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.
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.
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
Russian wheat undercuts rivals at Egypt, Iraq tenders