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US upbeat on Ukraine corn exports, Russia wheat sells cheap

US upbeat on Ukraine corn exports, Russia wheat sells cheap

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From WATTAgNet:

U.S. officials are optimistic about Ukraine corn exports for 2015-16. Meanwhile, Russian wheat is selling competitively to Egypt and Iraq, according to reports.

Ukraine

The U.S. Department of Agriculture (USDA) bureau in Kiev forecasts Ukraine corn exports in 2015-16, on an October-to-September basis, at 18.0 million tons.

That is a small increase from the 17.5 million tons the USDA estimates for this season.

The USDA’s official forecast is for Ukraine to ship 16.0 million tons next season. Ukraine, since 2011-12, has emerged as the world’s third-ranked corn exporter, and is a growing rival to the U.S. and Brazil.

Russia

Russian wheat was the cheapest offered to an Iraqi tender recently.

Russian wheat was priced for the Iraqi Grain Board tender as low as $231 per ton, on cost and freight free out (ciffo) basis, with further cargos offered at $233 and $236.50 per ton, traders said.

The prices — for hard wheat of 11 percent protein at a moisture level of 12 percent — compared with $266 per ton for Canadian wheat, and $267.50 per ton for Australian grain, also on a ciffo basis.

US wheat was offered at $285.42 a ton.

Also, in a recent tender, Russia won a piece of two tenders for lower-quality milling wheat undertaken by Egypt’s Gasc

US officials upbeat on Ukraine corn exports for 2015-16

US officials raised doubts about ideas of a cut in Ukraine corn exports next season, saying that farmers’ hunger for financing would allow them to show a small increase, despite a drop in production. Ukraine corn exports in 2015-16, on an October-to-September basis, will come in 18.0m tonnes, the US Department of Agriculture bureau in Kiev said in their first forecasts for next season.

Read more at Agrimoney

Russian wheat undercuts rivals at Egypt, Iraq tenders

Russian wheat proved the cheapest offered to an Iraqi tender, underlining the origin’s status as a source of competitively priced grain also highlighted by purchases by Egypt’s Gasc grain authority last week. Russian wheat was priced for the Iraqi Grain Board tender as low as $231.00 a tonne, on cost and freight free out (ciffo) basis, with further cargos offered at $233.00 and $236.50 a tonne, traders said.

Read more at Agrimoney

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