Analysis of harvest prices as of December 8th in Russia

Published 2023년 12월 9일

Tridge summary

Rising wheat prices are driven by increased purchases from Egypt and reduced minimum stock requirements in India, while no significant factors are leading to price reductions. In the barley market, the expected price increase did not materialize due to weak grain receipt rates at ports, but an increase in exports is expected to drive prices up. Corn prices are rising due to reduced harvest forecasts in Brazil and growing demand from the European Union, while high reserves among farmers are leading to lower prices. Sunflower prices are stable on the world market, but increased purchases of palm oil by India and higher export rates from Ukraine are causing prices to drop in the Russian market.

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: Increased purchases by Egypt. Over the past week, two tenders were held; as a result of the first, 180 thousand tons of wheat were purchased, including 120 thousand tons from Russia; according to the results of the second, 420 thousand tons of wheat of exclusively Russian origin were purchased. India is reducing the requirements for the minimum level of stocks from traders for stabilization. prices, eventually wheat stocks may be reduced to a minimum. Factors leading to price reductions: No significant factors noted. Russian market Factors leading to higher prices: Wheat stocks among farmers as of November 1, according to Rosstat, were lower than last year’s level: 27.4 million tons versus 28.9 million tons. The growth of the dollar. Factors leading to lower prices: A slowdown in exports from the ports of the Azov-Black Sea basin will create pressure on quotes due to the accumulation of supply. The condition of winter crops in ...

Source: Zol