USDA's attache in Moscow says stocks of grain in Russia are the second highest in five years and continue to grow following a good harvest. The increase comes despite robust exports.
Grain stocks in the Southern European Russia, Russia's major grain exporting district, were close to the high levels on the same date in 2010 and 2011. The stocks in those years were record high because of the export ban of August 2010. Wheat stocks at assembling and processing enterprises have also improved, although these stocks were still lower than levels in 2010 and 2011.
"In European Russia wheat prices in rubles continue to increase, driven by high export demand and concerns about the wheat crop in Siberia," the report said.
Container Grain Exports Rise, China Leading Destination
Containerized grain exports between January and June reached a record at more than 299,000 twenty-foot equivalent units, up 5% from the previous year and up 29% from the 5-year average, USDA's weekly Grain Transportation Report said on Thursday.
Despite the disruption to imports of some U.S. dried distillers grains into China, they remain the top containerized grain export, representing 58% of containerized exports for the first half of the year. China continues to be the top destination market, representing 70% of containerized DDGS exports for the first half of the year
British Feed Wheat Sold to U.S. Hog Producer
U.S. hog producer Murphy Brown, a unit of Smithfield Foods, bought a shipment of British feed wheat that will arrive next month, according to a Reuters report quoting a company official that partners with Murphy Brown.
The report said the 25,000 metric ton cargo, or 918,500 bushels, is the first shipment of British wheat to the United States in 2-1/2 years.
British wheat typical is exported to Spain, the Netherlands and Portugal.
Mexico Sugar Deal Not So Sweet Says User Group
A tentative deal that will limit the amount of Mexican sugar imported to the United States has angered a sweetener user group, which claims the deal will drive up sugar prices for consumers and for food and beverage makers.
The United States and Mexico this week reached a deal that will not only limit imports but set a price floor on the sweetener. If the tentative deal is approved, the United States will suspend anti-subsidy and anti-dumping duties against Mexico.
"Entering into a managed trade agreement would not only set a bad precedent for our bilateral trade relationship, it would move America's already protectionist sugar policy in the wrong direction, farther away from a free market approach," the Sweetener Users Association said.
A Reuters report said Mexico expects to ship 1.5 million metric tons of sugar to the United States per year under the new deal, or down 20% from the previous season.