Author: Viktoriia Ray
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SovEcon: Russian Wheat Forecast Raised to 89.7 Mt
SovEcon raised its 2024 Russian wheat harvest forecast to 89.7 million tonnes, up 2.1 million tonnes from 87.6 million tonnes. Favorable weather and stronger winter wheat prospects are the main drivers behind the upward revision. Late April weather remains a risk, with temperatures forecast 4–6°C below normal, though still above freezing. Market sentiment is neutral…
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Kazakhstan Wheat Export Opens Rail Route to Vietnam
New route established: Kazakhstan successfully shipped over 15,000 tons of wheat to Vietnam in 2025 via a multimodal rail-sea corridor through China. Diversified export corridors: The new route reduces Kazakhstan’s reliance on traditional Black Sea export channels for wheat. Logistics cooperation: Kazakhstan’s JSC NC KTZ and Vietnam Railways agreed to expand freight volumes and enhance…
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Russian Fertilizer Export Quota Hits 20M Tons
Supply Constraint: Russia sets a 20 million ton fertilizer export quota for June–November 2026, limiting global availability. Domestic Priority: Quotas aim to secure sufficient fertilizer supplies for Russian farmers and feed producers during peak demand. Market Impact: Tighter export volumes may support higher global fertilizer prices and raise input costs for competing grain regions. Russia’s…
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Ukrainian Corn Export Prices Surge on Turkish Demand
Bullish: Ukrainian feed corn prices at ports climbed USD 3-5/t w/w to USD 215-224/t CPT on strong Turkish demand. Bullish: Turkey’s 3 MMT corn import quota with a reduced 5% duty is creating immediate buying interest in Ukrainian origin. Bullish: Ukrainian producers are withholding spot offers, tightening supply in anticipation of further price gains. Bullish:…
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Russian Oil and Meal Exports Surge to 300K Tons
Record Exports: Russian vegetable oil and meal shipments to the Middle East (ex-Iran) hit a record 300,000 tons in March, up 53% month-on-month and 57% year-on-year. Turkey-Driven Demand: Turkey absorbed 82% of total volumes, led by strong imports of soybean meal, sunflower meal, and sunflower oil. Geopolitical Reorientation: Regional buyers are diversifying away from traditional…
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Ukrainian Sunflower Oil Prices Hit Four-Year High
Bullish: Unrefined sunflower oil at Ukrainian ports has risen USD 30/t over four weeks to USD 1,320/t CPT as of April 22, marking a four-year high on tight seed supply and strong global vegetable oil markets. Bullish: This is the fourth consecutive week of price increases, supported by higher crude oil, palm, and soybean oil…
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Argentine Soybean Meal Exports Fall – Global Market Alert
Bullish: Argentine soybean meal prices surged to $379/tonne, up 13% over three months and 18% year-on-year, supported by low inventories and processor margin expansion. Bearish: Global Q1 2026 soybean meal export growth was only 1.5% YoY, signaling weak demand expansion and limiting upside for alternative origins like the Black Sea. Structural Shift: Demand is increasingly…
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Jordan Wheat Tender: 60,000t Secured at $273.99
Jordan Secures 60,000 Tonnes of Wheat at Competitive Prices Jordan’s MIT purchased 60,000 tonnes of random-origin milling wheat at $273.99/tonne C&F, covering 50% of its 120,000-tonne tender. Cargill won the tender with the lowest offer, beating four major competitors by $1.41–$10.50/tonne. Delivery is scheduled for August 16–31 to Jordan’s Aqaba port, setting a benchmark for…
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Ukrainian Corn Prices Rise Amid Tight Supply
Bullish: Ukrainian feed corn port prices increased by USD 2/t to USD 212-220/t CPT-port on tight farmer selling and strong domestic demand. Bullish: Domestic feed corn bids remained firm at UAH 9,000-10,600/t CPT, supported by active interest from processors and traders. Bearish: Declines in related commodity markets are limiting further upside and adding mild pressure…
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Global Soybean Crushing Surges 3.9% — Market Impact
Global crush expands: 2025/26 global soybean crushing forecast raised to 100.26 mln t, up 3.9% year-on-year and 2 mln t versus prior estimate. U.S. strength: U.S. crushing in Sept–Mar reaches 42.6 mln t (+8.8% y/y), supported by expanded capacity and stronger soybean oil and meal demand. South America resilient: Brazilian and Argentine crush outperform expectations…