Articles By Masha Belikova
The Russian government has continued to raise the export tariffs on wheat and corn, and also increased the tariff on barley for the period December 4-10, while the country’s national currency has lost 9% of its value, an update from the country’s agriculture ministry showed on Friday November 29.
Turkey’s state-backed grains agency TMO has sold a total of 150,000 tonnes of barley in its export tender that closed on Thursday November 28, sources have told Fastmarkets.
A buy tender launched by Mustaqbal Misr, which had presented itself as a new entity of the Egyptian government, has gone unfilled according to trade sources, with some saying that they had not taken the tender seriously amid doubts over the new company and its documentation.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean fell to new lows in the week to Wednesday November 27, with slow exports still not absorbing tonnage and weighing on rates.
Bangladesh’s state buying agency, the Directorate General of Food (DGF) has received only three offers in its third 2024/25 marketing year delivery, optional-origin milling wheat tender, which closed on Monday November 25, sources told Fastmarkets.
Algerian state buyer, the Office Algerien Interprofessional des Cereales (OAIC), has returned to the market over the weekend looking for optional origin milling wheat for shipment into shallow water ports, according to the official document released on November 24 which was seen by Fastmarkets.
Estimates of grain output in Western Australia, the key exporting state in the country, have continued to improve, but the quality was expected to be mixed, the Grain Industry of Western Australia (GIWA) said in its monthly report, published on Friday November 22.
The Russian government continued to increase its export tax on wheat, as well as increasing the corn tax for the period of November 27 to December 3, but lowered its rates for barley, according to an update from the country’s agriculture ministry on Friday November 22.
Taiwan’s Flour Milling Association (FMA) bought 80,000 tonnes of milling wheat of US origin in a tender on Thursday November 21, sources told Fastmarkets.
South Korean Nonghyup Feed Inc (NOFI) purchased a 66,000-tonnes corn cargo in a private deal on Wednesday November 21, while MFG was seen in the market trying to secure a similarly priced cargo on Thursday but did not succeed, sourced told Fastmarkets.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean fell to new lows in the week to Wednesday November 20, with exports still not sufficient to absorb tonnage, weighing on rates.
The Turkish government could issue additional corn import quotas under preferential tariffs in January after over two thirds of an earlier short-term quota was filled, with the aim of regulating domestic market prices, sources told Fastmarkets.
Russian winter wheat planting progressed significantly during the week to Monday November 18, while the grain and oilseed harvest moved slowly, already reaching the final stages, according to data seen by Fastmarkets.
The Turkish government is set to extend restrictions on wheat imports until February 2025 and potentially for longer amid high levels of government-held stocks, trade sources have told Fastmarkets this week.
The Russian government raised its tax on wheat exports further for the November 20-26 period while lowering its rates for corn and barley, according to an update from the country’s agriculture ministry on Friday November 15.
Concerns have been mounting over a potentially significant reduction in Russia’s grain export quota for the second half of the 2024/25 marketing year, as Russian grain exports continue at an almost record pace while production has dropped, sources told Fastmarkets.
South Korean buyers remained active in the market, recently buying 65,000 tonnes of wheat and up to 133,000 tonnes of corn privately and via tenders, sources told Fastmarkets on Wednesday November 13.
South Korean feed importer Major Feedmill Group (MFG) purchased a feed wheat cargo for February 25 arrival in a private deal on Monday November 11, sources told Fastmarkets.
The Ukrainian government has released the minimum export prices for a list of agricultural goods in an official document from the country’s Ministry of Agrarian Policy and Food seen by Fastmarkets on Monday November 11.
Russia's weekly wheat exports through the Black Sea ports fell by 10% to 1.134 million tonnes in the week ended Monday November 11, down from 1.259 million tonnes a week earlier.