Rusagrotrans forecasts wheat exports from Russia in August to reach 5.1 million tons (compared to 4.8 million tons in the previous estimate).
From ProZerno, the export price of sunseed oil from Russia for 2023/24 is expected to be within 850 – 1,050 USD/ton. Deviations from this range are unlikely.
During the period of July 1st to August 28th, 2023, Ukraine has exported 4.157 million tons of grain crops (compared to 3.964 million tons in the previous year), including 1.884 million tons in August (compared to 2.264 million tons). They have exported 1.773 million tons of wheat (compared to 952,000 tons), 460,000 tons of barley (compared to 165,000 tons), and 1.916 million tons of corn (compared to 763,000 tons).
During the week of August 17th to 23rd, wheat exports from the French port of Rouen reached 64,480 tons (a decrease of 30% compared to the previous week). 33,000 tons of wheat were sent to Morocco, 18,180 tons to Senegal, and 14,300 tons to Angola. The export of barley is 75,510 tons, primarily to China. Another French port, La Pallice, exported 33,000 tons of wheat to Angola and 30,000 tons of barley to China.
According to the Canadian Ministry of Agriculture’s estimate as of August 1st, 2023 (the beginning of 2023/24), wheat stocks in the country are at a record low of 3.24 million tons (compared to the previous lowest level of 3.66 million tons in 2021/22). MarketsFarm expects a wheat production of 30.4 million tons, while the Ministry of Agriculture of the country expects 33.2 million tons.
According to data from GAPKI, 3.5 million tons of palm oil were exported from Indonesia in June, which is a 55% increase from May. Oil production reached 4 million tons (a 13% decrease), and reserves are at 3.7 million tons (a 21% decrease).
South Korean NOFI has purchased 55,000 tons of wheat with unspecified origin at a price of 273.90 USD/ton C&F, with delivery scheduled for September to November.
India has exited the grain deal with Russia. India has also imposed additional barriers to rice exports, and wheat exports were stopped months ago. The Russians had offered a price of 260 USD/ton FOB for wheat. There might be other requirements from the Russians that the Indians have not accepted. India will seek smaller quantities of wheat imports from other exporters, including the Black Sea region – Ukraine, Romania, and Bulgaria. Vietnam is lifting restrictions on grain imports from Canada (implemented in 2018). This is potentially being done in connection with the halted shipments from India.
