Problems in meeting contracts
The lack of supplies continues to subdue trading activities in China. This situation renders it difficult for suppliers to meet existing contracts. Although harvesting is underway in Russia, prices are simply too high to be deemed a valid option for buyers in China.
China's production is estimated at around 40,000 mt and will arrive in October/November. Details on the size and quality of the kernels have not been issued so far and traders refrain from speculating on prices. Although new measures to curb the spread of the coronavirus, which may disrupt transportation, have not been introduced so far, the situation remains extremely uncertain and continues to preoccupy traders.
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