The head of trading for CBH Group, Australia’s largest coop, expects more demand in the short and medium-term due to the loss of exports from the Black Sea area, Bloomberg reported. The firm will offer an additional 500,000 MT of wheat for export. That is on top of the 17 MMT already expected to be shipped out of Western Australia. That would be a 20% increase over the previous export record from the major wheat-producing state. More buyers are starting to book wheat supplies in the third quarter of 2022. Ships are already booked for several months, meaning buyers are booking export shipments further out.
CBH reports there is buyer interest for canola during the “typically dormant time” in the third quarter.
