Today, on August 10, Ukrainian Agrarian Ministry and trade community finally signed the Memorandum that allows exporting 16 MMT of total wheat, including 8MMT of food quality (1-5 classes) and 8MMT of feed quality (class 6). In September 2018 Memo correction numbers is quite possible, even is rather likely, reports UkrAgroConsult.
Today, August 10, the USDA will publish a new forecast for 2018 grain production. We expect this USDA report to appreciably adjust the forecasts for the Black Sea grain market.
Last week substantial price growth continued in the Russian wheat market, fueled by both global and Black Sea market trends.
The Egyptian state buyer GASC purchased 21.5 KMT of sunflower oil and 20 KMT soybean oil in a tender held on August 8, 2018
In the beginning of the 2017/18 agricultural season, navigation in the Kerch Strait was restricted because of the construction of a bridge linking the Crimean and Taman peninsulas.
The harvest of peas in Ukraine is in full swing. It is roughly 80% complete.
In July, the European part of Russia was dominated by warm weather (up to 25-28°C in the daytime), even sometimes hot (30-35°C, up to 40°C in the south), with rains of various intensity.
8 MMT of 1st -5th class wheat – this is how much the Ministry of Agrarian Policy and Food of Ukraine proposes to indicate in a memorandum
Due to attractive export prices for this raw material, crushers could not compete in full with traders in the domestic market in the 2017/18 season. Ultimately, over 90% of the 2017 rapeseed crop was shipped abroad.
On August 2, Egypt purchased 240 KMT of milling wheat from Russia & Romania to be delivered on September 11 – 20, 2018 at an average price of USD 253.31/MT C&F.
Ukraine can limit milling wheat exports? This news disturbed the agriculture community on Thursday evening. However, this information has not been confirmed. It’s only rumors.