Author: Viktoriia Ray
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Tunisia Feed Corn Tender: 25,000t at $258.75/MT
Tunisia secures 25,000 tons of feed corn via ODC tender at $258.75/MT C&F for March 2024 delivery. Technical compliance trumps lowest price, as a cheaper $256.99/MT offer was rejected for failing specs. Demand remains steady in North Africa, with the purchase open to any origin, supporting Black Sea corn sentiment. Market tone is neutral to…
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Russian wheat forecast: SovEcon rejects 91Mt estimate
Forecast divergence: SovEcon maintains a conservative 2026 Russian wheat harvest estimate of 85.9 million tons, rejecting market talk of 91 million tons as unrealistic. Area constraints: No growth in wheat acreage and continued decline in spring wheat plantings limit upside to production unless near-record yields are repeated. Export implications: The 5.1 million ton gap between…
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USDA Export Funding: $212M Boost to U.S. Exports
Funding Boost: USDA commits over $212 million to strengthen U.S. agricultural export promotion efforts. Program Allocation: $181 million goes to 68 organizations via MAP, while $31 million supports 18 groups under FMD. Competitive Pressure: Enhanced U.S. marketing may slightly pressure Black Sea exporters in overlapping destination markets. Freight & FOB Impact: Potential shifts in sourcing…
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Ukrainian Feed Barley Prices Steady Amid Tight Exports
Stable domestic bids: Ukrainian feed barley prices held at UAH 9,000–10,200/t CPT, with southern regions at the upper end of the range. Firming port values: Export prices in ports inched up to USD 218–226/t CPT on tightening availability. Limited farmer selling: Producers remained reluctant to sell despite strong trader demand, supporting price levels. Sentiment: Overall…
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Giurgiulesti Port Sale: Constanta to Invest in GIFP
Ownership Change: EBRD has completed the sale of its 100% stake in Danube Logistics, operator of Giurgiulesti International Free Port, to Romania’s state-owned Port of Constanta. Investment Commitment: The Port of Constanta plans substantial long-term infrastructure investments to expand capacity, upgrade facilities, and enhance regional competitiveness. Stronger Fundamentals: Since EBRD’s 2021 acquisition, Giurgiulesti has delivered…
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Russian Wheat Prices Rise on Black Sea Weather
Bullish: Russian 12.5% protein wheat FOB prices climbed to $233/MT for late-March delivery as storms and ice continue to disrupt Black Sea and Azov Sea logistics. Bullish: February wheat export forecasts were revised higher to 3.1–3.4 MMT, signaling resilient demand despite ongoing shipment constraints. Bullish: Tight near-term availability and constrained port operations are likely to…
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Ukraine Fertilizer Shortage Threatens 2025-26 Grain Exports
Bearish for Ukrainian grain: Nitrogen fertilizer deficit of 100,000–170,000 tons threatens spring sowing and yield potential. Structural supply shock: Domestic ammonium nitrate production fell 49% from 1.99 million tons (2024-25) to 1.016 million tons (2025-26) due to infrastructure attacks and power disruptions. Regulatory bottleneck: Continued ban on calcium ammonium nitrate imports, despite its non-explosive classification…
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Black Sea Sunflower Oil Gains Edge After China VAT Cut
Tax Cut: China reduced import VAT on refined sunflower oil from 13% to 9%, immediately lowering landed costs. New Tariff Line: A dedicated 10-digit code (1512190010) now covers refined sunflower oil under the revised system. Wider Scope: The new classification covers 16 agricultural oils, including refined/unrefined sunflower oil and refined rapeseed oil. Export Boost: The…
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Kazakhstan Wheat Acreage to Rise in 2025
Bullish wheat: Wheat acreage in East Kazakhstan to rise to 163,000 ha, supporting higher grain output underpinned by strong state subsidies. Bullish sunoil: Sunflower area to fall to 235,800 ha, signaling potentially tighter Kazakhstan sunoil supply and support for Black Sea prices. Supportive policy: 4.1 billion tenge in subsidies and fully secured seed supply create…
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Black Sea Sunflower Oil Hits Record High
Bullish: Black Sea sunflower oil hit a record $1,315.00/t on February 13 as regional supply tightens and demand from India remains steady. Bearish: Soybean oil weakened across major origins, highlighting softer sentiment for the broader global vegetable oil complex. Bullish: Soybean meal FOB Brazil surged to a record $347.85/t, underlining strong protein demand and robust…