Egypt’s state company GASC plans to purchase 50,000 tons of Bulgarian wheat without a tender at a price of 263.77 USD/ton FOB with delivery scheduled between October 5th and 20th.
Egypt’s state company GASC plans to purchase 50,000 tons of Bulgarian wheat without a tender at a price of 263.77 USD/ton FOB with delivery scheduled between October 5th and 20th. The supplier will be the Bulgarian company Buildcom.
During the period of August 1st to 27th, Russia’s grain exports reached 6.4 million tons (+27% compared to the previous year), including wheat exports of 5.355 million tons (+29%). For the entire month of August, grain exports are expected to reach 7.3 million tons (5.8), including wheat exports of 6.1 million tons (4.5).
According to analysts from Ukraine, in the 2023/24 season, the areas planted with winter crops in Ukraine will be reduced by 30% in the absence of the Black Sea corridor for grain exports.
According to the forecast by Germany’s Ministry of Agriculture for the 2023/24 season, the country’s grain production will be 42.23 million tons, which is 2.9% less than the previous year. The wheat production will reach 20.77 million tons (-6%). The rapeseed production is estimated at 4.2 million tons (-3%).
Yesterday, Chicago commodity funds were net sellers of 2,000 wheat contracts and net buyers of 6,000 corn contracts and 6,500 soybean contracts.
According to data from Conab as of August 27, 2023, in Brazil, 84% of the areas planted with second corn crop for the 2022/23 season have been harvested (+5% for the week and 94% compared to the previous year).
The government of Argentina will reintroduce a preferential exchange rate for currency transactions involving soy, known as the “soy dollar,” in September. The rate will consist of two parts: the first part for 25% of the quantity at 790 peso/dollar and the second part for 75% of the quantity at the official rate of 350 peso/dollar. The average purchase rate will be 460 peso/dollar.
Australia has sent its first shipment of barley to China after the cancellation of import tariffs by Beijing. Prior to the imposition of tariffs in 2020, China had been the largest buyer of Australian barley.
South Korean company NOFI has purchased 55,000 tons of wheat of unspecified origin through a private offer without a tender. The transaction price is 273.90 USD/ton C&F with delivery scheduled between September and November.
According to the forecast by India’s Meteorological Department, rainfall in the country in September will be the lowest in the past eight years. The monsoon season in India spans from June to September, typically accounting for 70% of the total annual rainfall.
