Russia: Analysis of crop prices by September 22, the avalanche-like fall in prices continues

Published 2023년 9월 23일

Tridge summary

Wheat prices are rising due to active demand from importers in China, Algeria, Egypt, South Korea, Iran, and other countries, as well as problems with moisture supply in Europe, Ukraine, and southern Russia. On the other hand, barley prices are declining due to increased supply in Ukrainian sea ports and a seasonal decline in import demand. Corn prices are also decreasing due to increased supply in the US and Latin America, as well as weak demand for Russian corn.

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

Original content

WHEAT World market Factors leading to rising prices: Active demand from importers - tenders were held in China (up to 600 thousand tons of French wheat), Algeria (600 thousand tons of wheat of unknown origin), Egypt (120 thousand tons of wheat from Romania ), South Korea, Iran and other countries; Problems with moisture supply in Europe, Ukraine and the south of Russia during the active sowing campaign of winter crops; A sharp decline in the share of food wheat in Ukraine - about 40%, with an average value of 70% in previous years. Factors leading to lower prices: Increased supply of wheat and barley for sale in the sea ports of Ukraine as a sign of restoration of supplies after the breakdown of the “grain deal”; Seasonal decline in import demand after a period of active contracting at the start of the season in July-August; At foreign tenders, Russian products were in limited demand due to higher prices, so, for example, Egypt contracted for Romanian wheat; Extension of bans on ...

Source: Zol