Agriculture

Russian grain exporters have announced a new policy to sell directly to sovereign buyers, impacting international trade dynamics. Key points include: Direct Sales: The Grain Exporters Union stated that deliveries will now be made exclusively to government agencies and sovereign buyers. This decision aims to streamline exports and address concerns over excessive low-priced shipments by […]

The Russian Grain Exporters Union has commenced the publication of indicative export prices for wheat, marking a significant step in establishing a pricing mechanism for its exports. Key details include: Indicative Prices: For wheat with 12.5% protein content, the indicative export prices are set at $240 per metric ton for October, $245 for November, and […]

Ukrainian wheat prices have risen significantly due to strong demand from Asian importers and limited global supply. Key points include: Price Increase: Current conditional prices in Ukrainian ports are nearing $210 per metric ton, with potential growth up to $220.Export Dynamics: The government has imposed limits on wheat exports for the 2024/25 season, capping them […]

The National Oilseed Processors Association (NOPA) is expected to report a significant rebound in U.S. soybean crush for September, estimated at 170.331 million bushels. This marks a 7.8% increase from August’s near-three-year low of 158.008 million bushels and a 2.9% rise from September 2023. Key details include: Soyoil Stocks Decline: Soyoil stocks are projected to […]

A recent train derailment in Mexico has caused the Mexican rail consortium Ferromex and U.S. railroad Union Pacific Corp to temporarily halt permits for some grain rail shipments through Eagle Pass, Texas. Key points include: Temporary Halt: The suspension is in effect until rail traffic is cleared, but overall grain movement volume will not be […]

The U.S. Department of Agriculture (USDA) has raised its forecast for the 2023 corn crop, predicting a harvest of 15.203 billion bushels, marking the second-largest harvest in U.S. history. Key details include: Increased Production: The forecast for corn production was increased from the September estimate of 15.186 billion bushels, with an average yield of 183.8 […]

Russia’s Agriculture Ministry has instructed exporters to refrain from selling wheat below the $250 free-on-board (FOB) price at international tenders. Key points include: Policy Announcement: During a closed-door meeting, the ministry emphasized the importance of maintaining this price threshold to support the domestic grain market.Direct Deals Encouraged: Exporters were advised to engage in direct transactions […]

Iraq is experiencing a significant wheat surplus, with a bumper harvest leading to an estimated net loss of nearly $458 million for the government, which traditionally imports large quantities of wheat. Key points include: The country has a surplus of 1.5 million metric tons of wheat, attributed to favorable rains and government subsidies aimed at […]

Severe weather conditions are significantly reducing wheat output in major exporting countries, leading to a decline in inventories projected to reach nine-year lows and causing a sharp increase in prices. Key points include: Dry conditions in leading suppliers such as Russia and Argentina have adversely affected food production, with Russian attacks on grain ships in […]

Egypt’s Prime Minister Mostafa Madbouly stated that the country has enough wheat reserves to last for more than 5.5 months. This announcement comes amid rising regional tensions, prompting the government to take precautionary measures. Key points include: Egypt is known as one of the world’s largest wheat importers and is currently looking to secure more […]