Tidbits, Q&A: Grain Prices, Russia-Ukraine, China's Purchases, FOB 8/10/26
- Wright team
- Aug 10
- 4 min read
Tidbits
Russia is intensifying strikes on Ukrainian ports, terminals and shipping infrastructure after Ukrainian attacks on Russian vessels and maritime logistics. The responses are becoming broader and the economic impact is deepening.
Ukraine’s Ag Minister said Sunday expects agricultural exports to fall to about 29.6million mts this marketing year, down 54% from an earlier forecast of 64.4 million mts. Wheat exports could decline 53% to just 8.3 million mts. Odessa’s ports, which normally handle about 90% of Ukraine’s grain exports, have been severely disrupted, while low water levels on the Danube River are limiting alternative routes.
Big spec funds in the European futures market heavily bought into wheat last week. They are around 92% of the 5-year largest long position.
China bought at least another 10 cargoes of USA soybeans in the latest in a flurry of purchases ahead of President Xi Jinping's expected White House visit next month, as three Asian traders said on Thursday. State-run buyer Sinograin purchased 10 to 15 cargoes on Wednesday, the traders said. At least 10 cargoes were for October-November shipment, one trader said. If so, we should see some heavy flash sales later this morning and possibly Tuesday morning. Each "cargo" is about 60,000 mt (2.2 million bushels).
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
