Russia: Analysis of crop prices by April 19, record shipments of barley

Published 2024년 4월 20일

Tridge summary

The article provides an in-depth analysis of the global agricultural commodity markets, focusing on the impact of climate factors and regional production changes on the prices of wheat, barley, corn, and sunflower. It highlights how drought conditions in Russia and neighboring countries could push wheat prices higher, while record barley exports and low prices are attracting importers. Corn prices may increase due to crop losses in Argentina and Brazil, despite stable export costs and moderate demand. The sunflower market sees rising prices due to high demand from China and India, and export challenges, alongside domestic price increases in Russia driven by strong demand for sunflower oil and regional shortages of raw materials. Despite potential factors for price decreases, such as Egypt's wheat purchases and declining barley demand in Saudi Arabia, the prevailing conditions suggest a trend towards higher prices for these commodities in the near term.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The climate factor can seriously affect the formation of wheat prices on the world market: drought conditions are likely to intensify in the grain-producing regions of the Russian Federation and neighboring countries. Barley exports in April could hit a record high, and prices are not expected to decline. The cost of sunflower continues to rise against the backdrop of depleted reserves and active demand from processors. Soybeans are still stable, but there are sales on the meal market ahead of the EU decision on import duties. WHEAT World market Factors leading to higher prices: Weather models show the likelihood of a transition to the La Niña climate phenomenon from May-June of this year. This, in particular, may provoke drought conditions in the grain-producing regions of the Russian Federation and neighboring countries. Factors leading to lower prices: Egypt's purchase of 120 thousand tons of wheat of Ukrainian origin for delivery in May at a price of $220 per ton FOB. ...

Source: Zol