Trading Activity Begins to Recover on the Kazakhstan Wheat Market

Last week, the wheat market in Kazakhstan saw a gradual recovery in trading activity, which had previously slowed down due to loading restrictions and coordination limits imposed by Kazakhstan Temir Zholy (KTZ). This was reported by Yevgeny Karabanov, head of the analytics committee at the Grain Union of Kazakhstan, via his Telegram channel.

According to the Grain Union of Kazakhstan (GUK), prices for almost the entire range of wheat remained unchanged, with the exception of 3rd-class wheat with 23% gluten content, which increased by 1,000 tenge per ton. Domestic EXW prices as of October 25 at elevators in the Akmola, Kostanay, and North Kazakhstan regions (including 16% VAT) stood as follows: 3rd-class wheat (23–24% gluten) at 90–93 thousand tenge/t, 25–26% gluten at 91–95 thousand tenge/t, 27% gluten at 96–100 thousand tenge/t, 28–29% gluten at 100–105 thousand tenge/t, and 30%+ gluten at 106–110 thousand tenge/t.

Regarding other grain crops on the domestic market, 4th-class wheat is priced at 86–90 thousand tenge/t, and 5th-class wheat at 83–86 thousand tenge/t. Feed barley demonstrated a notable price increase, rising by 3,000 tenge per ton domestically. This upward movement is driven by strong demand from feed flour producers, as well as reviving demand from China and Uzbekistan.

Export shipment volumes remained restrained last week due to severe infrastructure congestion and ongoing KTZ restrictions. Karabanov specified that restrictions remain in place for several stations along the Uzbek Railway. On export markets, prices for almost all types of wheat remained stable, except for 3rd-class wheat with 28–29% gluten, which decreased by 2 USD per ton.

Conversely, export quotations for barley increased across all delivery bases. According to GUK data, prices under DAP Saryagash terms reached 208–213 USD/t (+3 USD), FOB Aktau stood at 210–215 USD/t (+5 USD), and DAP Dostyk/Altynköl prices were recorded at 211–216 USD/t (+3 USD). Freight rates in the Caspian Sea toward the northern ports of Iran remained unchanged over the week, with shipping from Aktau at 90 USD/t and from Astrakhan at 125 USD/t.