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Listen news recap for 18.05.2024
05/06
DAILY NEWS RECAP
Listen news recap for 18.05.2024
Chicago Wheat Prices Stabilize

Chicago wheat prices remained steady after hitting a two-week low, as concerns about weather-related damage to Russian crops eased. Despite the price fluctuations, international demand for wheat remains robust, with significant purchases from Algeria and Egypt. Soybean prices increased on…

5/06/2024
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  • Trade
Russia’s Sovecon Lowers Wheat Crop Forecast

Russia’s Sovecon agricultural consultancy has reduced its 2024 wheat crop forecast to 80.7 million metric tons, down from the previous estimate of 82.1 million metric tons, due to severe frosts. Earlier in March, the forecast was 94 million metric tons….

5/06/2024
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Prolonged Drought Affects Ukraine Crops

Ukraine has experienced a prolonged absence of rain in May, worsening crop conditions, though the lack of extreme temperatures has prevented critical damage. Despite the dry spell, the country’s agricultural output remains stable, avoiding severe deterioration. Continuous monitoring of weather conditions is essential for crop recovery hopes.

5/06/2024
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China Expands Wheat Stockpile Amid Global Supply Concerns

China plans to increase its wheat stockpile by purchasing more from domestic producers as the world’s top producer and consumer of wheat seeks to secure supply amid recent weather-related damages affecting global production. Adverse weather conditions have impacted crops in…

7/06/2024
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  • Trade
Egypt’s GASC Buys 470,000 Tons of Wheat

Egypt’s General Authority for Supply Commodities (GASC) purchased 470,000 metric tons of wheat in an international tender. The procurement includes 180,000 tons from Romania, 120,000 tons from France, 120,000 tons from Ukraine, and 50,000 tons from Bulgaria. This diverse acquisition…

5/06/2024
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  • Prices
Algeria Buys 840,000 Tons of Milling Wheat

Algeria’s OAIC purchased 840,000 metric tons of milling wheat in an international tender, with prices between $279 and $279.50 per metric ton C&F. The wheat, expected from the Black Sea region, includes Ukraine, Romania, Bulgaria, and possibly Russia. This acquisition…

5/06/2024
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South Korean Importer Secures 65,000 Tons of South American Corn

A South Korean importer has reportedly purchased approximately 65,000 metric tons of animal feed corn from South America in a private deal made on Wednesday, according to European traders. The purchase was made from trading house Posco at an estimated…

6/06/2024
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  • Forecasts
Danube Corridor Spurs Black Sea Markets: 
A Shift in Global Currency Dynamics

The Danube corridor serves as a vital lifeline for Ukrainian exports, providing a crucial gateway to international markets. Its significance lies not only in its geographic advantage but also in its historical role as a key trade route connecting Eastern…

5/06/2024
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