Milling Wheat The Black Sea market remained firm last week as the challenging domestic logistics in Russia and slow farmer selling are supporting the old crop FOB market. The new crop (July/August) is offered at a $17/MT discount to the old crop. It is also priced about 2000 RUB/MT ($35/MT) higher than the new crop price at the same time last year. If Russia’s 2018 crop totals 75-80 MMT (as most analysts expect), its farmers will eventually start selling aggressively to secure a good profit. The EU reported that 333,000 MT were exported last week, bringing the total to 15.6 MMT versus 20.5 MMT at the same time last year. The French analysis firm Strategie Grains has lowered its EU export estimate to 20.3 MMT from 21.2 MMT last month...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
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