet, USDA experts left little to no change in the global soybean balance, surprising the market, which had expected a sharp cut in Brazil's crop forecast and revisions to global production and inventory estimates. Compared to the March estimates, the new soybean balance for the 2023/24 FY has undergone the following changes: The estimate of initial reserves was reduced by 0.84 to 101.31 (93.09) million tons as a...
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In the first half of 2023/24, Ukraine exported 430,000 tons of sugar
12.04.2024
According to customs statistics, in the first half of 2023/24, Ukraine exported 430,000 tons of sugar, which is 60% more than the corresponding figure of the previous season. In particular, in March, the export of sugar increased compared to February from 75 to 81 thousand tons, while in March 2023 it amounted to only 48 thousand tons. If in 2022 and 2023, almost all sugar exported from Ukraine was delivered to EU countries, then after the introduction of restrictions on the supply...
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An increase in export forecasts for Ukraine and the Russian Federation, as well as stocks in the USA, lowers wheat prices
12.04.2024
In the April WASDE supply and demand report, USDA experts increased their forecast for 2023/24 wheat production, consumption and exports, while lowering their estimate of global ending stocks. The main attention is paid to the change in the structure of exports and the redistribution of final balances between exporters, which led to a decrease in wheat quotations on the US and EU exchanges by 1.3-2.2%. Compared to the March estimates, the new wheat balance for 2023/24 MR underwent...
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Purchase prices for grains in Ukraine on April 11, 2024
11.04.2024
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, $ FOB, $ DAF, $ CIF, $ Wheat mill offals 2400 185 Peas 12500 13000 10000 Rye grade II 4400 Sugar beet pulp gran 155 Corn 6569 ↓ 17 5504 ...
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Crop uncertainty in Europe and Australia supports canola prices in the EU, but they will be limited by cheap canola from Canada
11.04.2024
Against the backdrop of Ukrainian UAV attacks on an oil refinery in Tatarstan and an Israeli strike on an Iranian general of the IRGC in Syria, June Brent crude oil futures rose 4% for the week to a 5.5-month high of $89/barrel, which supported vegetable oil quotes , which are used in the production of biodiesel. On the MATIF exchange, May rapeseed futures traded mixed during the week but stabilized at €450/t, while August futures for a new crop in April rose 3.5% to...
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China has upset the market by canceling wheat supply agreements with the US and Australia
11.04.2024
Chinese importers have canceled previously concluded agreements for the supply of large shipments of wheat from the United States and Australia, which upset traders. Thus, the USDA reports on China's refusal to supply 504,000 tons of American wheat, which is the largest canceled batch in the entire history of observations. The delivery of 1 million tons of wheat from Australia was also canceled or postponed indefinitely. On this news, on April 9, wheat...
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Ukraine is increasing maritime exports and reducing automobile exports due to the blocking of the border with Poland
11.04.2024
According to the State Customs Service, in 2023/24 FY Ukraine exported (as of April 10) 37.086 million tons of cereals and legumes, in particular in April - 2.227 million tons, while last year on this date 38.824 million tons of cereals were shipped, of which in April - 848 thousand tons, - reports the press service of the Ministry of Agrarian Policy of Ukraine. In the current season, the following was exported: wheat - 14.541 million tons (13.335 million tons in 2022/23...