Ukraine from the beginning of 2022/2023 marketing year (July-June) until February 3, exported 27.46 million tons of cereals, including 15.68 million tons of corn (57.1% of total supplies), 9.84 million tons of wheat (35.8%) and 1.83 million tons of barley (6.7%).
As reported on the website of the Ministry of Agrarian Policy and Food on Friday, the rate of grain exports since the beginning of this MY is 29.8% lower than the same period of the previous MY, when 39.12 million tons were delivered abroad. At that, the highest average daily rate in this MY with the least lagging behind last year’s figure was reached on January 9 (“minus” 29.61%).
According to the Ministry, Ukraine exported 15.68 million tons of corn (-2.1% compared to the same period last year), 9.84 million tons of wheat (1.75 times less), 1.83 million tons of barley (3 times less), 12.8 thousand tons of rye (12.3 times less) and 85 thousand tons of flour (+33%) from the beginning of 2022/2023 MY to February 3 this year.
It is specified that Ukraine exported 483 tons of grain since early February, including 362 tons of corn, 107 tons of wheat, 9 thousand tons of barley and 1.9 tons of flour.
As follows from the Ministry data, during the period from January 27 to February 3, 209.4 thousand tons of grain has been supplied to foreign markets on average per day, whereas during the preceding period from January 20-27 – 121.1 thousand tons / day (an increase of 1.73 times), on January 9-20 – 140 thousand tons / day, on January 2-9 – 121.7 thousand tons / day, and on December 21 – January 2 – 196.4 thousand tons / day on average.
As reported, Ukraine in 2021/2022 MY exported 48.51 million tons of grain and leguminous crops, which is 8.4% higher than in the previous MY, despite the full-scale invasion of Russia and the difficulties with the export of agricultural products due to the blockade of Ukrainian seaports. 18.74 million tons of wheat (12.6% more than in 2020/2021MY), 23.54 million tons of corn (+1.9%), 5.75 million tons of barley (+35.9%), 70.9 thousand tons of flour (-44.1%) were supplied to foreign markets.
Ukraine in 2020/2021 MY exported 44.72 million tons of grain and leguminous crops: 16.64 million tons of wheat, 23.08 million tons of corn, 4.23 million tons of barley, 126.9 thousand tons of flour and 18.4 thousand tons of rye.
In 2019/2020, Ukraine exported 56.72 million tons of grain and leguminous crops.
Light snow is expected in Ukraine on Saturday, February 4, in the southern part of the country – light wet snow, in the Crimea with rain, in the western regions moderate, in Transcarpathia and Prikarpattya strong snow and snowstorm.
According to the Ukrhydrometeocenter, the roads of the country are slightly icy. The wind in the western part of the northwest, on the left bank of the south-east, 7-12 m / s, in the Carpathians, during the day in the western regions sometimes gusts of 15-20 m / s.
The temperature at night is 1-6° frost, in the Carpathians – up to 8° frost; during the day – from 3° frost to 2° warm, in the south – 0-5° warm.
February 4, light snow in Kiev. The roads are slightly icy in places. The wind is north, 7-12 m/s. The temperature at night is 3-5°C below freezing, during the day it is about 0°C.
According to the Central Geophysical Observatory of Boris Sreznevsky in Kiev on February 4, the highest temperature was recorded at +13.7 ° C in 2002, the lowest at night -26.7 ° C in 1911.
Sunday, February 5, with light snow at times, and rain in the Crimea. There is some icy roads. The wind is north, north-east, 7-12 m / s, in the southern part of the country sometimes gusts of 15-20 m / s, and blizzards.
Night temperature 5-10° frost, daytime 1-6° frost, in the south-eastern regions near 0°; in the Carpathians and Transcarpathians at night 12-17° frost, daytime 6-11° frost.
February 5, light snow at times in Kiev. The roads are sometimes covered with ice. Wind is north-east, 7-12 m/s. The temperature at night is 5-7° frost, and during the day – 2-4° frost.
The U.S. dollar is getting stronger against the euro and the pound sterling in trading on Friday, getting cheaper against the yen.
The ICE-calculated index showing the dollar’s performance against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) is gaining 0.07%, while the broader WSJ Dollar Index is up 0.08%.
The euro/dollar pair is trading at $1.0894 as of 8:00 a.m., up from $1.0911 at the close of the previous session.
The pound was down to $1.2212 from $1.2224 at the close of the previous session.
Both the European Central Bank (ECB) and the Bank of England raised key interest rates by 50 basis points (bps) on Thursday, with the European regulator saying it intends to raise them by the same amount at its next meeting in March.
Britain’s central bank lowered its inflation forecasts for 2023-2025, while ECB President Christine Lagarde said risks to both economic growth and inflation in the euro zone have become more balanced.
The day before the Federal Reserve raised its prime rate by 25 basis points. The rate had been raised 50 bps at the previous meeting and had been raised four times before by 75 bps.
The head of the US Central Bank Jerome Powell acknowledged at a press conference following the meeting for the first time that the “disinflationary process has begun”. He also said that the rate will not exceed 5% and reiterated that the Fed can achieve slowdown in inflation without causing significant harm to the economy.
The value of the dollar paired with the yen fell to 128.3 yen in trading on Friday, compared with 128.72 yen the day before.
President of the European Commission Ursula von der Leyen announced that Ukraine will join the EU’s key programs.
“We are including Ukraine in a number of key EU programs. Ukraine is joining now or later that year to the single market program, we just signed this, the program in justice, civil. Very soon you will be able to apply for funding by describing different types of projects. This means more support for small businesses within the single market in Ukraine,” she said at a joint press conference with Prime Minister Denis Shmygal in Kiev.
Speaking about the program in the field of justice, von der Leyen noted that Ukrainian lawyers would be able to take part in various projects. Thus, the specialists from the EU and Ukraine will be able to build a long-term partnership.
According to her words, Ukraine will not be charged any fees for the participation in the programs.
Besides, the EU will open a Horizon Europe Program Office in Kiev by mid-year, which will promote EU funding opportunities, offer technical support to Ukrainian researchers and innovators and strengthen ties between Ukrainian and European institutions.
A 15-point roadmap for Ukraine’s access to the EU internal market was also agreed upon.
In addition, in the area of roaming, an agreement was signed on a six-month extension of voluntary measures by EU and Ukrainian operators on free calls between the EU and Ukraine.
Oil prices continued to decline on Friday, ending in minus territory for the second week in a row amid some weakening of traders’ optimism about demand prospects in China and the continuing growth of US inventories.
April Brent crude futures on London’s ICE Futures exchange stood at $82.01 a barrel by 7:10 a.m. Friday, down $0.16 (0.19%) from the previous session’s closing price. Those contracts fell $0.67 (0.8%) to $82.17 a barrel at the close of trading on Thursday.
The price of WTI futures for March crude oil at electronic trades of NYMEX fell by $0.16 (0.21%) by that time to $75.72 per barrel. By closing of previous trades these contracts have dropped by $0.53 (0.7%) to $75.88 per barrel.
Both Brent and WTI ended trading Thursday at their lowest levels since Jan. 10.
Since the beginning of this year, oil has been trading in a range of about $10 a barrel. On the one hand, the market is waiting for an upswing in demand in China after the lifting of quarantine restrictions in the country, on the other hand – it fears a decline in activity in developed countries in connection with the continued increase of interest rates by leading global central banks, said Bloomberg.
In addition, from next week the EU embargo on the supply of Russian oil products, introduced in response to the continuation of Russia’s full-scale war against Ukraine and accompanied by the initiative of the price ceiling, will come into effect, and traders will wait for the consequences of this decision.
“The oil market is in limbo, waiting for tangible signs of demand growth in China,” notes Vanda Insights founder Vandana Hari. – The factor of the ban on Russian oil products to the EU is not the main one, but it still creates some uncertainty.”
Climate change in Spain is threatening a key ingredient in the diet of pigs, acorns from oak forests, which could affect the production of premium Iberico Beyota jamón in the country.
Iberico Beyota jamón is a premium Spanish jamón that can sell for more than 100 euros per kilogram. It is made from black-legged pigs that must spend their last month of life eating acorns in oak forests.
In recent years, however, due to unusually hot and dry summers, fewer acorns have grown on the oaks. This fact, as well as a drop in the market value of the product, has led to a 20% reduction in jamón production in the autonomous region of Extremadura.
The summer of 2022 was the hottest in Spain’s history and also the third driest. In 50 years, rainfall in Extremadura decreased by 35%. That said, even if next summer isn’t as hot, it won’t guarantee plenty of acorns in the future.
“I expect that this year, after last summer’s drought and winter with little rain, could be the worst in the 40 years I’ve been working here,” said Francisco Esparrago, president of jam producer Señorio de Montanera.
Jamon producers could import acorns, but Esparrago does not approve of the idea. Imported acorns could bring new diseases, he said.
