Russian wheat returns to export market

After a notable absence from the export market, Russia returned last week, with HGCA reporting that Egypt’s state grain buyer, GASC, indicated that it bought Russian wheat at $256.43/t on a cost and freight basis, for shipment in late November.

Some commentators described the beginning of Russia’s wheat export campaign for the 2014/15 as having a ‘sense of urgency’ and in only it’s first four months Russia sold record amounts of grain compared with the same period in previous years.

Also this week...

It was announced that recent lower prices in corn could translate into fewer planted acres in 2015, potentially putting pressure on bids for beef cattle next year.

US soybean harvest progressed from 53 per cent to 70 per cent complete; however this still trails behind the five-year average of 76 per cent complete for this time of year.

For more markets information, watch our weekly video from Mike Zuzolo. 

Have a great week!

~Gemma

You can follow me on Twitter @5mGemma